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Management Presentation and Haynesville Overview – Goodrich Petroleum Corp.

Goodrich Petroleum Corp. · Jan 9, 2017 · 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. Management Presentation and Haynesville Overview – Goodrich Petroleum Corp. – slide 1
    Management Presentation and Haynesville Shale Overview January 2017
  2. Management Presentation and Haynesville Overview – Goodrich Petroleum Corp. – slide 2
    Page Introduction 1 Disclaimer 2 Table of Contents 3 Company Highlights 4 Capitalization Table 5 Core Properties 6 Company Leasehold Position 7 Haynesville Shale Opportunity 8 Haynesville Shale Geologic Characteristics…
  3. Management Presentation and Haynesville Overview – Goodrich Petroleum Corp. – slide 3
    BALANCE SHEET: (12/31/16) Cash 40 Million Total Net Debt - 16.7 Million Basic Shares Outstanding 8.6 Million (11.1 Million with Costless Warrants) TRADING PLATFORM: Current - OTC-QX Market (GDDP) Plan Uplift to NYSE or…
  4. Management Presentation and Haynesville Overview – Goodrich Petroleum Corp. – slide 4
    (USD in thousands) Cash 40,000 Debt Senior Credit Facility 16,700 New 2L Notes (PIK) 40,000 Total Debt 56,700 Total Net Debt 16,700 January 2017 5
  5. Management Presentation and Haynesville Overview – Goodrich Petroleum Corp. – slide 5
    HAYNESVILLE SHALE - CORE Gross (Net) Acres: 38,000 (15,700) Proved Reserves (YE'15): 25.3 Bcfe Objective: Haynesville Shale (Core) HAYNESVILLE / BOSSIER SHALE ANGELINA RIVER TREND (ART) Gross (Net) Acres : 14,000 (8,300) Proved…
  6. Management Presentation and Haynesville Overview – Goodrich Petroleum Corp. – slide 6
    Greenwood- North Louisiana (Haynesville) Waskom / Total Gross/Net Acres: Metcalf/Longwood 38,000/15,700 4,650 Net Ac Average WI/NRI: 41%/30% Acreage HBP: 100% 85 total producing wells Approximately 235 potential locations CHK…
  7. Management Presentation and Haynesville Overview – Goodrich Petroleum Corp. – slide 7
    Key Points The Haynesville Shale is a proven natural gas resource play experiencing a renaissance due to Large natural gas reserve longer laterals and improvements in completion design base on concentrated leasehold position with…
  8. Management Presentation and Haynesville Overview – Goodrich Petroleum Corp. – slide 8
    Type Log Goodrich Petroleum, James Cook 1 Caddo Parish, Louisiana Key Points Dark organic rich, brittle mudstone-shale with modest clay…
  9. Management Presentation and Haynesville Overview – Goodrich Petroleum Corp. – slide 9
    January 2017 10
  10. Management Presentation and Haynesville Overview – Goodrich Petroleum Corp. – slide 10
    January 2017 11
  11. Management Presentation and Haynesville Overview – Goodrich Petroleum Corp. – slide 11
    January 2017 12
  12. Management Presentation and Haynesville Overview – Goodrich Petroleum Corp. – slide 12
    January 2017 13
  13. Management Presentation and Haynesville Overview – Goodrich Petroleum Corp. – slide 13
    Evolving completions maximize near-wellbore stimulation Original Design Recent Design Testing (2008 - 2014) (2015 - Current) (Currently) 4,600 Laterals 4,600 10,000 Laterals 10,000 Laterals 1,000 lbs/ft Proppant 3,000 lbs/ft…
