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November 2016 Investor Presentation – Gulfport Energy Corp.

Gulfport Energy Corp. · Nov 2, 2016 · 37 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. November 2016 Investor Presentation – Gulfport Energy Corp. – slide 1
    Investor Presentation November 2016
  2. November 2016 Investor Presentation – Gulfport Energy Corp. – slide 2
    Gulfport Today Primary Areas of Operation (5) Key Statistics Market Capitalization(1) 3.0 Billion Enterprise Value(2) 3.6 Billion Liquidity(3) 857.3 Million Net Debt / TTM Adjusted EBITDA(4) 1.5x 2015 Average Daily…
  3. November 2016 Investor 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. November 2016 Investor 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. November 2016 Investor Presentation – Gulfport Energy Corp. – slide 5
    Operational Momentum Key Highlights 2016E Capital Expenditures(1) Plan to drill 36 to 39 net operated and 3 to 4 net non-operated 45 513 wells during 2016 550 23 95 Added fourth operated rig in the Utica Shale in September to 500…
  6. November 2016 Investor 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(2), Gulfport plans to run a minimum of six rigs during 2017…
  7. November 2016 Investor Presentation – Gulfport Energy Corp. – slide 7
    Overview of Guidance Outlook 2017E Capital Expenditure Guidance Build-Up (MM) (1) Maintenance Capital 6-Rig Program 8-Rig Program 850 - 900 675 - 725 330 250 545 450 350 255 195 80 115 80 2017 Maint. Capital (2)…
  8. November 2016 Investor Presentation – Gulfport Energy Corp. – slide 8
    Overview of Guidance Outlook 2017E Production Guidance (MMcfe/d) (1) 1,800 2017 2018 6 Rig Program: 20% - 25% Growth YoY 35% Growth YoY 1,600 8 Rig Program: 25% - 30% Growth YoY 50% Growth YoY 1,400 8 Rig Growth(2)…
  9. November 2016 Investor Presentation – Gulfport Energy Corp. – slide 9
    Third Quarter 2016 Results Total Production Production Mix Production Mix Adjusted OilProduction Utica and Gas Revenues Growth Gas 14% Liquids Produced Totaled 734.1 MMcfe Approximately Increased 13% per day Increased 2%…
  10. November 2016 Investor Presentation – Gulfport Energy Corp. – slide 10
    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…
  11. November 2016 Investor Presentation – Gulfport Energy Corp. – slide 11
    Asset Overview 12
  12. November 2016 Investor Presentation – Gulfport Energy Corp. – slide 12
    Utica Shale Overview Gulfport Energy Gulfport Energy Phillips Pad Dorsey Pad Asset Overview Net proved reserves of 1.7 Tcfe(1) 211,000 net acres(2) Oil - 4% Condensate - 14% Wet Gas - 15% Dry Gas - 67% 2016 Activities…
  13. November 2016 Investor Presentation – Gulfport Energy Corp. – slide 13
    Utica Shale Drilling and Completion Activity Net Wells Drilled 45 Non-Op 3 Dry Gas Wet Gas 37 15 12 11 0.0 8 1 2 12 1 11 7 7 5 2 3 1Q'16 2Q'16 3Q'16 4Q'16E 2016E Net Wells Turned-to-Sales 45 Non-Op Dry Gas…
  14. November 2016 Investor Presentation – Gulfport Energy Corp. – slide 14
    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)…
  15. November 2016 Investor Presentation – Gulfport Energy Corp. – slide 15
    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% 30% 42% 23% 38% 19% 20% 21% 15% 25% 19% 12%…
  16. November 2016 Investor Presentation – Gulfport Energy Corp. – slide 16
    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…
  17. November 2016 Investor Presentation – Gulfport Energy Corp. – slide 17
    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…
  18. November 2016 Investor Presentation – Gulfport Energy Corp. – slide 18
    Utica Shale Firm Transportation and Sales Outlets Firm Commitments (MMBtu per day) Overview YE2014 YE2015 YE2016 YE2017 + 1,200,000 Firm Sales (MMBtu / day) Columbia (Gulf) November 2017 1,000,000 Midwest Markets TETCO (Michcon)…
  19. November 2016 Investor Presentation – Gulfport Energy Corp. – slide 19
