Oil and Gas Investment Symposium/IPAA Operational Update April 17, 2012
GMXRs Four Resource Plays Bakken Petroleum System Producers 8 Net Acres 35,375 North Dakota Units 1,280 Acre 150 Total Locations 592 Montana Operated Locations Est. 197 Working Interest *Operated Est. 75% Non-Operated Est. 4%…
Q1 2012 Development Rapidly De-Risks Acreage Williston Basin Drilling McKenzie County Average, 3 wells: 1,973 IP BOE/Day Lange 11-30-1H IP: 2,549 BOE/Day Neil 24-19MBH IP: 1,953 BOE/Day Taboo 1-25-36H IP:1,436 BOE/Day…
Cash Flow Protection & More Revenue Growth Oil and Gas Hedges Added for 2012-2014(1) 65% of natural gas protected with swaps in 2012 (2.60) and 2013 (3.50) 18% of Q2-Q4 2012 oil production protected with swaps (106.40) & put spread…
277% Oil Production Growth Year Over Year Production for Q1 and Guidance for Q2 and YE 2012 2012 Annual Guidance of 2,374,000 BOE 354,500 BBLs of oil, 277% higher than 2011 production 562,500 BBLs of NGLs, 44% higher than 2011…
The Oil Transition is Quick, the Prize is Big Monthly BOE Total Monthly Production and Revenue Revenue 600,000 30,000,000 27,500,000 13.48 Restart Liquids Rich 500,000 and Natural Gas 25,000,000 12.59 Program (Revenue not…
Operational Update 7
Major Operators Have De-Risked GMXR Acreage Continental and Whiting have de-risked GMXR acreage Transactions have materially increased the value of GMXR acreage December 2010: Occidental (OXY) purchased Anschutz o 180,000 net…
Setting the Stage for Success: Little Knife Combo Area Billings Nose was focus of original horizontal Bakken drilling programs 1992 in the Williston Basin Single stage completions with up to 4000 laterals Operators targeted organic…
Presence of Multiple Targets on GMXR Position McKenzie Billings Stark A B C D Charlotte 1-22H Lange 11-30-1H Lillibridge Amo 1 Kubas 11-13TFH Continental Resources Inc GMX Resources Amoco Prod Co Whiting Pojorlie 1,100 BOE/D IP…
Early Disconnect with Performance Models Correct Over Time Long term production from Black Oil Model on * Elm Coulee Field predicts higher IP than seen * in aggregate historical data Restrictive Flow Actual cumulative production…
Northern DJ Basin Path to Success Northern DJ Targets and Keys to Success SSN: Spirit of America US 34 1-29 11,000 vertical test currently drilling to test multiple Primary targets: Niobrara and Codell conventional targets in the…
1.75 TCFE Natural Gas Option Held by Production in ETX Haynesville Bossier (1.26 TCF) Cotton Valley (0.4 TCF & 15 MMBO) Represents one of the most intensely studied areas Expect 7.5 Bcfe EUR & 18% NGL & Oil of the Haynesville…
Appendix 14
Multi-Year Inventory in Four Resource Plays Potential Reserves(1): 121 MMBOE + 1.9 TCF Reserve Bakken Proved Reserves 0.8 MMBOE 671 Net Hz Undrilled Locations H/B Proved Reserves (4) 198.4 BCF CVS Proved Gas Reserves 82% Gas 67.2…
Expansion of Rough Rider into Southeast McKenzie Satter 44-34SWH Satter 44-34NWH Satter 44-34SWH Greenstein 30-31 1H Staal 150-99-26-35-1H IP BOE 2,258 IP BOE 3,604 IP BOE 2,763 IP BOE 3,232 IP BOE 3,217 Ransom 44-31H IP BOE 2,464…
Elkhorn Extension in Billings County Champlain 1-36H WOC Clemens 34-9TFH IP BOE 2,108 Evoniuk 21-2-1H Opr: GMXR Peak Rate - 637 Frank 31-4-1H Opr: GMXR IP BOE - 240 Wock 21-2-1H Opr: GMXR IP BOE - 450 CLR De-Risk…
Southeast Lewis and Clark Lydia 21-14TFH Frank 31-4-1H IP BOE 1,960 Opr: GMXR Debrecen 1-3H IP BOE 240 Wock 21-2-1H IP BOE 1,667 Opr: GMXR CLR De-Risk Outline IP BOE - 450 Smith 32-12TFH IP BOE 2,939 Marsh 21-16TFH Opr:…
Cash Flow Protection Secured Oil Hedges 2012: April December: 106.40 Swap for 38,565 bbls July December: 100/90 Put Spread for 19,421 bbls 2013: January December: 106.40 Swap for 42,581 bbls January December: 100 Put for 26,654…
Bakken and Niobrara Development GMXR Bakken Average 1,420 IP BOE/Day McKenzie County Average, 3 wells: 1,973 IP BOE/Day Initial Completion GMXR Production Well Name Date Operator WI % County Target BOE/Day Commentary Wock 21-2-1H…
All Future Drilling in De-Risked Area McKenzie De-risked (1) 240 total well locations; 40 units CLR De-Risk Outline Billings De-risked (1) 168 total well locations; 32 units WLL De-Risk Outline Total Potential Units…
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