Skip to main content IPAA Oil and Gas Investment Symposium – Gastar Exploration Inc Investor Presentation | Shale Experts
Loading...
Pm

IPAA Oil and Gas Investment Symposium – Gastar Exploration Inc

Gastar Exploration Inc · Apr 10, 2018 · 38 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. IPAA Oil and Gas Investment Symposium – Gastar Exploration Inc – slide 1
    GASTAR Click to edit Master subtitle style EXPLORATION INC April 9 & April 10
  2. IPAA Oil and Gas Investment Symposium – Gastar Exploration Inc – slide 2
    Corporate Overview
  3. IPAA Oil and Gas Investment Symposium – Gastar Exploration Inc – slide 3
    Corporate Overview GST GST-PA GST-PB STACK Sooner-Trend-Anadarko-Canadian-Kingfisher 602MM Enterprise Value (1) 141MM Market Capitalization Field Office: (1) Oklahoma City Garfield 67,000 Core STACK Surface Acres (2)…
  4. IPAA Oil and Gas Investment Symposium – Gastar Exploration Inc – slide 4
    WEHLU Sale Transaction Details Pro-Forma Capitalization Announced January 25, 2018 the sale of MMs As of December 31, 2017 interest in the West Edmund Hunton Lime Capitalization 12/31/2017 Adjustment Pro Forma Unit (WEHLU) for 107.5…
  5. IPAA Oil and Gas Investment Symposium – Gastar Exploration Inc – slide 5
    Corporate Highlights 67,000 core STACK Acres(1) in Kingfisher and Garfield Counties, Oklahoma Quality Asset Highly contiguous position is 84%(2) operated and 66% held by production Robust Drilling 3,381 gross and 1,510 net drilling…
  6. IPAA Oil and Gas Investment Symposium – Gastar Exploration Inc – slide 6
    2018 Capital Budget Operational control of over 86% of budget 2018 Budget Detail 2018 Budget Distribution Capital Area (MM) % of Total Capitalized Interest + STACK Operated Drilling 69.5 60% STACK Operated G&G STACK Non-Operated…
  7. IPAA Oil and Gas Investment Symposium – Gastar Exploration Inc – slide 7
    STACK Type Log Gamma Resistivity Porosity Seven prospective formations across Cleveland acreage position 200 Oswego Multiple formations may be stacked depending on specific area 400 Multiple benches within prospective 600…
  8. IPAA Oil and Gas Investment Symposium – Gastar Exploration Inc – slide 8
    Regional Cross Section Northeastern up-dip extension of the Target formations are very continuous STACK play Enhanced porosity from fractures and Over 1,000 of combined prospective multiple unconformities throughout the formations…
  9. IPAA Oil and Gas Investment Symposium – Gastar Exploration Inc – slide 9
    Summary Target Economics Based on third party proved reserve type curve projections(1) Meramec Economic Overview Meramec IRR Sensitivities(2) 100% Meramec 2-Stream EUR(2) 453 MBoe 80% % Oil 58% 3-Stream EUR(2) 502 Mboe 60% %…
  10. IPAA Oil and Gas Investment Symposium – Gastar Exploration Inc – slide 10
    Regional STACK Overview
  11. IPAA Oil and Gas Investment Symposium – Gastar Exploration Inc – slide 11
    STACK Overview Mid-Continent Asset Overview Mid-Continent Asset Map 67,000 Core STACK Surface Acres (1) Undeveloped Net Drilling 1,510 Locations(1) Undeveloped STACK Drilling Potential(1) Operated Wells Non-Operated Total…
  12. IPAA Oil and Gas Investment Symposium – Gastar Exploration Inc – slide 12
    Mid-Continent STACK Operator Map One of the most active horizontal plays in North America Note: Rig data obtained from Drillinginfo as of 3/26/18. 14 2018 Gastar Exploration Inc.
