Company Highlights Balanced Portfolio Long-Term Growth 71,000 net acres in two premier U.S. liquids resource plays Strong Current Cash Flow/Profitability 5,545 Boe/d of production in 3Q 2011 (65% oil) 24 Mmboe proved reserves; 60%…
Company Overview Bakken Operations focused in Texas, Gulf Coast 46,000 net acres and Williston Basin Oil-weighted production and reserves from primarily operated properties Growing production profile Significant low-risk drilling…
Reserves and Production Current Proved Reserves 24.0 MMBOE (1) Proved Reserves (MMBOE)(2) Average Daily Production (BOE/d) (BOE/d) (3) (1) As of January 1, 2011. Excludes partnership interests. (2) 2006 2010 proved…
GeoResources Asset Overview Oil Weighted Development 6
Bakken Shale Overview 46,000 total net acres in three project areas Williams County Project (Operated) Concentrated 25,000 net acre block 8 wells drilled and completed Eastern Montana Project (Primarily Operated) 8,200 operated /…
Williams County Project Concentrated 25,000 net acre block in Peak Month Average Rates In Project Area NW Williams Co., ND Will spud 10 - 11 gross wells in 2011 and 23 26 gross wells in 2012 2011 & 2012 drilling programs average 345…
Williams County Development Economics Development Economics (1,280 Acre Unit)(1)(2) (1) Assumes oil differential of (15%) and assumes gas shrinkage of (10%). Natural gas price held constant at 5/Mcf with no gas differential. (2) EUR…
Eagle Ford Shale Overview 25,000 net acres primarily Southwest Fayette County, TX Will spud 8 - 9 gross wells in 2011 and 21 - 24 in 2012 2011 & 2012 drilling programs average 40% - 45% WI Eagle Ford AMI Ramshorn Investments,…
Eagle Ford Shale Concentrated 23,000 net acre block in volatile oil window in Fayette/Gonzales GEOI Peebles 1H Awaiting Frac Counties GEOI Ring A Currently Drilling GEOI Black Jack Springs 1H 30 day Avg. Rate: 369 Boe/d…
Eagle Ford Development Economics Development Economics (5,000 ft. Lateral)(1)(2) (1) Assumes oil differentials of (5%) and assumes gas shrinkage of (15%). Natural gas price held constant at 5/Mcf with a +20% gas differential. (2)…
Eagle Ford Illustrative Resource Potential Resource Potential (1) Eagle Ford Shale (Fayette Co., Texas) 350 Mboe 500 Mboe Assumed Spacing Unit Size (Acres) 900 900 Wells per Spacing Unit 6 6 Acres per Well (Spacing Unit / Wells…
Austin Chalk 29,000 net acres in Giddings Area Austin Chalk Acreage 17 wells drilled 100% success Milam WI ranges from 37% - 53% W GEOI West Cannon Unit Operating control 60 Day Avg.: 1,014 Boe/d (67% oil) Majority of acreage…
Focused on Improving Economics Eagle Ford Bakken Improving drilling efficiencies Improving drilling efficiencies Drilling without intermediate casing Efforts to date have reduced drilling time from Pad drilling 30 to 20 days…
Financial Overview
Capital Plan and Production Guidance Capital Allocation Production Guidance 2011 capital plan of approximately 120 MM Year Ending December 31, 2011 5,000 to 5,500 boe/d estimated daily rate 61% to 65% oil 2012 capital plan of 188…
Strong Financial Position Conservative use of leverage to maintain strong balance sheet Ability to fund 2012 capital budget with cash flow and undrawn debt capacity Twelve months ended 9/30/11 EBITDAX(1) = 77.6 MM 216 MM of…
Investment Highlights Significant upside from Eagle Ford and Bakken positions Eagle Ford Shale - 25,000 net acres Bakken Shale - 46,000 net acres Ongoing leasing program to further expand acreage Solid proved reserve and production…
Appendix
Management History Track record of creating value and liquidity for shareholders Extensive industry and financial relationships Significant technical and financial experience Multiple long-term repeat shareholders Cohesive…
Quarterly Production By Area Diverse production base from multiple areas Bakken and Eagle Ford production are growing Oil-weighted production continues to accelerate Daily Production by Area (Boe/d) 3 Mos Ended 9/30/11 3 Mos…
Bakken AMI Drilling Locations Marathon Wells Note: Information as of November, 2011. GEOI operated wells are labeled with well names. Black labels represent GEOI wells that have been spud, red labels represent GEOI wells that…
Development Economics Table Development Economics(2) Bakken Shale (Williams Co., North Dakota) Eagle Ford Shale (Fayette Co., Texas) 350 Mboe 500 Mboe 350 Mboe 500 Mboe Well Assumptions Drilling & Completion Cost (M) 8,500 8,500…
Proved Reserves Proved Reserves SEC Pricing at 1/1/11 ( in millions) Oil Gas Total % of Corporate Interests MMBO BCF MMBOE Total PV-10 (1) PDP 8.9 33.0 14.4 60.0% 239.6 PDNP 2.3 6.1 3.4 14.2% 68.5 PUD 3.2 18.4 6.2 25.8% 70.2 Total…
Hedge Portfolio GEOI uses commodity price risk management in order to execute its business plan throughout commodity price cycles Oil Hedges Natural Gas Hedges 85 .00 to 110.00 Collar Swap Weighted Average Oil Hedge Price…
Operating Performance Historical Operating Data 12 Mos Ended Years Ended December 31, 9/30/2011 2010 2009 2008 Key Data: Average realized oil price (/Bbl) 83.45 70.33 61.09 82.42 Avg. realized natural gas price (/Mcf) 5.30 5.30 3.97…
Reconciliation of non-GAAP Measures Adjusted EBITDAX Reconciliation 12 Mos Ended Years Ended December 31, 9/30/2011 2010 2009 2008 ( in millions) Net Income Attributable to GeoResources 29.8 23.3 9.8 13.5 Adjustments: (Gain) on sale…
Reconciliation of non-GAAP Measures Adjusted Net Income Reconciliation 12 Mos Ended Years Ended December 31, 9/30/2011 2010 2009 2008 ( in millions) Net Income Attributable to GeoResources 29.8 23.3 9.8 13.5 Adjustments: Unrealized…
Standardized Measure SEC PV-10 Reconciliation to Standardized Measure(1) ( in millions) 1/1/2011 Direct interest in oil and gas reserves: Present value of estimated future net revenues (PV-10%) 378.3 Future income taxes at 10%…
Additional Disclosures The disclosures below apply to the contents of this presentation: In April 2007, GeoResources, Inc. (GEOI or the Company) merged with Southern Bay Oil & Gas, L.P. (Southern Bay) and a subsidiary of Chandler…
Loading...
