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2Q 2017 Investor Presentation – Gulfport Energy Corp.

Gulfport Energy Corp. · Aug 8, 2017 · 52 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. 2Q 2017 Investor Presentation – Gulfport Energy Corp. – slide 1
    INVESTOR PRESENTATION AUGUST 2017
  2. 2Q 2017 Investor Presentation – Gulfport Energy Corp. – slide 2
    Gulfport Company Overview Primary Areas of Operation(4) Key Statistics Market Capitalization(1) 2.1 Billion Enterprise Value(2) 3.7 Billion Pro Forma Liquidity(3) 670 Million Utica Shale Acreage: 211,000 Net Acres 2016 Average…
  3. 2Q 2017 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. 2Q 2017 Investor Presentation – Gulfport Energy Corp. – slide 4
    Second Quarter 2017 Highlights Daily Net Production Production Mix Adjusted Oil and Gas Revenues Gas 12% Liquids Produced 1,038.4 Totaled MMcfe 88% Approximately Increased 56% per day Increased 55% 264.1 million(1)…
  5. 2Q 2017 Investor Presentation – Gulfport Energy Corp. – slide 5
    2017 Planned Activity Key Highlights 2017E Capital Expenditures(1) Expect to invest 1.0 to 1.1 billion in 2017 1,100 115 1,050 Plan to fund within available sources of liquidity 1,000 55 In the Utica Shale, currently running six…
  6. 2Q 2017 Investor Presentation – Gulfport Energy Corp. – slide 6
    2017 Activity Economic Focus During 2017, plan to focus Utica Shale activity in the dry gas windows and SCOOP activity in the wet gas window of the play. Allocation of capital split between two top-tier basins with dry gas and liquids…
  7. 2Q 2017 Investor Presentation – Gulfport Energy Corp. – slide 7
    Gulfport 2017 Guidance 2017E Capital Budget 2017E Forecasted Activity Year Ending Year Ending 12/31/2017 12/31/2017 Forecasted Production Net Wells Drilled Average Daily Gas Equivalent MMcfepd 1,065 1,100 Utica Operated 67 74 % Gas…
  8. 2Q 2017 Investor Presentation – Gulfport Energy Corp. – slide 8
    Strong Post Acquisition Liquidity, Capitalization and Hedge Position Gas Hedges(1) Key Highlights 800 Gulfports strategic commitment to the balance sheet and conservative 4.00 leverage metrics provide the ability to pursue an…
  9. 2Q 2017 Investor Presentation – Gulfport Energy Corp. – slide 9
    Utica Shale Notable Wells Results Schubert Pad Key Highlights Gulfports Utica wells demonstrate strong performance from north to south and east to west across the play Ward Pad The Schubert pad is Gulfports first producing well in…
  10. 2Q 2017 Investor Presentation – Gulfport Energy Corp. – slide 10
    SCOOP Gulfports First Operated Completions Springer Gas Overview Condensate Springer Oil Gulfport began pumping first operated completion on March 1, 2017 Frac design on these wells includes an enhanced completion when compared to…
  11. 2Q 2017 Investor Presentation – Gulfport Energy Corp. – slide 11
    SCOOP Peer Activity Highlighting Springer & Sycamore Springer Gas Strassle 1-28-33XH Continental Overview Condensate Springer Oil Norm IP24-Hr: 1,300 Mcfe/d/1,000 89% Oil / 11% Gas Lateral Length : 5,800 The Sycamore formation is…
  12. 2Q 2017 Investor Presentation – Gulfport Energy Corp. – slide 12
    Key Investment and Financial Highlights Core acreage positions in two of the most prolific, high-quality natural gas plays in North America Basin diversification provides optionality to allocate capital across two premier assets…
  13. 2Q 2017 Investor Presentation – Gulfport Energy Corp. – slide 13
