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February 2018 Investor Presentation – Gulfport Energy Corp.

Gulfport Energy Corp. · Feb 19, 2018 · 46 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. February 2018 Investor Presentation – Gulfport Energy Corp. – slide 1
    INVESTOR PRESENTATION February 2018
  2. February 2018 Investor Presentation – Gulfport Energy Corp. – slide 2
    Gulfport Company Overview Primary Areas of Operation(4) Key Statistics Market Capitalization(1) 1.6 Billion Enterprise Value(2) 3.6 Billion Pro Forma Liquidity(3) 859 Million Utica Shale 2017 Average Daily Production 1,089.2…
  3. February 2018 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. February 2018 Investor Presentation – Gulfport Energy Corp. – slide 4
    2018 Activity Economic Focus 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 inventory…
  5. February 2018 Investor Presentation – Gulfport Energy Corp. – slide 5
    2018 Strategy and Operational Plans Key Highlights During 2018, Gulfport is dedicated to strict capital discipline and is in the position to be able to generate free cash flow for its shareholders while also providing strong…
  6. February 2018 Investor Presentation – Gulfport Energy Corp. – slide 6
    Gulfport 2018 Guidance 2018E Capital Budget 2018E Forecasted Activity Year Ending Year Ending 12/31/2018 12/31/2018 Forecasted Production Net Wells Drilled Average Daily Gas Equivalent MMcfepd 1,250 1,300 Utica Operated 26 29 % Gas…
  7. February 2018 Investor Presentation – Gulfport Energy Corp. – slide 7
    Strong Liquidity, Capitalization and Hedge Position Gas Hedges(1) Key Highlights In 2018, Gulfport is committed to a disciplined capital program 900 targeting cash flow neutrality for the calendar year 800 4.00 At strip…
  8. February 2018 Investor Presentation – Gulfport Energy Corp. – slide 8
    SCOOP Recent Gulfport Well Results Pauline 8-27X22H North Cheyenne 3-10X3H Norm 24-hr IP: 2,409 Mcfe/d/1,000 Norm 24-hr IP: 1,829 Mcfe/d/1,000 Overview Pauline 6-27X22H North Cheyenne 4-10X3H Gulfport has provided initial production…
  9. February 2018 Investor Presentation – Gulfport Energy Corp. – slide 9
    SCOOP Upside Potential in Emerging Zones Turner 1H-07-06 Cash 1-26H Springer Gas Travis Peak Norm IP30: 821 Mcfe/d/1,000 Continental Norm IP24-Hr: 2,125 Mcfe/d/1,000 Overview Condensate Springer Oil 45% Oil / 55% Gas 84% Oil / 16%…
  10. February 2018 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. February 2018 Investor Presentation – Gulfport Energy Corp. – slide 11
    Utica Asset Overview WWW.GULFPORTENERGY.COM 12
  12. February 2018 Investor Presentation – Gulfport Energy Corp. – slide 12
    Utica Shale Overview Asset Overview Net proved reserves of 3.9 Tcfe(1) 213,000 net acres(2) Oil - 1% Gulfport Energy Condensate - 10% Ridgetop Pad Wet Gas - 13% Dry Gas - 76% 2017 Activities Update(3) Average net production of…
  13. February 2018 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. February 2018 Investor Presentation – Gulfport Energy Corp. – slide 14
    Utica Shale Overview of Firm Portfolio Key Highlights Firm Commitments (MMBtu per day) Gulfport was a first-mover in securing early access to premium Midwest markets and transport at low costs out of the basin 1,200,000 Expanded…
  15. February 2018 Investor Presentation – Gulfport Energy Corp. – slide 15
    Utica Shale Overview of Basin Takeaway Key Highlights Takeaway Projects(1) The Marcellus and Utica have seen a significant amount of YE2015 YE2016 YE2017 YE2018 YE2019 YE2020 NE Marcellus to Northeast takeaway come online over the…