  14. Management Presentation and Haynesville Overview – Goodrich Petroleum Corp. – slide 14
    CHK CHK CHK, Black 1H CA 12&13-15 -15 HC NGUYEN 5&8-15-14HC WOC Test CHK 001-ALT 001-ALT 10,000 lateral NGUYEN 5&8-15-14HC IP30: 38,000 Mcf/d IP30: 16,896 Mcf/d 5,000/ft 9,814 lateral 7,659 lateral 002-ALT IP30: 15,800 Mcf/d 7,668…
  15. Management Presentation and Haynesville Overview – Goodrich Petroleum Corp. – slide 15
    IP30 versus Total Proppant Well Name Operator LL (ft) IP30 (MMcfpd) Prop (/ft) Tot Prop () Prod Date Golson 3 SU74 3 Vine 4,661 18.8 4,749 22,135,089 15-Nov Well Number 1 Operator 1 10,000 WOC 5,000 50,000,000 12/15/16 Robertson Clay 14…
  16. Management Presentation and Haynesville Overview – Goodrich Petroleum Corp. – slide 16
    IP30 versus Total Proppant Well Name Operator LL (ft) IP30 (MMcfpd) Prop (/ft) Tot Prop () Prod Date Golson 3 SU74 3 Vine 4,661 18.8 4,749 22,135,089 15-Nov Robertson Clay 14 2 Vine 4,625 16.7 3,794 17,547,250 15-Oct Guin Ronald 21H 3…
  17. Management Presentation and Haynesville Overview – Goodrich Petroleum Corp. – slide 17
    Recent Haynesville 4,600' Wells 100 Operator 4, Well Number 5 (4,749/ft Frac) Operator 4, Average Well Performance from 8 Wells (Avg. - 3,600/ft Frac) 10 Operator 4 Well Type Curve (Avg. - Gas Production (MMcf/day)…
  18. Management Presentation and Haynesville Overview – Goodrich Petroleum Corp. – slide 18
    Recent Haynesville 7500' Wells 100.0 Operator 3, Well 1 (3,683/ft Frac) Operator 3, Well 2 (3,585/ft Frac) Operator 1, Wells 14&15 (Avg. 10.0 Gas production, MMcf/day 1,738/ft Frac) Operator 1, Well 11 (1,490/ft…
  19. Management Presentation and Haynesville Overview – Goodrich Petroleum Corp. – slide 19
    Recent Haynesville 10,000' Wells 100.0 Operator 1, Well 8 (3,000/ft Frac) Operator 1, Well 12 (1,516/ft Frac) Increased Proppant Design Type Curve (4,000/ft Frac) - EUR: 25 Bcf (2.5 Bcf/1,000 ft) Gas production, MMcf/day…
  20. Management Presentation and Haynesville Overview – Goodrich Petroleum Corp. – slide 20
    Typical Development OOIP Wells / Unit EUR / Well (MBoe) Recovery Factor Case (10,000 Lateral (Bcf / 1280 Ac. Unit) Wells) Base Case 368 6 20 32.6% 6 Wells / 1280-Acre Unit Typical Development Unit (1280 acres) 880 between wells…
  21. Management Presentation and Haynesville Overview – Goodrich Petroleum Corp. – slide 21
    Haynesville Shale Gas-in-Place and Recovery Factor Analysis Key Points and Assumptions Gas-in-place (OGIP) 184 Bcf / 640 acres 276 Bcf / 960 acres 368 Bcf/ 1280 acres Reserve Est (2.0 Bcf/1,000) 9.2 Bcf per well (4600) 15.0 Bcf…
  22. Management Presentation and Haynesville Overview – Goodrich Petroleum Corp. – slide 22
    4,600 Lateral Length, 4,000 Per Foot Frac Design Assumptions Louisiana Type Curve 4,600' Lateral Type Curve 100,000 Avg Daily Production (Mcfpd) EUR 11.5 Bcf (2.5 Bcf/1,000) 10,000 Sales Gas BTU Price 1.022 Adjustment 1,000…
  23. Management Presentation and Haynesville Overview – Goodrich Petroleum Corp. – slide 23
