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Johnson Rice Energy Conference – Gmx Resources Inc.

Gmx Resources Inc. · Oct 5, 2011 · 25 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. Johnson Rice Energy Conference – Gmx Resources Inc. – slide 1
    GMXR Corporate Presentation Johnson Rice Energy Conference October 5 2011
  2. Johnson Rice Energy Conference – Gmx Resources Inc. – slide 2
    GMXRs Resource Plays Bakken Petroleum System Montana North Dakota Net acres 35,524 Units 1,280 acre 150 Total Locations 600 Operated Locations Est. 200 Working Interest Wyoming *Operated Est. 75% Non-Operated Est. 8% GMXR:…
  3. Johnson Rice Energy Conference – Gmx Resources Inc. – slide 3
    Liquidity Solutions Close Gap 32MM Cash; 2H11 operating flow; sale non-essential assets 2H 2011E and 2012E Potential Liquidity Sources ( in millions) Complete Cash at 6/30/11 5 2H11 Operating Cash Flow (1) 15 60 - 120MM VPP or…
  4. Johnson Rice Energy Conference – Gmx Resources Inc. – slide 4
    Rapid Capex Reallocation to Oil Production 2011 Capex Projections: 2012 Capex Projections: 281MM(1) 130MM Niobrara 29 75% working interest 49 10% 17% 1 rig in 4Q 2011, 9 Begin drilling March 2012. 43 3% 2nd rig August 2012.…
  5. Johnson Rice Energy Conference – Gmx Resources Inc. – slide 5
    Production and Revenue 2011 2012 : Bakken/Niobrara Oil/NGLs Natural Gas 3,971,000 BOE 2,951,000 BOE 13% Production 35% 115 Million(1) 111 Million 21% Revenue 62% Oil/NGL Production % Full Year 13% 35% 4Q 19%…
  6. Johnson Rice Energy Conference – Gmx Resources Inc. – slide 6
    GMXR Transformation to Oil Applying expertise of horizontal drilling in H/B to the Bakken Petroleum System (Bakken) and Niobrara Petroleum System (Niobrara) Opened Denver office; 10 professionals and support, field office in…
  7. Johnson Rice Energy Conference – Gmx Resources Inc. – slide 7
    Bakken Petroleum System Bakken
  8. Johnson Rice Energy Conference – Gmx Resources Inc. – slide 8
    Bakken Petroleum System Pennsylvanian Upper Devonian Upgrading Three Forks, on par if not superior to Middle Bakken Emerging story on expansion of oil column Bakken Tyler Typical System works in combination Depth 8,550 Otter…
  9. Johnson Rice Energy Conference – Gmx Resources Inc. – slide 9
    Greater Lewis and Clark Little Knife Focus Area Gibbins 1-12 1H Lloyd 34-3 1-H Satter 44-34NWH Greenstein 30-31 1H IP BOE 2,582 IP BOE 4,030 IP BOE 3,604 Ransom 44-31H IP BOE 3,232 IP BOE 2,464 Johnson 30-19 1H Satter 44-34SWH…
  10. Johnson Rice Energy Conference – Gmx Resources Inc. – slide 10
    Bakken Curves 1,000 1000 900 900 800 800 EUR Range: 300,000 800,000 BOE Bakken First Generation 700 700 GMXR Model: 500,000 600,000 BOE Rate (average BOEPD) 600 600 500 500 1st 2nd 3rd 4th 5th 400 400 Month…
  11. Johnson Rice Energy Conference – Gmx Resources Inc. – slide 11
    Development of the Bakken is Underway 600 undrilled 9,500' lateral locations in 150 units (1,280-acre) with 1/3 of well locations operated Expect to operate 50 units (1,280-acre) with 200 well locations W.I. averages 75% in 2011,…
  12. Johnson Rice Energy Conference – Gmx Resources Inc. – slide 12
    Bakken Well Overview Operated Well Development Well Name County Location GMX WI Status Wock 21-2-1H Stark Sec. 2&11-140N-98W 100% Fracture Treating 9/30 Frank 31-4-1H Stark Sec. 4&9-140N-98W 52% Drilling Lateral Evoniuk 21-2-1H Billings…
  13. Johnson Rice Energy Conference – Gmx Resources Inc. – slide 13
