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December 2017 Investor Presentation – Goodrich Petroleum Corp.

Goodrich Petroleum Corp. · Dec 4, 2017 · 27 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. December 2017 Investor Presentation – Goodrich Petroleum Corp. – slide 1
    NYSE American: GDP Investor Presentation December 2017
  2. December 2017 Investor Presentation – Goodrich Petroleum Corp. – slide 2
    Company Overview Value and Growth Investment Opportunity with an Enhanced Balance Sheet, Very High Leverage to the Haynesville and the Ability to Rapidly Grow Volumes, EBITDA and Reserves ASSETS: Core Haynesville, Angelina River…
  3. December 2017 Investor Presentation – Goodrich Petroleum Corp. – slide 3
    Properties HAYNESVILLE SHALE - CORE Gross (Net) Acres (Current): 37,500 (18,500) Proved Reserves (YE16 - SEC) 281.6 Bcfe Objective: Haynesville Shale HAYNESVILLE / BOSSIER SHALE ANGELINA RIVER TREND (ART) Gross (Net) Acres…
  4. December 2017 Investor Presentation – Goodrich Petroleum Corp. – slide 4
    Capitalization Table (3Q17) (USD in thousands) Cash 32,000 Debt Senior Credit Facility 17,000 2L Convertible Notes (PIK) 46,000 Total Debt 63,000 Total Net Debt 31,000 December 2017 5
  5. December 2017 Investor Presentation – Goodrich Petroleum Corp. – slide 5
    NET DEBT/EBITDA 18 16 14 12 10 8 6 4 2 0 -2 GDP -4 Source: Bloomberg, Company December 2017 Peer Group Includes: APA,AR,AREX,BBG,BCEI,CHK,CLR,CNX,COG,CPE,CRC,CRK,CRZO,…
  6. December 2017 Investor Presentation – Goodrich Petroleum Corp. – slide 6
    Production (Mcfe/d) 70,000 60,000 50,000 Eagle Ford 40,000 30,000 TMS 20,000 10,000 Haynesville - 2015 2016 2Q17 3Q17 Dec17 - Jan18 Total December 2017 7
  7. December 2017 Investor Presentation – Goodrich Petroleum Corp. – slide 7
    EV/EBITDA 16.00 14.00 12.00 10.00 8.00 6.00 4.00 2.00 0.00 GDP Source: Bloomberg, Company December 2017 Peer Group Includes: APA,AR,AREX,BBG,BCEI,CHK,CLR,CNX,COG,CPE,CRC,CRK,CRZO,…
  8. December 2017 Investor Presentation – Goodrich Petroleum Corp. – slide 8
    Consensus Growth In 2018 EBITDA Per 1,000,000 Of CAPEX (2018 EBITDA 2017 EBITDA/2018 CAPEX) 54 Company Peer Group Growth in EBITDA 700,000 600,000 500,000 400,000 300,000 200,000 100,000 - GDP Source: Company and RS…
  9. December 2017 Investor Presentation – Goodrich Petroleum Corp. – slide 9
    Capital Efficiency Cost To Add An Additional Mcfe of Production (Capital Efficiency = Capex/Production Adds) 54 Company Peer Group Capital Efficiency 35,000 30,000 25,000 20,000 15,000 10,000 5,000 - GDP Source: Company…
  10. December 2017 Investor Presentation – Goodrich Petroleum Corp. – slide 10
    Company Leasehold Position Greenwood-Waskom / North Louisiana (Haynesville) Metcalf/Longwood Total Gross/Net Acres: 38,000/18,500 4,700 Net Ac Average WI/NRI: 40%/29% Acreage HBP: 100% 89 total producing wells (17 Operated)…
  11. December 2017 Investor Presentation – Goodrich Petroleum Corp. – slide 11
    Haynesville Shale Highlights Type Log (Goodrich Petroleum, James Cook 1 Caddo Parish, Louisiana) Dark organic rich, brittle mudstone-shale with modest clay…
  12. December 2017 Investor Presentation – Goodrich Petroleum Corp. – slide 12
    Haynesville Shale Regional Cross - Section (South - North) December 2017 13
  13. December 2017 Investor Presentation – Goodrich Petroleum Corp. – slide 13
    Haynesville Recent Industry Activity CRK CHK CHK CHK CHK WILL 22&27&34- CRK CRK CHK FLORSHEIM 9-16 HC CA 12&13-15 -15 HC CA 12&13-15 -15 HC Nguyen 5&8-15-14HC 15-15HC - 001-ALT 14 Permitted or HUNTER 28-21HC 1&2 GEPH Unit 1&2…
  14. December 2017 Investor Presentation – Goodrich Petroleum Corp. – slide 14
    Recent Haynesville 4,600' Wells 100,000 GDP, Wurtsbaugh 26H 1-ALT (5,000/ft Frac) Average Well Performance 1 Well (4,749/ft Frac) Company Type Curve: 10,000 EUR: 11.5 Bcf (2.5 Bcf/1,000 ft) Gas Production, Mcfpd Average…
