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Q2 2016 Earnings Presentation – Gulfport Energy Corp.

Gulfport Energy Corp. · Aug 3, 2016 · 33 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Q2 2016 Earnings Presentation – Gulfport Energy Corp. – slide 1
    Investor Presentation August 2016
  2. Q2 2016 Earnings Presentation – Gulfport Energy Corp. – slide 2
    Gulfport Today Primary Areas of Operation (5) Key Statistics Market Capitalization(1) 3.5 Billion Enterprise Value(2) 4.1 Billion Liquidity(3) 890.6 Million Net Debt / TTM Adjusted EBITDA(4) 1.4x 2015 Average Daily…
  3. Q2 2016 Earnings Presentation – Gulfport Energy Corp. – slide 3
    Overview of Gulfport Gulfport Energy Corporation (GPOR) is an independent E&P company based in Oklahoma City, OK Company born from legacy assets in South Louisiana Free cash flow from legacy assets facilitated expansion into North…
  4. Q2 2016 Earnings Presentation – Gulfport Energy Corp. – slide 4
    Key Investment and Financial Highlights High-quality asset base in the Utica will allow us to deliver growth not only year-over-year, but also exit-to- exit, leaving the Company well-positioned going into 2017 Anticipated 2016 D&C…
  5. Q2 2016 Earnings Presentation – Gulfport Energy Corp. – slide 5
    Operational Momentum Key Highlights 2016E Capital Expenditures(1) Gulfport currently forecasts capital expenditures of approximately 45 513 475 to 550 million in 2016 550 23 Plan to drill 36 to 39 net operated and 3 to 4 net…
  6. Q2 2016 Earnings Presentation – Gulfport Energy Corp. – slide 6
    Preparing for 2017 Key Highlights(1) As a result of improving natural gas fundamentals, Gulfport plans to increase the development pace during 2017 At current gas strip(1), Gulfport plans to ramp to a six-rig program during 2017…
  7. Q2 2016 Earnings Presentation – Gulfport Energy Corp. – slide 7
    Second Quarter 2016 Results Total Production Production Mix Production Mix Adjusted OilProduction Utica and Gas Revenues Growth Gas 13% Liquids Produced Totaled 664.7 MMcfe Approximately Increased 40% per day Increased 16%…
  8. Q2 2016 Earnings Presentation – Gulfport Energy Corp. – slide 8
    Gulfport 2016 Guidance Year Ending 12/31/2016 2016E CAPEX (in millions)(3) Forecasted Production Average Daily Gas Equivalent MMcfepd 695 730 Leasehold Midstream 45.0 % Gas 87% 91% 22.5 % Liquids 13% 9% Forecasted Realizations…
  9. Q2 2016 Earnings Presentation – Gulfport Energy Corp. – slide 9
    Liquidity, Capitalization and Hedge Position Gas Hedges(1) Key Highlights Gulfports strategic commitment to the balance sheet and 500 4.00 conservative leverage metrics provide the ability to pursue an 450 3.37 aggressive growth…
  10. Q2 2016 Earnings Presentation – Gulfport Energy Corp. – slide 10
    Asset Overview 11
  11. Q2 2016 Earnings Presentation – Gulfport Energy Corp. – slide 11
    Utica Shale Overview Asset Overview Net proved reserves of 1.7 Tcfe(1) 223,000 net acres(2) Oil - 5% Condensate - 13% Gulfport Energy Wet Gas - 15% Yankee Pad Dry Gas - 67% 2016 Activities Update(3) Average net production of…
  12. Q2 2016 Earnings Presentation – Gulfport Energy Corp. – slide 12
    Utica Shale Drilling and Completion Activity Net Wells Spud 41 Non-Op 3 Dry Gas Wet Gas 34 12 12 10 8 1 0.3 2 1 10 11 6 7 2 2 4 1Q'16 2Q'16 3Q'16 4Q'16 2016E(1) Net Wells Turned-to-Sales 46 Non-Op 7 Dry…
  13. Q2 2016 Earnings Presentation – Gulfport Energy Corp. – slide 13
    Utica Shale Type Curve Assumptions Condensate Wet Dry Gas Type Curve Assumptions (1) West East Gas West Central East Lateral Length 8,000 8,000 8,000 8,000 8,000 8,000 Well Cost (MM) 8.7 8.7 9.0 9.2 9.4 9.6 Well Cost ( per foot)…
  14. Q2 2016 Earnings Presentation – Gulfport Energy Corp. – slide 14
    Utica Shale Single Well Economics Utica Single Well Economics(1) (2) 151% 149% 140% 145% 120% 112% 107% 110% 100% 106% 78% 80% 73% 76% 72% 60% 48% 43% 45% 46% 40% 42% 30% 23% 38% 19% 20% 21% 15% 25% 19% 12% 0%…
  15. Q2 2016 Earnings Presentation – Gulfport Energy Corp. – slide 15
    Utica Shale Consistency of Reservoir B West East A A A 116 ft 118 ft A South North B B B LEGEND Gulfport Acreage KeyinHighlights Focused acreage position the core of the play 98 ft 122 ft Consistency of the…
  16. Q2 2016 Earnings Presentation – Gulfport Energy Corp. – slide 16
    Utica Shale Diversified Portfolio Overview Rover Pipeline DAWN (North) Amount: 125,000 Dth/d MICHCON Market: Midwest and Dawn In-Service Mid-2017 ANR Pipeline NGPL Pipeline Amount: 20,000 Dth/d (North) Market: Chicago…
  17. Q2 2016 Earnings Presentation – Gulfport Energy Corp. – slide 17