    Niobrara Petroleum System Niobrara
  14. Johnson Rice Energy Conference – Gmx Resources Inc. – slide 14
    Niobrara Petroleum System 800' Upper Cretaceous Niobrara Lateral Target: Typical B Chalks (0.2 mD or 200k nD) Depth Codell/Turner Sandstone; produced 30 mm BBLS of oil and 320 BCF of gas in the Wattenberg Field A & C Chalks plus…
  15. Johnson Rice Energy Conference – Gmx Resources Inc. – slide 15
    Finding Joints and Fractures SSN: Spirit of America US 34 1-29 SSN: Defender SSN: Constellation US 20 11,000 vertical test to Precambrian basement, testing US 33 3-29H multiple conventional targets in the Permian and State 1-36H…
  16. Johnson Rice Energy Conference – Gmx Resources Inc. – slide 16
    Niobrara Curves Significant upside potential with modern completion schemes 700 D-J Basin Niobrara 600 EOG Jake 2-1H 500 Single Stage Completion Leroy 4 HZ Silo Field 400 Rate (bopd) 1st 2nd 3rd 4th 5th Month Month…
  17. Johnson Rice Energy Conference – Gmx Resources Inc. – slide 17
    Development of the Niobrara is Underway Doty Hill / North Mustang; Goshen County, WY (9,374 net acres) Northern DJ Devon seismic shoot completed (135 square miles) Begin drilling operated vertical well in 4Q11 52 gross units…
  18. Johnson Rice Energy Conference – Gmx Resources Inc. – slide 18
    Niobrara Well Overview Spirit of America 1-29 H&T Ranch 2-2344H TD 12,088, 8/27/11, SSN Spud 7/7/11 DVN Confidential well, no lateral length available Defender US 33 3-29H H&T Ranch 7-2344M SSN, Spud 7/6/11 Monitor well, TD 8,521…
  19. Johnson Rice Energy Conference – Gmx Resources Inc. – slide 19
    East Texas
  20. Johnson Rice Energy Conference – Gmx Resources Inc. – slide 20
    Haynesville Bossier Strong Asset Base High Quality Natural Gas Resource Base YE 2010 H/B proved reserves 234 BCFE, PV10 152 GMXR operates 85% of 25,224 net H/B acres 39 H/B producers (1) 27 PUDS 226 additional net potential H/B…
  21. Johnson Rice Energy Conference – Gmx Resources Inc. – slide 21
    Vertical and Horizontal Development Cotton Valley Sands 254 CV Hz avg. lateral length 3,297 Devon/Comstock Activity Spurred by DVNs 2006 announcement BP Activity Haygood Lois 11H IP 8 mmcfe Laterals were typically 3000 ft due to…
  22. Johnson Rice Energy Conference – Gmx Resources Inc. – slide 22
    Waskom-Blocker Cotton Valley Horizontals : Driving higher value for the Play GMXR drills 3 short laterals in 2006 followed by DVN in 2007 CRK, BP and other begin in 2008 with CRK projecting 3 Bcf EUR in 2008 for average drilled…
  23. Johnson Rice Energy Conference – Gmx Resources Inc. – slide 23
    Scaled-up 7.5 BCFE EUR for 7,500 Ft Cotton Valley Sands Laterals Cotton Valley and Shallow Zones Net Production for September 2011 Total MMCFED 13.8 18% NGL & Oil Net Developed Reserves Net total MMFE 88.7 BCFE Net PDP 60 BCFE…
  24. Johnson Rice Energy Conference – Gmx Resources Inc. – slide 24
    Multi-Year Inventory in Four Resource Plays Potential Reserves(1): 186 MMBOE + 1.6 TCFE Reserve H/B Proved Reserves 234.1 BCFE 695 Net Hz Undrilled Locations CVS Proved Reserves 85.2 BCFE Total Proved Reserves 319.3 BCFE Oil to…
  25. Johnson Rice Energy Conference – Gmx Resources Inc. – slide 25
    Transformation Execution Liquidity Opportunities and Well Results Fund Acceleration of Oil Development 100% of CAPEX Targeting New Oil Wells Utilize Seismic to Enhance Development in Niobrara and East Texas Oil Hedges Ensure…

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