    Utica Asset Overview WWW.GULFPORTENERGY.COM 14
  14. 2Q 2017 Investor Presentation – Gulfport Energy Corp. – slide 14
    Utica Shale Overview Asset Overview Net proved reserves of 2.3 Tcfe(1) 211,000 net acres(2) Oil - 1% Condensate - 11% Wet Gas - 13% Dry Gas - 75% Gulfport Energy 2017 Activities Update(3) Krupa Pad Average net production of…
  15. 2Q 2017 Investor Presentation – Gulfport Energy Corp. – slide 15
    Utica Shale Drilling and Completion Activity Net Wells Drilled Operated 82 Non-Op 11 Dry Gas 46 Wet Gas 3 71 16 40 12 11 0.3 8 1 2 1 15 11 7 7 2 3 1 1Q'16 2Q'16 3Q'16 4Q'16 YE2016 2017E (1) Net Wells…
  16. 2Q 2017 Investor Presentation – Gulfport Energy Corp. – slide 16
    Utica Shale Type Curve Assumptions Condensate Wet Dry Gas (1) Type Curve Assumptions West East Gas West Central East Lateral Length 8,000 8,000 8,000 8,000 8,000 8,000 Well Cost (MM) 7.7 7.7 8.3 8.5 8.7 8.9 Well Cost ( per foot)…
  17. 2Q 2017 Investor Presentation – Gulfport Energy Corp. – slide 17
    Utica Shale Consistency of Reservoir West East B A A A 116 ft 118 ft A South North B B B LEGEND Gulfport Acreage 98 ft 122 ft Key Highlights Consistency of the reservoir enables us to stay within the target…
  18. 2Q 2017 Investor Presentation – Gulfport Energy Corp. – slide 18
    Utica Shale Diversified End Market Portfolio Overview(1) Rover Pipeline (North) DAWN Amount: 125,000 Dth/d MICHCON Market: Midwest and Dawn In-Service 4Q2017 ANR Pipeline NGPL Pipeline Amount: 20,000 Dth/d (North)…
  19. 2Q 2017 Investor Presentation – Gulfport Energy Corp. – slide 19
    Utica Shale Firm Transportation and Sales Outlets Firm Commitments (MMBtu per day) Overview(1) YE2014 YE2015 YE2016 YE2017 + 1,200,000 Firm Sales (MMBtu / day) Columbia (Gulf) November 2017 1,000,000 TETCO (Michcon) Current…
  20. 2Q 2017 Investor Presentation – Gulfport Energy Corp. – slide 20
    Utica Shale Overview of Firm Portfolio Overview YE 2017 Secured Firm Commitments(1) Gulfport was first-mover in securing early access to premium Midwest 1,225,000 markets and early transport at low costs out of the basin Expect to…
  21. 2Q 2017 Investor Presentation – Gulfport Energy Corp. – slide 21
    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…
  22. 2Q 2017 Investor Presentation – Gulfport Energy Corp. – slide 22
    SCOOP Asset Overview WWW.GULFPORTENERGY.COM 23
  23. 2Q 2017 Investor Presentation – Gulfport Energy Corp. – slide 23
    SCOOP Overview Springer Gas Asset Overview Condensate Springer Oil 87,700(1) net reservoir acres in the core of the SCOOP play in Grady, Stephens, and Garvin Counties, OK Gulfport Energy Includes 49,200 Woodford and 38,500 Springer…
  24. 2Q 2017 Investor Presentation – Gulfport Energy Corp. – slide 24
    SCOOP Geologic Overview Overview Regional Stratigraphy Overpressured Woodford was deposited on an erosional surface and varies in thickness, increasing to the south Mississippian into the SCOOP Springer Sycamore section in the…
  25. 2Q 2017 Investor Presentation – Gulfport Energy Corp. – slide 25
    SCOOP Large Stacked Multi-Pay Inventory Overview Formation Overview Tonkawa Sand 49,200 net surface acres located in the heart of the SCOOP condensate and over-pressured gas windows with exposure to stacked pay zones Wade Sand…
  26. 2Q 2017 Investor Presentation – Gulfport Energy Corp. – slide 26