  15. December 2017 Investor Presentation – Goodrich Petroleum Corp. – slide 15
    4,600' Laterals Cum Production (MCF) 6,000,000 Average Well Performance 1 Well (4,749/ft Frac) 5,000,000 Company Type Curve: EUR: 11.5 Bcf (2.5 Bcf/1,000 ft) 4,000,000 Cum Production (MCF) 3,000,000 Company Type Curve…
  16. December 2017 Investor Presentation – Goodrich Petroleum Corp. – slide 16
    Recent Haynesville 7,500' Wells 100,000 GDP, Wurtsbaugh 25&24 1 (8,800' LL, 4,000/ft Frac) Average Well Performance 21 Wells 20 Wells 16 Wells 21 Wells (2,800/ft Frac) Company Type Curve: 10,000 EUR: 18.75 Bcf (2.5…
  17. December 2017 Investor Presentation – Goodrich Petroleum Corp. – slide 17
    7,500' Laterals Cum Production (MCF) 8,000,000 Company Type Curve: EUR: 18.75 Bcf (2.5 Bcf/1,000 ft) 7,000,000 Average Well Performance 21 Wells (2,800/ft Frac) 6,000,000 5,000,000 Cum Production (MCF) Company Type…
  18. December 2017 Investor Presentation – Goodrich Petroleum Corp. – slide 18
    Recent Haynesville 10,000' Wells 100,000 ROTC 2 Well Average (4,000/ft) Average Well Performance 3 Wells (3,200/ft Frac) Company Type Curve: EUR: 25 Bcf (2.5 Bcf/1,000 ft) 10,000 Gas Production, Mcfpd GDP, Wurtsbaugh…
  19. December 2017 Investor Presentation – Goodrich Petroleum Corp. – slide 19
    10,000' Laterals Cum Production (MCF) 10,000,000 Company Type Curve: 9,000,000 EUR: 25 Bcf (2.5 Bcf/1,000 ft) 8,000,000 ROTC 2 Well Average 7,000,000 (4,000/ft) 6,000,000 Cum Production (MCF) Company Type Curve…
  20. December 2017 Investor Presentation – Goodrich Petroleum Corp. – slide 20
    Haynesville Shale Single Well (4,600 Lateral) Economics Assumptions Louisiana Type Curve 4,600' Lateral Type Curve 100,000 Avg Daily Production (Mcfpd) EUR 11.5 Bcf (2.5 Bcf/1,000) 10,000 Sales Gas BTU Price 1.022 Adjustment…
  21. December 2017 Investor Presentation – Goodrich Petroleum Corp. – slide 21
    Haynesville Shale Single Well (7,500 Lateral) Economics Assumptions Louisiana Type Curve 7,500' Lateral Type Curve 100,000 Avg Daily Production (Mcfpd) EUR 18.75 Bcf (2.5 Bcf/1,000) 10,000 Sales Gas BTU Price 1.022 Adjustment…
  22. December 2017 Investor Presentation – Goodrich Petroleum Corp. – slide 22
    Haynesville Shale Single Well (10,000 Lateral) Economics Assumptions Louisiana Type Curve 10,000' Lateral Type Curve 100,000 Avg Daily Production (Mcfpd) EUR 25.0 Bcf (2.5 Bcf/1,000) 10,000 Sales Gas BTU Price 1.022 Adjustment…
  23. December 2017 Investor Presentation – Goodrich Petroleum Corp. – slide 23
    Summary & Outlook Strong 3Q17 Growth in Adjusted EBITDAX Driven By Increased Production On A Much Lower Unit Cost Structure. This Will Continue, Which Will Drive Our Margin Expansion One Operated Rig Running Currently, With 3…
  24. December 2017 Investor Presentation – Goodrich Petroleum Corp. – slide 24
    Appendix
  25. December 2017 Investor Presentation – Goodrich Petroleum Corp. – slide 25
    SEC Year-End Proved Reserves (Bcfe) 350 300 250 Eagle Ford 200 ETX TMS 150 NLA - Haynesville 100 Total 50 0 2014 2015 2016 December 2017 A-1
  26. December 2017 Investor Presentation – Goodrich Petroleum Corp. – slide 26
    Hedging Summary Period Natural Gas Volumes (Mcfpd) Natural Gas Price 4Q17 6,000 3.20 12,000 3.00 3.60 Collar 1Q18 20,000 3.00 2Q18 25,275 3.03 3Q18 38,000 3.02 4Q18 39,000 3.02 1Q19 34,000 3.03 2Q19 7,500 3.03 3Q19 7,500 3.03…
  27. December 2017 Investor Presentation – Goodrich Petroleum Corp. – slide 27
    FYCR 50.0% 45.0% 40.0% 35.0% 30.0% 25.0% 20.0% 15.0% 10.0% 5.0% 0.0% GDP Source: Company and RS Energy Group (9/17) December 2017 Peer Group Includes: APA,AR,AREX,BBG,BCEI,CHK,CLR,CNX,COG,CPE,CRC,CRK,CRZO,…

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