    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…
  20. November 2016 Investor Presentation – Gulfport Energy Corp. – slide 20
    Utica Shale Midstream Infrastructure Ohio Gathering & Ohio Condensate(1) Hopedale Fractionator(1) Stabilization Facility 23,000 Bbl/d Operational C3+ Fractionation I & II- 120,000 Bbl/d Operational C3+ Fractionation III - 60,000…
  21. November 2016 Investor Presentation – Gulfport Energy Corp. – slide 21
    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…
  22. November 2016 Investor Presentation – Gulfport Energy Corp. – slide 22
    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 3,365 Boepd during 3Q2016 3% of Gulfports total net production 99%…
  23. November 2016 Investor Presentation – Gulfport Energy Corp. – slide 23
    Mammoth Energy Services Mammoth Energy Overview (1) On October 19, 2016, Mammoth Energy completed its initial public offering and it now listed on the NASDAQ under ticker symbol TUSK Gulfport contributed its 30.5% equity interest…
  24. November 2016 Investor Presentation – Gulfport Energy Corp. – slide 24
    Utica Appendix 25
  25. November 2016 Investor Presentation – Gulfport Energy Corp. – slide 25
    Utica Shale Type Curve Assumptions Condensate Condensate Dry Gas Dry Gas Dry Gas Wet Gas West East West Central East Identified Net Locations 125 63 103 115 275 158 Type Curve Assumptions Lateral Length (ft.) 8,000 8,000 8,000 8,000…
  26. November 2016 Investor Presentation – Gulfport Energy Corp. – slide 26
    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%…
  27. November 2016 Investor Presentation – Gulfport Energy Corp. – slide 27
    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…
  28. November 2016 Investor Presentation – Gulfport Energy Corp. – slide 28
    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…
  29. November 2016 Investor Presentation – Gulfport Energy Corp. – slide 29
    Additional Disclosures Net Undeveloped Locations(1) Condensate Condensate Wet Gas Dry Gas Dry Gas Dry Gas West East West Central East Net Undeveloped Location Summary Net Acres 18,785 10,751 32,524 30,165 73,839 36,622 Lateral…
  30. November 2016 Investor Presentation – Gulfport Energy Corp. – slide 30
    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…
  31. November 2016 Investor Presentation – Gulfport Energy Corp. – slide 31
    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…
  32. November 2016 Investor Presentation – Gulfport Energy Corp. – slide 32
    Appendix 33
  33. November 2016 Investor Presentation – Gulfport Energy Corp. – slide 33
    Gulfport 2016 Guidance Year Ending 12/31/2016 2016E CAPEX (in millions)(4) Forecasted Production Average Daily Gas Equivalent MMcfepd 695 730 Leasehold Midstream 45.0 % Gas 87% 91% 22.5 % Liquids 13% 9% Forecasted Realizations…
  34. November 2016 Investor Presentation – Gulfport Energy Corp. – slide 34
    Hedged Production Hedge Book(1) 4Q16 2016 2017 2018 2019 Natural Gas Contract Summary: Natural Gas Fixed Price Swaps (NYMEX) Volume (BBtupd) 540 523 410 224 5 Weighted Average Price (/MMBtu) 3.14 3.19 3.09 3.05 3.37 Natural Gas Fixed…
  35. November 2016 Investor Presentation – Gulfport Energy Corp. – slide 35
    Financial and Operational Summary 2014 2015 2016 3Q2016 1Q2014 2Q2014 3Q2014 4Q2014 FY2014 1Q2015 2Q2015 3Q2015 4Q2015 FY 2015 1Q2016 2Q2016 3Q2016 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…
  36. November 2016 Investor Presentation – Gulfport Energy Corp. – slide 36
    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…
  37. November 2016 Investor Presentation – Gulfport Energy Corp. – slide 37
    Gulfport Energy Headquarters Investor Relations 14313 North May Avenue, Suite 100 (405) 242-4888 Oklahoma City, OK 73134 Investor_relationsgulfportenergycom www.gulfportenergy.com

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