  13. IPAA Oil and Gas Investment Symposium – Gastar Exploration Inc – slide 13
    STACK Regional Completed Wells: 2012-2017 Formation Completed Through 2017 Oswego 107 Meramec 621 Osage 357 Woodford 221 Hunton 67 Total 1,375 2012 2013 2012 2015 2012 2017 93 Cumulative +367 460 Cumulative +915…
  14. IPAA Oil and Gas Investment Symposium – Gastar Exploration Inc – slide 14
    STACK: Significant Multi-Zone Development Description Operators Up to 30 wells per section 16 2018 Gastar Exploration Inc.
  15. IPAA Oil and Gas Investment Symposium – Gastar Exploration Inc – slide 15
    Days to TD 0 5 10 15 20 25 30 35 Ma Stucki 30-1H Great Divide 12-1H Bradbury 28-1H Pickle 33-1H Johnny 32-1H 2018 Gastar Exploration Inc. Hane 14-1H Pedlik 10-1H Stitt 32-1H 19.6 Average Gungoll…
  16. IPAA Oil and Gas Investment Symposium – Gastar Exploration Inc – slide 16
    Completion Design Improvements Meramec Stage Spacing Analysis Average Current Plan Meramec(1) Lateral Length (ft) 4,771 4,700 Average 90 Day Cum. Oil (Mbo) 35 32 15 29 29 Effective Lateral Length (ft) 4,517 4,700 12 28 12…
  17. IPAA Oil and Gas Investment Symposium – Gastar Exploration Inc – slide 17
    STACK: Meramec
  18. IPAA Oil and Gas Investment Symposium – Gastar Exploration Inc – slide 18
    Meramec Overview 26,000 Net Prospective Acres(1) Gross Isopach and Activity Map 88% Operated (2) and 78% HBP Activity 24 Operated Operated Wells Drilled 24 18 Non-Op Participated 18 632 wells completed in the…
  19. IPAA Oil and Gas Investment Symposium – Gastar Exploration Inc – slide 19
    Meramec Activity Map 1 27 26 25 24 23 22 Ma Stucki 30-1H Holiday Road 2-1H Weber 1806 15-1MH Ohm 28-1H Katy 21-1H Ingle 29-1H Mott 20-2H Max 30: 227 Boe/d (75% Oil) Max 30: 503 Boe/d (76% Oil) Max 30: 597 Boe/d (70% Oil) Max 30: 469…
  20. IPAA Oil and Gas Investment Symposium – Gastar Exploration Inc – slide 20
    Operated Meramec Results Cumulative Oil Production(1) Map of Wells 100,000 20 Cum. Oil Production (bbls) Gen 3.0 w/ 30+ Stage Spacing 80,000 16 Well Count 60,000 12 40,000 8 20,000 4 0 0 0 15 30 45 60 75 90 105 120…
  21. IPAA Oil and Gas Investment Symposium – Gastar Exploration Inc – slide 21
    Meramec Economics Type Curve Assumptions/Economics Meramec Type Curve Production Profile Peak Rate (bbl/d) 50 550 (1 month) Decline Rate 80.5% Daily Rate (Bbl/dMcf/d) Terminal Decline 6.0% 1,000 B-Factor 1.1 Peak Rate (Mcf/d)…
  22. IPAA Oil and Gas Investment Symposium – Gastar Exploration Inc – slide 22
    STACK: Osage
  23. IPAA Oil and Gas Investment Symposium – Gastar Exploration Inc – slide 23
    Osage Overview 62,300 Net Prospective Acres(1) Gross Isopach and Activity Map 89% Operated (2) and 63% HBP Activity 21 Operated Operated Wells Drilled 19 2 20 Non-Op Participated 17 370 wells completed in the…
  24. IPAA Oil and Gas Investment Symposium – Gastar Exploration Inc – slide 24
    Osage Activity Map 1 28 27 26 25 24 23 Gary Hajek 18-1LOH Maral 2007 33-1H Flying Monkey 2109 1-23MH Lankard 1706 6-34MH Ash 1705 3-19MH Schilde 1706 3-15MH Borelli 1705 4-8MH Producing Max 30: 507 Boe/d (79% Oil) Producing Max 30:…
