Gastar Overview 105,500 net surface acres in prolific STACK Play Mid-Continent STACK Play STACK Optionality STACK Oswego 12,600 net acres(1) STACK Meramec 38,100 net acres(1) STACK Osage 45,700 net acres(1) STACK…
STACK Play - Overview Overview Five prospective formations across acreage position Multiple formations may be stacked depending on specific area Multiple benches within prospective formations Offers large quantity of drilling…
Capital Budget 2016 Budget Detail Area Capital (MM) % of Total STACK Operated Drilling (3 gross STACK wells) 10.2 17% STACK DrillCo program (10 gross wells) 2.8 5% STACK Non-Operated Drilling 5.9 10% Recompletions 4.8 8% Land 32.8…
Summary Target Economics Based on Wright & Co. proved reserve type curve assumptions(1) Meramec WEHLU Upper Hunton WEHLU Lower Hunton Number of net drilling locations 352 111 108 EURs Processed 843 Mboe 402 Mboe 557 Mboe Wet Gas…
Recent STACK Research 45 Oil, 2.50 Gas 35 Oil, 2.00 Gas SCOOP/STACK Midland Hzl Eagle Ford Williston DJ Basin Delaware Other Oil Permian Vert The SCOOP/STACK continues to be the most economic oil basin Heikkinen Energy…
Mid-Continent STACK Operator Map One of the most active horizontal plays in North America, currently 33 rigs running in the area Note: Rig data obtained from Drillinginfo as of 10/27/2016 2016 Gastar Exploration Inc. 12
South STACK Divestiture South STACK Divestiture Overview South STACK Asset Map PSA Signed on 10/19/2016 Effective date of 08/01/2016 Expected close mid-November 2016 Purchase price of 71MM 10MM contingent South Value ascribed to…
DrillCo Joint Venture DrillCo Overview Announced development agreement with large global investment fund on 10/20/2016 Drilling program will target Meramec and Osage formations located in three townships totaling 18,000 net acres…
Mid-Continent Focused Operator Large, contiguous acreage position with multiple stacked horizontal targets Mid-Continent Asset Overview Mid-Continent Asset Map 105,500 net acres North STACK 54,400 net acres Meramec play key…
STACK - Meramec Overview Activity Map(4) Offset operator IPs range up to 2,200 Boe/d (68% oil) Meramec returns attractive at todays commodity price environment Meramec activity - 92 active permits and 251 completed wells in the…
STACK Meramec Development GST Meramec Development Deep River 30-1H Production(1) Deep River 30-1H 180,000 Post Peak IP:30 956 Boe/d (68% oil) Post Peak IP:60 803 Boe/d (63% oil) Post Peak IP:90 713 Boe/d (61% oil) Post Peak…
STACK - Osage Overview Activity Map(5) Offset operator IPs range up to 1,900 Boe/d Currently flowing back 1st Osage test well, the McGee 29-1H Non-operated participation in nine wells Osage activity 59 active permits and 150…
STACK - Oswego Overview Activity Map(5) Offset operator IPs up to 2,100 Boe/d (93%+ oil) A growing horizontal target in the basin Up to four porosity-driven targets within the Oswego Currently flowing back 1st Oswego test well,…
STACK - Woodford Overview Activity Map(4) Offset operator IPs up to 1,500 Boe/d (80%+ oil) Other operator activity de-risking the play Non-operated participation in four wells Woodford activity 38 active permits and 84…
WEHLU WEHLU-Hunton offers a substantial source of high return projects - Acreage 100% HBP Upper Hunton Overview WEHLU Map 31 PUDs on northern WEHLU acreage Seven well average results: Peak rate of 568 Boe/d (86% oil) Lower Hunton…
Northern Hunton Development Northern Hunton Development Northern Hunton Activity Map Established position in 2012 to focus on Lower Hunton development Took over operatorship with closing of acquisition in December 2015 39…
Earthquake Seismicity Map Low seismicity around Gastar leasehold Gastar recently re- completed a SWD well in the Wilcox to mitigate limitations of disposing in the Arbuckle Other operators are following this trend GST:…
Financial Overview
Financial Strategy Continue to review strategic opportunities to reduce leverage and enhance liquidity Signed PSA to sell non-core South acreage to enhance liquidity Leverage Ratios and Executed a Development Agreement to focus on…
Capitalization and Liquidity Capitalization ( in millions) 9/30/2016 Pro-Forma(1) Cash 46.7 102.4 Long Term Debt Senior Secured Notes due 2018 (face value) 325.0 325.0 Revolving Credit Facility 99.6 85.7 Total Debt 424.6 410.7…
Key Investment Criteria High-Quality STACK Pure play Mid-Continent STACK operator Resource Large acreage position in coveted Mid-Continent STACK play Base Strong drilling results in the Meramec, Osage, Oswego, and Hunton Limestone oil…
Appendix
STACK Drilling Overview Well Results Post IP Production Averages(1) Peak 30 Day 60 Day 90 Day 180 Day 270 Day 360 Day Current 5 Day Well Rate Post Peak Post Peak Post Peak Post Peak Post Peak Post Peak Average(2) % Oil(3) (Boe/d)…
Hedge Detail Natural Gas Oil Period Contract Type Volume Hedged Price Period Contract Type Volume Hedged Price Nov - Dec 16 3-Way 2,000 MMBtu/d 4.00 / 3.25 / 4.58 Oct - Dec 16 3-Way 250 Bbl/d 85.00 / 65.00 / 95.10 Nov - Dec 16 3-Way…
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