    7,500 Lateral Length, 4,000 Per Foot Frac Design Assumptions Louisiana Type Curve 7,500' Lateral Type Curve 100,000 Avg Daily Production (Mcfpd) EUR 18.75 Bcf (2.5 Bcf/1,000) 10,000 Sales Gas BTU Price 1.022 Adjustment 1,000…
  24. Management Presentation and Haynesville Overview – Goodrich Petroleum Corp. – slide 24
    10,000 Lateral Length, 4,000 Per Foot Frac Design 10,000' Lateral Type Curve Assumptions Louisiana Type Curve 100,000 Avg Daily Production (Mcfpd) EUR 25.0 Bcf (2.5 Bcf/1,000) 10,000 Sales Gas BTU Price 1.022 Adjustment 1,000…
  25. Management Presentation and Haynesville Overview – Goodrich Petroleum Corp. – slide 25
    Value and Growth Investment Opportunity Due to a Restructured Balance Sheet and the Ability to Rapidly Grow Volumes and Reserves The Haynesville Shale Economics Will Compete with the Best Basins, Regardless of the Commodity Due to the…
  26. Management Presentation and Haynesville Overview – Goodrich Petroleum Corp. – slide 26
    -2000 -4000 - Drilling Inventory: 150 gross, 3000 102 net risked -4000 Locations -5000 -5000 -6000 -6000 GDP COG -7000 -8000 CHK EOG CRZO -10000 APC -11000 -9000 -10000 -12000
  27. Management Presentation and Haynesville Overview – Goodrich Petroleum Corp. – slide 27
    Early entrant to Eagle Ford Shale play in Estimated 150 gross (102 net) risked 2010 paying approximately 1,650 per probable locations remaining, assuming acre. 6,000 ft. laterals & 50 acre spacing. 2015 Sale: Proved reserves (12,000…
  28. Management Presentation and Haynesville Overview – Goodrich Petroleum Corp. – slide 28
    Emerging shale oil play covering approximately 2.5 million acres Low cost basis on acreage position Vintage wells define oil saturation and rock quality Depths: 10,500 14,500 TVD Thickness 100 250 High quality crude (38 45…
  29. Management Presentation and Haynesville Overview – Goodrich Petroleum Corp. – slide 29
    9 16 15 14 1 6 4 8 5 2 GDP 12 3 W Alford 10H1 (Completing) 10 11 7 13 Legend GDP TMS Oil Shows (Vertical) Painter 5H1 (Completing) Drilled/Completed TMS Wells Permitted TMS Wells GDP Legacy Acreage TMS Acquisition…
  30. Management Presentation and Haynesville Overview – Goodrich Petroleum Corp. – slide 30
    TMS OPTIMIZED WELLS (33) Well Control & Structure Map 500 Contour Currently delineated core GDP GDP GDP GDP GDP Crosby CMR Foster Creek CMR C.H. Lewis Nunnery 12H-1 8H -2 8-5H-1 30-19H-1 12-1H-1 Area 1 WILKINSON Area 2 PIKE…
  31. Management Presentation and Haynesville Overview – Goodrich Petroleum Corp. – slide 31
    TMS OPTIMIZED COMPOSITE WELL DECLINE CURVE 33 Wells
  32. Management Presentation and Haynesville Overview – Goodrich Petroleum Corp. – slide 32
    700 Mboe 800 Mboe Note: Internally estimated type curve. IRR assumes an 82.6% NRI, 2-year tax abatement and NYMEX pricing.
  33. Management Presentation and Haynesville Overview – Goodrich Petroleum Corp. – slide 33
    (USD in millions) Single-Well Pad Two-Well Pad Four-Well Pad Drilling Intangible 3.3 3.0 2.7 Tangible 0.6 0.6 0.6 Run Casing 1.1 1.1 1.1 Total DrilIing 5.0 4.7 4.4 Completion Intangible 3.5 3.1 2.9 Tangible 0.2 0.2 0.2…

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