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November 2017 Investor Presentation – Gulfport Energy Corp.

Gulfport Energy Corp. · Nov 1, 2017 · 47 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 2017 Investor Presentation – Gulfport Energy Corp. – slide 1
    INVESTOR PRESENTATION NOVEMBER 2017
  2. November 2017 Investor Presentation – Gulfport Energy Corp. – slide 2
    Gulfport Company Overview Primary Areas of Operation(4) Key Statistics Market Capitalization(1) 2.5 Billion Enterprise Value(2) 4.3 Billion Pro Forma Liquidity(3) 968 Million Utica Shale 2016 Average Daily Production 719.8…
  3. November 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. November 2017 Investor Presentation – Gulfport Energy Corp. – slide 4
    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…
  5. November 2017 Investor Presentation – Gulfport Energy Corp. – slide 5
    Updated 2017 Guidance Key Highlights Gulfport has successfully acquired leasehold organically on the ground within units scheduled in our near-term development plan Acquired leasehold has led to a significant increase in working…
  6. November 2017 Investor Presentation – Gulfport Energy Corp. – slide 6
    Updated 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 91 % Gas 88%…
  7. November 2017 Investor Presentation – Gulfport Energy Corp. – slide 7
    Strong Post Acquisition Liquidity, Capitalization and Hedge Position Gas Hedges(1) Key Highlights 1,000 Gulfports strategic commitment to the balance sheet and conservative 900 4.00 leverage metrics provided the ability to pursue…
  8. November 2017 Investor Presentation – Gulfport Energy Corp. – slide 8
    SCOOP Recent Well Results Pauline 8-27X22H Springer Gas Gulfport Energy Overview Condensate Springer Oil Norm 24-hr IP: 2,409 Mcfe/d/1,000 51% Gas / 22% NGL / 27% Oil Lateral Length : 7,658 Gulfport closed the SCOOP acquisition in…
  9. November 2017 Investor Presentation – Gulfport Energy Corp. – slide 9
    SCOOP Springer & Sycamore Activity 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 Robinson 2-15-10XHS The Sycamore formation…
  10. November 2017 Investor Presentation – Gulfport Energy Corp. – slide 10
    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…
  11. November 2017 Investor Presentation – Gulfport Energy Corp. – slide 11
    Utica Asset Overview WWW.GULFPORTENERGY.COM 12
  12. November 2017 Investor Presentation – Gulfport Energy Corp. – slide 12
    Utica Shale Overview Asset Overview Net proved reserves of 2.3 Tcfe(1) 213,000 net acres(2) Gulfport Energy Oil - 1% Lance Pad Condensate - 11% Wet Gas - 13% Dry Gas - 75% 2017 Activities Update(3) Average net production of…
  13. November 2017 Investor Presentation – Gulfport Energy Corp. – slide 13
    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)…
  14. November 2017 Investor Presentation – Gulfport Energy Corp. – slide 14
    Utica Shale Diversified End Market Portfolio Overview(1) Rover Pipeline (Phase 2) DAWN Amount: 125,000 Dth/d MICHCON Market: Midwest and Dawn In-Service 1Q2018 ANR Pipeline NGPL Pipeline Amount: 20,000 Dth/d (North) Rover…
  15. November 2017 Investor Presentation – Gulfport Energy Corp. – slide 15
    Utica Shale Firm Transportation and Sales Outlets Firm Commitments (MMBtu per day) Overview(1) YE2014 YE2015 YE2016 YE2017 + 1,200,000 (MMBtu / day) Firm Sales Columbia (Gulf) November 2017 1,000,000 Midwest Markets TETCO…
  16. November 2017 Investor Presentation – Gulfport Energy Corp. – slide 16
    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 Gulfports…
  17. November 2017 Investor Presentation – Gulfport Energy Corp. – slide 17
    SCOOP Asset Overview WWW.GULFPORTENERGY.COM 18
  18. November 2017 Investor Presentation – Gulfport Energy Corp. – slide 18
    SCOOP Overview Springer Gas Asset Overview Condensate Springer Oil 92,900(1) net reservoir acres in the core of the SCOOP play in Grady, Stephens, and Garvin Counties, OK Gulfport Energy Includes 50,400 Woodford and 42,500 Springer…
  19. November 2017 Investor Presentation – Gulfport Energy Corp. – slide 19
    SCOOP Large Stacked Multi-Pay Inventory Overview Formation Overview Tonkawa Sand 50,400 net surface acres located in the heart of the SCOOP condensate and over-pressured gas windows with exposure to stacked pay zones Wade Sand…
  20. November 2017 Investor Presentation – Gulfport Energy Corp. – slide 20
    SCOOP Recent Well Results Lynda 26-23-1XH Tyemax Bia 1-35RXH Charlie Brown 1-17-8XH Lane 13-24-1XH Peppered Ranch 1-36-25 Vinson 2-22X27H Vinson 1-22H Newy 6-25-24-13XH Newy 7-25-24-13XH Ward Petroleum Marathon Continental Apache…