    SCOOP Recent Well Results Tyemax Bia 1-35RXH Charlie Brown 1-17-8XH Lane 13-24-1XH Vinson 2-22X27H Newy 7-25-24-13XH Turner Trust 2N5W 1-12H Turner Trust 3-12H Marathon Continental Apache Gulfport Energy Continental Vitruvian Vitruvian…
  27. 2Q 2017 Investor Presentation – Gulfport Energy Corp. – slide 27
    SCOOP List of High Quality Results Continues to Expand 3,500 3,000 Normalized IP30 (Mcfe/d/1,000') 2,500 2,000 1,500 1,000 500 0 Operated Woodford Springer Sycamore Operated wells make up nearly…
  28. 2Q 2017 Investor Presentation – Gulfport Energy Corp. – slide 28
    SCOOP Type Curve Assumptions Woodford Springer Springer Gas Springer Springer Gas Dry Gas Wet Gas Condensate Condensate Oil Condensate Springer Oil Type Curve Assumptions Lateral Length 7,500 7,500 7,500 7,500 7,500 Well Cost (MM)…
  29. 2Q 2017 Investor Presentation – Gulfport Energy Corp. – slide 29
    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…
  30. 2Q 2017 Investor Presentation – Gulfport Energy Corp. – slide 30
    SCOOP Marketing Overview Key Highlights Canadian Building a diversified gas takeaway portfolio Exports Gulfport holds firm transportation of varying duration into connecting pipes with multiple deliveries including Bennington,…
  31. 2Q 2017 Investor Presentation – Gulfport Energy Corp. – slide 31
    Utica Appendix WWW.GULFPORTENERGY.COM 32
  32. 2Q 2017 Investor Presentation – Gulfport Energy Corp. – slide 32
    Utica Shale Type Curve Assumptions Condensate Condensate Dry Gas Dry Gas Dry Gas Wet Gas West East West Central East Identified Gross Locations(4) 134 78 123 180 446 259 Identified Net Locations 101 58 92 135 335 194 Type Curve…
  33. 2Q 2017 Investor Presentation – Gulfport Energy Corp. – slide 33
    Utica Shale Condensate Window Type Curves Condensate Type Curve Assumptions(1) West East Single Well Economics(1) Lateral Length 8,000 8,000 50% 48% Well Cost (MM) 7.7 7.7 Well Cost ( per foot) 962 964 40% 43% 28% 30% Total…
  34. 2Q 2017 Investor Presentation – Gulfport Energy Corp. – slide 34
    Utica Shale Wet Gas Window Type Curves Wet Type Curve Assumptions(1) Gas Single Well Economics(1) Lateral Length 8,000 120% 120% Well Cost (MM) 8.3 100% Well Cost ( per foot) 1,035 80% 77% Total EUR (Bcfe / 1,000) 2.0 60%…
  35. 2Q 2017 Investor Presentation – Gulfport Energy Corp. – slide 35
    Utica Shale Dry Gas Window Type Curves Dry Gas Type Curve Assumptions(1) West Central East Single Well Economics(1) Lateral Length 8,000 8,000 8,000 130% Well Cost (MM) 8.5 8.7 8.9 140% 129% Well Cost ( per foot) 1,060 1,085 1,110…
  36. 2Q 2017 Investor Presentation – Gulfport Energy Corp. – slide 36
    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 13,857 9,263 27,710 32,979 82,051 42,952 Lateral…
  37. 2Q 2017 Investor Presentation – Gulfport Energy Corp. – slide 37
    Northeast Pipeline Expansion List 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 NE Marcellus to Northeast Transco NE Connector Project 100 100 100 100 100 100 100 100 100 100 100…
  38. 2Q 2017 Investor Presentation – Gulfport Energy Corp. – slide 38
    SCOOP Appendix WWW.GULFPORTENERGY.COM 39
  39. 2Q 2017 Investor Presentation – Gulfport Energy Corp. – slide 39
    SCOOP Type Curve Assumptions Woodford Dry Gas Woodford Wet Gas Woodford Condensate Identified Gross Locations 402 528 249 Identified Net Locations 65 182 33 Type Curve Assumptions Lateral Length (ft.) 7,500 7,500 7,500 Wells/section…
  40. 2Q 2017 Investor Presentation – Gulfport Energy Corp. – slide 40
