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January 2017 Investor Presentation – Gulfport Energy Corp.

Gulfport Energy Corp. · Jan 20, 2017 · 41 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. January 2017 Investor Presentation – Gulfport Energy Corp. – slide 1
    Investor Presentation January 2017
  2. January 2017 Investor Presentation – Gulfport Energy Corp. – slide 2
    Gulfport Pro Forma Company Overview Primary Areas of Operation (4) Key Statistics Market Capitalization(1) 4.1 Billion Enterprise Value(2) 5.3 Billion Pro Forma Liquidity(3) 1.1 Billion Utica Shale Acreage: 213,000 Net Acres…
  3. January 2017 Investor Presentation – Gulfport Energy Corp. – slide 3
    Complementary Acquisition in the Core of the SCOOP Acquisition Overview Springer Gas Condensate Springer Oil Signed definitive agreement to acquire assets of Vitruvian II Woodford for a purchase price of 1.85 billion 85,000…
  4. January 2017 Investor Presentation – Gulfport Energy Corp. – slide 4
    Core Positions in Two Premier Basins in North America Vitruvian - SCOOP Gulfport - Utica Net Surface Acres 46,400 213,000(4) Effective Net Acres 85,000 213,000(4) Net Production(1) 183 Mmcfe/d 734 Mmcfe/d Production Growth(2)…
  5. January 2017 Investor Presentation – Gulfport Energy Corp. – slide 5
    Pro Forma Company Profile 2017 Full Year Pro Forma Guidance(1)(6) 2017 Pro Forma Guidance(2)(6) (February Closing Adjustment) 2017E Production 885-930 190-200 1,075-1,130 160-170 1,045-1,100 (mmcfe/d) 2017E D&C Capex…
  6. January 2017 Investor Presentation – Gulfport Energy Corp. – slide 6
    Compelling Single Well Economics in Two Premier Gas Basins 2,975 gross highly economic identified locations that compete for capital 1,750 in the SCOOP and 1,275 in the Utica Shale Allocation of capital split between two top-tier…
  7. January 2017 Investor Presentation – Gulfport Energy Corp. – slide 7
    Strong Post Acquisition Liquidity, Capitalization and Hedge Position Gas Hedges(1) Key Highlights 550 Gulfports strategic commitment to the balance sheet and 500 3.66 4.00 conservative leverage metrics provide the ability to pursue…
  8. January 2017 Investor Presentation – Gulfport Energy Corp. – slide 8
    Key Investment and Financial Highlights Pro forma the acquisition, core acreage positions in two of the most prolific, high-quality natural gas plays in North America Basin diversification provides optionality to allocate capital…
  9. January 2017 Investor Presentation – Gulfport Energy Corp. – slide 9
    Utica Asset Overview 10
  10. January 2017 Investor Presentation – Gulfport Energy Corp. – slide 10
    Utica Shale Overview Gulfport Energy Gulfport Energy Phillips Pad Dorsey Pad Asset Overview Net proved reserves of 1.7 Tcfe(1) 213,000 net acres(2) Oil - 1% Condensate - 12% Wet Gas - 15% Dry Gas - 72% 2016 Activities…
  11. January 2017 Investor Presentation – Gulfport Energy Corp. – slide 11
    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)…
  12. January 2017 Investor Presentation – Gulfport Energy Corp. – slide 12
    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…
  13. January 2017 Investor Presentation – Gulfport Energy Corp. – slide 13
    Utica Shale Diversified End Market 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:…
  14. January 2017 Investor Presentation – Gulfport Energy Corp. – slide 14
    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)…
  15. January 2017 Investor Presentation – Gulfport Energy Corp. – slide 15
    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…
  16. January 2017 Investor Presentation – Gulfport Energy Corp. – slide 16
    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…
  17. January 2017 Investor Presentation – Gulfport Energy Corp. – slide 17
    SCOOP Asset Overview 18
  18. January 2017 Investor Presentation – Gulfport Energy Corp. – slide 18
    SCOOP Overview Asset Overview CLR NFX 85,000 effective net acres in the core of the SCOOP play in Grady, CLR Stephens and Garvin Counties, OK Includes 46,400 Woodford and 38,600 Springer acres in over- pressure liquids rich to…
  19. January 2017 Investor Presentation – Gulfport Energy Corp. – slide 19
    SCOOP Geologic Overview Overview Regional Stratigraphy Overpressured Woodford was deposited on an erosional surface and varies in thickness, increasing to the south into the Mississippian SCOOP Springer Sycamore section is the…
  20. January 2017 Investor Presentation – Gulfport Energy Corp. – slide 20