  21. November 2017 Investor Presentation – Gulfport Energy Corp. – slide 21
    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 GPOR Completed Operated Woodford Springer Sycamore Operated wells…
  22. November 2017 Investor Presentation – Gulfport Energy Corp. – slide 22
    SCOOP Type Curve Assumptions Woodford Springer Springer Gas Springer Oil Springer Gas Springer Condensate Dry Gas Wet Gas Condensate Condensate Oil Type Curve Assumptions Lateral Length 7,500 7,500 7,500 7,500 7,500 Well Cost (MM)…
  23. November 2017 Investor Presentation – Gulfport Energy Corp. – slide 23
    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…
  24. November 2017 Investor Presentation – Gulfport Energy Corp. – slide 24
    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,…
  25. November 2017 Investor Presentation – Gulfport Energy Corp. – slide 25
    Utica Appendix WWW.GULFPORTENERGY.COM 26
  26. November 2017 Investor Presentation – Gulfport Energy Corp. – slide 26
    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 77 119 182 444 258 Identified Net Locations 100 58 89 137 333 193 Type Curve…
  27. November 2017 Investor Presentation – Gulfport Energy Corp. – slide 27
    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…
  28. November 2017 Investor Presentation – Gulfport Energy Corp. – slide 28
    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%…
  29. November 2017 Investor Presentation – Gulfport Energy Corp. – slide 29
    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…
  30. November 2017 Investor Presentation – Gulfport Energy Corp. – slide 30
    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…
  31. November 2017 Investor Presentation – Gulfport Energy Corp. – slide 31
    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…
  32. November 2017 Investor Presentation – Gulfport Energy Corp. – slide 32
    Northeast Pipeline Expansion List 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 NE Marcellus to Northeast Transco NE Connector Project 100 100 100 100 100 100 100 100 100 100 100 100…
  33. November 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 13,820 9,206 28,563 33,603 82,336 43,717 Lateral…
  34. November 2017 Investor Presentation – Gulfport Energy Corp. – slide 34
    SCOOP Appendix WWW.GULFPORTENERGY.COM 35
  35. November 2017 Investor Presentation – Gulfport Energy Corp. – slide 35
    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…
  36. November 2017 Investor Presentation – Gulfport Energy Corp. – slide 36
    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)…
  37. November 2017 Investor Presentation – Gulfport Energy Corp. – slide 37
    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)…
  38. November 2017 Investor Presentation – Gulfport Energy Corp. – slide 38
    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 /…
  39. November 2017 Investor Presentation – Gulfport Energy Corp. – slide 39
    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…
  40. November 2017 Investor Presentation – Gulfport Energy Corp. – slide 40
    Appendix WWW.GULFPORTENERGY.COM 41
  41. November 2017 Investor Presentation – Gulfport Energy Corp. – slide 41
    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 2,846 Boepd during 3Q2017 1% of Gulfports total net production…
  42. November 2017 Investor Presentation – Gulfport Energy Corp. – slide 42
    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…
  43. November 2017 Investor Presentation – Gulfport Energy Corp. – slide 43
    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…
  44. November 2017 Investor Presentation – Gulfport Energy Corp. – slide 44
    NGL Marketing Overview Key Highlights Edmonton Markets Gulfport forecasts realizing approximately 45% to 50% of WTI for NGLS during 2017 Ontario Markets Midwest Northeast SCOOP barrel provides a strong baseload with Mont Markets…
  45. November 2017 Investor Presentation – Gulfport Energy Corp. – slide 45
    Hedged Production Hedge Book(1) 4Q17 2017 2018 2019 Natural Gas Contract Summary: Natural Gas Fixed Price Swaps (NYMEX) Volume (BBtupd) 765 629 898 112 Weighted Average Price (/MMBtu) 3.19 3.19 3.06 3.01 Natural Gas Fixed Price…
  46. November 2017 Investor Presentation – Gulfport Energy Corp. – slide 46
    Financial and Operational Summary 2015 2016 2017 3Q2017 1Q2015 2Q2015 3Q2015 4Q2015 FY 2015 1Q2016 2Q2016 3Q2016 4Q2016 FY 2016 1Q2017 2Q2017 3Q2017 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…
  47. November 2017 Investor Presentation – Gulfport Energy Corp. – slide 47
    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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