  16. February 2018 Investor Presentation – Gulfport Energy Corp. – slide 16
    SCOOP Asset Overview WWW.GULFPORTENERGY.COM 17
  17. February 2018 Investor Presentation – Gulfport Energy Corp. – slide 17
    SCOOP Overview Springer Gas Asset Overview Condensate Springer Oil Net proved reserves of 1.5 Tcfe(1) Gulfport Energy 92,900(2) net reservoir acres EJ Craddock Unit Gulfport Energy Includes 50,400 net Woodford acres and 42,500 net…
  18. February 2018 Investor Presentation – Gulfport Energy Corp. – slide 18
    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…
  19. February 2018 Investor Presentation – Gulfport Energy Corp. – slide 19
    SCOOP Recent Well Results on Gulfport's Acreage 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…
  20. February 2018 Investor Presentation – Gulfport Energy Corp. – slide 20
    SCOOP List of High Quality Results Continues to Expand 4,000 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 Well results…
  21. February 2018 Investor Presentation – Gulfport Energy Corp. – slide 21
    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)…
  22. February 2018 Investor Presentation – Gulfport Energy Corp. – slide 22
    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…
  23. February 2018 Investor Presentation – Gulfport Energy Corp. – slide 23
    SCOOP Marketing Overview Key Highlights Canadian Building a diversified gas takeaway portfolio Exports Gulfport holds firm transportation into connecting pipes with multiple deliveries including Bennington, Perryville and points…
  24. February 2018 Investor Presentation – Gulfport Energy Corp. – slide 24
    Utica Appendix WWW.GULFPORTENERGY.COM 25
  25. February 2018 Investor Presentation – Gulfport Energy Corp. – slide 25
    Utica Shale Type Curve Assumptions Condensate Condensate Dry Gas Dry Gas Dry Gas Wet Gas West East West Central East Identified Gross Locations(4) 129 73 114 181 441 259 Identified Net Locations 97 54 86 135 331 194 Type Curve…
  26. February 2018 Investor Presentation – Gulfport Energy Corp. – slide 26
    Utica Shale Condensate Window Type Curves Condensate Type Curve Assumptions(1) West East Single Well Economics(1) Lateral Length 8,000 8,000 80% Well Cost (MM) 7.7 7.7 Well Cost ( per foot) 962 964 60% IRRs % Total EUR (Bcfe…
  27. February 2018 Investor Presentation – Gulfport Energy Corp. – slide 27
    Utica Shale Wet Gas Window Type Curves Wet Type Curve Assumptions(1) Gas Single Well Economics(1) Lateral Length 8,000 80% 73% Well Cost (MM) 8.3 Well Cost ( per foot) 1,035 60% 53% IRRs % Total EUR (Bcfe / 1,000) 2.0 35%…
  28. February 2018 Investor Presentation – Gulfport Energy Corp. – slide 28
    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 80% 74% Well Cost (MM) 8.5 8.7 8.9 71% Well Cost ( per foot) 1,060 1,085 1,110…
  29. February 2018 Investor Presentation – Gulfport Energy Corp. – slide 29
    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…
  30. February 2018 Investor Presentation – Gulfport Energy Corp. – slide 30
    Utica Shale Midstream Gathering and Processing Overview Key Highlights Acreage dedication arrangements to MPLX Energy, Rice Midstream Holdings and Strike Force Midstream for gathering, processing and fractionation services…
  31. February 2018 Investor Presentation – Gulfport Energy Corp. – slide 31
    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…
  32. February 2018 Investor Presentation – Gulfport Energy Corp. – slide 32