    SCOOP Woodford Dry Gas Window Type Curves Woodford Type Curve Assumptions(1) Dry Gas Single Well Economics(1) Lateral Length 7,500 60% Well Cost (MM) 12.3 52% Well Cost ( per foot) 1,633 50% 36% 40% Total EUR (Bcfe / 1,000)…
  41. 2Q 2017 Investor Presentation – Gulfport Energy Corp. – slide 41
    SCOOP Woodford Wet Gas Window Type Curves Woodford Type Curve Assumptions(1) Wet Gas Single Well Economics(1) Lateral Length 7,500 120% Well Cost (MM) 10.5 109% Well Cost ( per foot) 1,395 100% 78% 80% Total EUR (Bcfe / 1,000)…
  42. 2Q 2017 Investor Presentation – Gulfport Energy Corp. – slide 42
    SCOOP Woodford Condensate Window Type Curves Woodford Type Curve Assumptions(1) Condensate Single Well Economics(1) Lateral Length 7,500 140% Well Cost (MM) 9.7 122% Well Cost ( per foot) 1,295 120% 100% 85% Total EUR (Bcfe /…
  43. 2Q 2017 Investor Presentation – Gulfport Energy Corp. – slide 43
    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…
  44. 2Q 2017 Investor Presentation – Gulfport Energy Corp. – slide 44
    SCOOP Completion Case Study Key Points Normalized 7,500 30-Day IP (MMcf/d) Castle 1-35H was completed March 21.2 2015 with Gen 1B design on 4,661 ft. lateral Anita Fowler 1-27X26H was completed 13.8 in July 2016 with a Gen 4B…
  45. 2Q 2017 Investor Presentation – Gulfport Energy Corp. – slide 45
    Appendix WWW.GULFPORTENERGY.COM 46
  46. 2Q 2017 Investor Presentation – Gulfport Energy Corp. – slide 46
    Southern Louisiana Asset Overview(1) Net proved reserves of 2.6 MMBoe 10,834 net acres Gulfport operated 2017 Activities Update(2) Average net production of 3,022 Boepd during 2Q2017 2% of Gulfports total net production…
  47. 2Q 2017 Investor Presentation – Gulfport Energy Corp. – slide 47
    Mammoth Energy Services Mammoth Energy Overview (1) Mammoth Energy is a North American provider of diverse oil field services for the onshore unconventional oil and gas sector On October 19, 2016, Mammoth Energy completed its…
  48. 2Q 2017 Investor Presentation – Gulfport Energy Corp. – slide 48
    Strike Force Midstream Joint Venture Overview GPOR and RICE formed midstream JV, Strike Force Midstream LLC, to provide gas gathering and compression to GPORs Eastern Belmont and Monroe acreage Approximately 165 miles of high and…
  49. 2Q 2017 Investor Presentation – Gulfport Energy Corp. – slide 49
    NGL Marketing Overview Key Highlights Edmonton Markets Gulfport forecasts realizing 45% of WTI for NGLS during 2017 Ontario Markets Midwest Northeast SCOOP barrel provides a strong baseload with Mont Markets Markets Belvieu…
  50. 2Q 2017 Investor Presentation – Gulfport Energy Corp. – slide 50
    Hedged Production Hedge Book(1) 3Q17 4Q17 2017 2018 2019 Natural Gas Contract Summary: Natural Gas Fixed Price Swaps (NYMEX) Volume (BBtupd) 708 765 629 775 57 Weighted Average Price (/MMBtu) 3.19 3.19 3.19 3.06 3.10 Natural Gas…
  51. 2Q 2017 Investor Presentation – Gulfport Energy Corp. – slide 51
    Financial and Operational Summary 2015 2016 2017 2Q2017 1Q2015 2Q2015 3Q2015 4Q2015 FY 2015 1Q2016 2Q2016 3Q2016 4Q2016 FY 2016 1Q2017 2Q2017 YTD 2017 FY2017E Q-o-Q Y-o-Y Production Gas Bcf 26.0 33.1 48.1 48.9 156.2 53.3 52.8 58.2…
  52. 2Q 2017 Investor Presentation – Gulfport Energy Corp. – slide 52
    GULFPORT ENERGY HEADQUARTERS 3001 Quail Springs Parkway Oklahoma City, OK 73134 www.gulfportenergy.com INVESTOR RELATIONS (405) 252-4550 Investor_relationsgulfportenergy.com

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