Gastar Overview 83,800 net surface acres: 56,700 core North STACK surface acres Mid-Continent STACK Play STACK Optionality STACK Oswego 11,400 net acres(1) STACK Meramec 20,100 net acres(1) STACK Osage 43,900 net…
Key Investment Criteria Pure play Mid-Continent STACK operator High-Quality STACK STACK (Sooner-Trend-Anadarko-Canadian-Kingfisher) is one of the most coveted assets in N. America Resource Strong drilling results in the Meramec, Osage,…
2017 Capital Budget 2017 Budget Detail Area Capital (MM) % of Total STACK DrillCo Drilling 5.1 6% STACK Osage Drilling 34.1 41% STACK Non-Operated Drilling 3.5 4% Land 30.8 37% Recompletions 3.3 3% Other Capital Costs 7.2 9% Total 83.9…
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…
Summary Target Economics Based on Wright & Co. proved reserve type curve projections(1) Meramec WEHLU Upper Hunton WEHLU Lower Hunton Number of net drilling locations 179 111 108 EURs Processed 716 Mboe 404 Mboe 528 Mboe Wet Gas…
Mid-Continent STACK Operator Map One of the most active horizontal plays in North America, currently 46 rigs running in the area Note: Rig data obtained from Drillinginfo as of 3/6/2017 2017 Gastar Exploration Inc. 12
Mid-Continent Focused Operator Large, contiguous acreage position with multiple stacked horizontal targets Mid-Continent Asset Overview Mid-Continent Asset Map North 83,800 net surface acres STACK 56,700 net acres 56,700 core…
STACK - Meramec Overview Activity Map(5) Meramec activity - 162 active permits and 301 completed wells in the area(1) Non-operated participation in 11 wells 8 producing Meramec potential net acres: 20,100(2) Est. locations(3):…
STACK - Osage Overview Activity Map(4) Non-operated elected participation in 2 wells 2 producing Osage activity 94 active permits and 175 completed wells in the area(1) Osage potential net acres: 43,900(2) Est. locations(3):…
STACK - Oswego Overview Activity Map(4) 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 Non-operated elected participation in 4…
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 elected participation in 3 wells 3 producing Woodford activity 51 active…
WEHLU WEHLU-Hunton offers a substantial source of high return projects - Acreage 100% HBP Upper Hunton Overview WEHLU Map 8 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 Gastar…
Financial Overview
Ares Transaction Overview Re-Financing Structure Sources Uses and Capitalization ( in millions) Established financing partnership with Ares Management Sources of Funds Uses of Funds New 8.5% First-Lien Term Loan 250.0 Repay…
Financial Strategy Continue to review strategic opportunities to reduce leverage and enhance liquidity Refinanced all near term debt and extended maturities Leverage Ratios and Liquidity Closed sale of non-core South acreage to…
STACK Drilling Overview Well Results Well Results Post IP Production Averages(1) Peak 30 Day Post 60 Day Post 90 Day Post 180 Day Post 270 Day Post 360 Day Post Current 5 Day Production Well Rate Peak Peak Peak Peak Peak Peak…
Hedge Detail Natural Gas Oil Period Contract Type Volume Hedged Price Period Contract Type Volume Hedged Price Apr - Dec 17 3-Way 5,000 MMBtu/d 3.00 / 2.35 / 4.00 Mar - Dec 17 3-Way 280 Bbl/d 80.00 / 65.00 / 97.25 Jan - Dec 18 3-Way…
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 19,100 net acres…
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