    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 13,414 8,814 27,885 33,369 83,286 44,695 Lateral…
  33. February 2018 Investor Presentation – Gulfport Energy Corp. – slide 33
    SCOOP Appendix WWW.GULFPORTENERGY.COM 34
  34. February 2018 Investor Presentation – Gulfport Energy Corp. – slide 34
    SCOOP Type Curve Assumptions Woodford Dry Gas Woodford Wet Gas Woodford Condensate Identified Gross Locations 444 642 350 Identified Net Locations 84 230 30 Type Curve Assumptions Lateral Length (ft.) 7,500 7,500 7,500 Wells/section…
  35. February 2018 Investor Presentation – Gulfport Energy Corp. – slide 35
    SCOOP Woodford Dry Gas Window Type Curves Woodford Type Curve Assumptions(1) Dry Gas Single Well Economics(1) Lateral Length 7,500 100% Well Cost (MM) 12.3 Well Cost ( per foot) 1,633 80% 60% IRRs % Total EUR (Bcfe /…
  36. February 2018 Investor Presentation – Gulfport Energy Corp. – slide 36
    SCOOP Woodford Wet Gas Window Type Curves Woodford Type Curve Assumptions(1) Wet Gas Single Well Economics(1) Lateral Length 7,500 100% Well Cost (MM) 10.5 79% Well Cost ( per foot) 1,395 80% 64% 60% 51% Total EUR (Bcfe / 1,000)…
  37. February 2018 Investor Presentation – Gulfport Energy Corp. – slide 37
    SCOOP Woodford Condensate Window Type Curves Woodford Type Curve Assumptions(1) Condensate Single Well Economics(1) Lateral Length 7,500 100% 91% Well Cost (MM) 9.7 80% 73% Well Cost ( per foot) 1,295 57% 60% IRRs %…
  38. February 2018 Investor Presentation – Gulfport Energy Corp. – slide 38
    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…
  39. February 2018 Investor Presentation – Gulfport Energy Corp. – slide 39
    Appendix WWW.GULFPORTENERGY.COM 40
  40. February 2018 Investor Presentation – Gulfport Energy Corp. – slide 40
    Southern Louisiana Asset Overview(1) Net proved reserves of 2.4 MMBoe 10,816 net acres Gulfport operated 2017 Activities Update(2) Average net production of 2,318 Boepd during 4Q2017 1% of Gulfports total net production…
  41. February 2018 Investor Presentation – Gulfport Energy Corp. – slide 41
    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…
  42. February 2018 Investor Presentation – Gulfport Energy Corp. – slide 42
    Strike Force Midstream Joint Venture Overview In 2015, GPOR and RICE (now EQT following its acquisition of RICE in 2017) formed a midstream JV, Strike Force Midstream LLC, to provide gas gathering and compression to GPORs Eastern…
  43. February 2018 Investor Presentation – Gulfport Energy Corp. – slide 43
    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 pipeline…
  44. February 2018 Investor Presentation – Gulfport Energy Corp. – slide 44
    Hedged Production Hedge Book(1) 1Q18 2Q18 3Q18 4Q18 2018 2019 Natural Gas Contract Summary: Natural Gas Fixed Price Swaps (NYMEX) Volume (BBtupd) 850 880 950 950 908 512 Weighted Average Price (/MMBtu) 3.18 3.02 3.02 3.02 3.06 2.86…
  45. February 2018 Investor Presentation – Gulfport Energy Corp. – slide 45
    Financial and Operational Summary 2016 2017 4Q2017 2017 1Q2016 2Q2016 3Q2016 4Q2016 FY 2016 1Q2017 2Q2017 3Q2017 4Q2017 FY 2017 FY 2018E Q-o-Q Y-o-Y Y-o-Y Production Gas Bcf 53.3 52.8 58.2 63.4 227.6 66.3 82.9 97.8 103.0 350.1 5% 63%…
  46. February 2018 Investor Presentation – Gulfport Energy Corp. – slide 46
    2017 Proved Reserve Summary Net Reserves as of December 31, 2017(1) Gas Oil NGL Total PV-10 (MM) (Bcf) (MMBbls) (MMBbls) (Bcfe) SEC Proved Developed Producing 1,495.5 8.5 33.5 1,747.4 1,699 Proved Developed Non-Producing 121.4 1.7…

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