    Utica Shale Firm Transportation and Sales Outlets Firm Commitments (MMBtu per day) Overview YE2014 YE2015 YE2016 YE2017 + 1,400,000 (MMBtu / day) 1,200,000 Midwest Markets Firm Sales Columbia (Gulf) November 2017 ANR Pipeline…
  18. Q2 2016 Earnings Presentation – Gulfport Energy Corp. – slide 18
    Utica Shale Overview of Realized Pricing Overview YE 2017 Secured Firm Commitments Gulfport was a first-mover in securing early access to premium 1,225,000 Midwest markets and early transport at low costs out of the basin…
  19. Q2 2016 Earnings Presentation – Gulfport Energy Corp. – slide 19
    Utica Shale Midstream Infrastructure Ohio Gathering & Ohio Condensate Hopedale Fractionator Stabilization Facility 23,000 Bbl/d Operational C3+ Fractionation I & II- 120,000 Bbl/d Operational C3+ Fractionation III - 60,000 Bbl/d…
  20. Q2 2016 Earnings Presentation – Gulfport Energy Corp. – slide 20
    Utica Shale Strategic Midstream Joint Venture Overview GPOR and RICE formed midstream JV, Strike Force Midstream LLC, to provide gas gathering, compression and water services to GPORs Eastern Belmont and Monroe acreage…
  21. Q2 2016 Earnings Presentation – Gulfport Energy Corp. – slide 21
    Southern Louisiana Asset Overview(1) Net proved reserves of 2.8 MMBoe 10,816 net acres Gulfport operated 2016 Activities Update(2) Average net production of 3,577 Boepd during 2Q2016 3% of Gulfports total net production 98%…
  22. Q2 2016 Earnings Presentation – Gulfport Energy Corp. – slide 22
    Utica Appendix 23
  23. Q2 2016 Earnings Presentation – Gulfport Energy Corp. – slide 23
    Utica Shale Type Curve Assumptions Condensate Condensate Dry Gas Dry Gas Dry Gas Wet Gas West East West Central East Identified Net Locations 128 63 114 118 277 196 Type Curve Assumptions Lateral Length (ft.) 8,000 8,000 8,000 8,000…
  24. Q2 2016 Earnings Presentation – Gulfport Energy Corp. – slide 24
    Utica Shale Condensate Window Type Curves Condensate Single Well Economics(1) Type Curve Assumptions(1) West East Lateral Length 8,000 8,000 50% 45% Well Cost (MM) 8.7 8.7 40% Well Cost ( per foot) 1,083 1,083 30% 38% 30%…
  25. Q2 2016 Earnings Presentation – Gulfport Energy Corp. – slide 25
    Utica Shale Wet Gas Window Type Curves Wet Single Well Economics(1) Type Curve Assumptions(1) Gas 120% Lateral Length 8,000 107% Well Cost (MM) 9.0 100% 73% Well Cost ( per foot) 1,129 80% 60% 43% Total EUR (Bcfe / 1,000) 2.0…
  26. Q2 2016 Earnings Presentation – Gulfport Energy Corp. – slide 26
    Utica Shale Dry Gas Window Type Curves Dry Gas Single Well Economics(1) Type Curve Assumptions(1) West Central East 160% 151% Lateral Length 8,000 8,000 8,000 149% 140% Well Cost (MM) 9.2 9.4 9.6 112% 145% 120% Well Cost ( per…
  27. Q2 2016 Earnings Presentation – Gulfport Energy Corp. – slide 27
    Additional Disclosures Net Undeveloped Locations(1) Condensate Condensate Dry Gas Dry Gas Dry Gas West East Wet Gas West Central East Net Undeveloped Location Summary Net Acres 19,163 10,829 33,460 30,235 73,518 45,313 Lateral…
  28. Q2 2016 Earnings Presentation – Gulfport Energy Corp. – slide 28
    Utica Shale NGL Infrastructure Key Highlights Edmonton Markets Gulfport forecasts realizing 0.25 to 0.29 per gallon for NGLS during 2016 Ontario Markets Compared to Mont Belvieu, Gulfport has more of the Midwest Northeast Markets…
  29. Q2 2016 Earnings Presentation – Gulfport Energy Corp. – slide 29
    Northeast Pipeline Expansion List 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 NE Marcellus to Northeast Transco NE Connector Project 100 100 100 100 100 100 100 100 100 100 100…
  30. Q2 2016 Earnings Presentation – Gulfport Energy Corp. – slide 30
    Appendix 31
  31. Q2 2016 Earnings Presentation – Gulfport Energy Corp. – slide 31
    Hedged Production Hedge Book(1) 3Q16 4Q16 2016 2017 2018 2019 Natural Gas Contract Summary: Natural Gas Fixed Price Swaps (NYMEX) Volume (BBtupd) 557 540 523 366 180 5 Weighted Average Price (/MMBtu) 3.05 3.14 3.19 3.08 3.03 3.37…
  32. Q2 2016 Earnings Presentation – Gulfport Energy Corp. – slide 32
    Financial and Operational Summary 2014 2015 2016 2Q2016 1Q2014 2Q2014 3Q2014 4Q2014 FY2014 1Q2015 2Q2015 3Q2015 4Q2015 FY 2015 1Q2016 2Q2016 YTD 2016 FY2016E Q-o-Q Y-o-Y Production Gas Bcf 7.7 9.0 16.6 26.1 59.3 26.0 33.1 48.1 48.9…
  33. Q2 2016 Earnings Presentation – Gulfport Energy Corp. – slide 33
    2015 Proved Reserve Summary Net Reserves as of December 31, 2015(1) Gas Oil NGL Total PV-10 (MM) (Bcf) (MMBbls) (MMBbls) (Bcfe) SEC Proved Developed Producing 571.1 4.4 12.9 674.7 546 Proved Developed Non-Producing 81.8 1.8 - 92.4 107…

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