    SCOOP Large Stacked Multi-Pay Inventory Overview 46,400 net surface acres located in the heart of SCOOP condensate and over-pressured gas windows with exposure to stacked pay zones 1,180 gross identified locations in the Woodford…
  21. January 2017 Investor Presentation – Gulfport Energy Corp. – slide 21
    SCOOP Recent Well Results Tyemax Bia 1-35RXH Lane 13-24-1XH Poteet 9-17-20X Poteet 7-17-20X Poteet 10-17-20X Marathon Apache Continental Continental Continental Norm IP30: 2,587 Mcfe/d/1,000 Norm IP30: 1,534 Mcfe/d/1,000 Norm IP30:…
  22. January 2017 Investor Presentation – Gulfport Energy Corp. – slide 22
    SCOOP Overview of Top 20 Well Results 3,500 3,000 Normalized IP30 (Mcfe/d/1000') 2,500 2,000 1,500 1,000 500 0 Vitruvian Woodford Springer Vitruvian wells make up half of the top well results Source:…
  23. January 2017 Investor Presentation – Gulfport Energy Corp. – slide 23
    SCOOP - Type Curve Assumptions Woodford Springer Springer Gas Dry Gas Wet Gas Condensate Condensate Springer Oil Springer Gas Type Curve Assumptions Condensate Springer Oil Lateral Length Well Cost (MM) 7,500 12.3 7,500 10.5…
  24. January 2017 Investor Presentation – Gulfport Energy Corp. – slide 24
    SCOOP - Significant Upside From Enhanced Completions Overview Proppant Concentration Evolution (lbs/ft) From 2012 to January 2015 there has been very little progression in Woodford SCOOP completions In Mid-2014 core CANA Woodford…
  25. January 2017 Investor Presentation – Gulfport Energy Corp. – slide 25
    SCOOP - Vitruvian Case Study Key Points Normalized 7,500 30-Day IP (MMcf/d) 21.2 Castle 1-35H was completed March 2015 with Gen 1B design on 4,661 ft. lateral 13.8 Anita Fowler 1-27X26H was completed in July 2016 with a Gen 4B…
  26. January 2017 Investor Presentation – Gulfport Energy Corp. – slide 26
    SCOOP Midstream Gathering and Processing Overview Key Highlights Acreage dedication arrangement for all horizontal development to Woodford Express (WEX) for gathering and processing Competitive gathering and processing contracts…
  27. January 2017 Investor Presentation – Gulfport Energy Corp. – slide 27
    SCOOP Midstream Marketing Overview Key Highlights Canadian Low cost supply basin centrally located and advantaged by Exports proximity to growing demand centers in the Gulf Coast regions LNG Power Mexican exports Generation…
  28. January 2017 Investor Presentation – Gulfport Energy Corp. – slide 28
    Utica Appendix 29
  29. January 2017 Investor Presentation – Gulfport Energy Corp. – slide 29
    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…
  30. January 2017 Investor Presentation – Gulfport Energy Corp. – slide 30
    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%…
  31. January 2017 Investor Presentation – Gulfport Energy Corp. – slide 31
    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…
  32. January 2017 Investor Presentation – Gulfport Energy Corp. – slide 32
    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…
  33. January 2017 Investor Presentation – Gulfport Energy Corp. – slide 33
    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 15,660 9,603 31,935 30,402 79,843 42,191 Lateral Length…
  34. January 2017 Investor Presentation – Gulfport Energy Corp. – slide 34
    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…
  35. January 2017 Investor Presentation – Gulfport Energy Corp. – slide 35
    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…
  36. January 2017 Investor Presentation – Gulfport Energy Corp. – slide 36
    Appendix 37
  37. January 2017 Investor Presentation – Gulfport Energy Corp. – slide 37
    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…
  38. January 2017 Investor Presentation – Gulfport Energy Corp. – slide 38
    Strike Force 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 Approximately 165…
  39. January 2017 Investor Presentation – Gulfport Energy Corp. – slide 39
    Hedged Production Hedge Book(1) 4Q16 1Q17 2Q17 3Q17 4Q17 2016 2017 2018 2019 Natural Gas Contract Summary: Natural Gas Fixed Price Swaps (NYMEX) Volume (BBtupd) 540 487 514 525 598 523 531 296 5 Weighted Average Price (/MMBtu) 3.14…
  40. January 2017 Investor Presentation – Gulfport Energy Corp. – slide 40
    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…
  41. January 2017 Investor Presentation – Gulfport Energy Corp. – slide 41
    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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