  25. IPAA Oil and Gas Investment Symposium – Gastar Exploration Inc – slide 25
    Operated Osage Results Cumulative Oil Production(1) Map of Wells 50,000 10 Gen 3.0 w/ 35 Stage Spacing Cum. Oil Production (bbls) 40,000 8 Well Count 30,000 6 20,000 4 10,000 2 0 0 0 20 40 60 80 100 120 140 Days…
  26. IPAA Oil and Gas Investment Symposium – Gastar Exploration Inc – slide 26
    Osage Economics Type Curve Assumptions/Economics Osage Type Curve Production Profile Daily Rate (Boe/dMcf/d) Peak Rate (bbl/d) 50 450 (2 months) Decline Rate 78.0% Terminal Decline 6.0% 1,000 B-Factor 1.2 Peak Rate (Mcf/d) 150 900…
  27. IPAA Oil and Gas Investment Symposium – Gastar Exploration Inc – slide 27
    Additional Upside
  28. IPAA Oil and Gas Investment Symposium – Gastar Exploration Inc – slide 28
    Oswego Overview 11,200 Net Prospective Acres(1) Net Isopach and Activity Map 61% Operated (2) and 55% HBP Activity 1 Operated Hill 2-18-6 1H Farrar 11-18-6 1H Max 30: 1,223 Boe/d (86% Oil) Max 30: 1,059 Boe/d (87% Oil)…
  29. IPAA Oil and Gas Investment Symposium – Gastar Exploration Inc – slide 29
    Woodford Overview 18,000 Net Prospective Acres(1) Gross Isopach and Activity Map 83% Operated (2) and 42% HBP Activity 3 Non-Op Participated 3 222 wells completed in the STACK area Activity STACK (3) 19 currently…
  30. IPAA Oil and Gas Investment Symposium – Gastar Exploration Inc – slide 30
    Hunton Overview 39,800 Net Prospective Acres(1) Gross Isopach and Activity Map 86% Operated (2) and 72% HBP Activity The River 01-22H Max 30: 1,182 Boe/d (43% oil) Thrasher 01-01H 41 3,897 Lat. Length Max 30: 1,274 Boe/d (75%…
  31. IPAA Oil and Gas Investment Symposium – Gastar Exploration Inc – slide 31
    Manning Overview 37,600 Net Prospective Acres(1) Manning Gross Isopach Activity Historical vertical well production from the Manning shows to be a prolific formation Nearby operator commenced horizontal drilling in 2017 400…
  32. IPAA Oil and Gas Investment Symposium – Gastar Exploration Inc – slide 32
    Oswego Fracture Overview The Oswego formation blankets 100% Gross Isopach Map of Gastars acreage Gross Oswego thickness ranges from 150 to 275 feet thick across the position Well data indicates the Oswego is fractured and is…
  33. IPAA Oil and Gas Investment Symposium – Gastar Exploration Inc – slide 33
    Appendix
  34. IPAA Oil and Gas Investment Symposium – Gastar Exploration Inc – slide 34
    Type Curve Assumptions Formation Meramec Osage Production Profile Peak Rate (Bbl/d) 50 550 (1 month) 50 450 (2 months) Decline Rate 80.5% 78.0% Terminal Decline 6.0% 6.0% B-Factor 1.1 1.2 Peak Rate (Mcf/d) 200 - 1,100 (2 months) 150 900…
  35. IPAA Oil and Gas Investment Symposium – Gastar Exploration Inc – slide 35
    Earthquake Seismicity Map As of 4-1-18, Gastar has implemented a 24/7 The industry has been recompleting into surveillance of seismicity events during company the Wilcox to mitigate seismic concerns operated completions in Kingfisher…
  36. IPAA Oil and Gas Investment Symposium – Gastar Exploration Inc – slide 36
    PDP Hedging Program 100%+ of PDP oil hedged through 2019, 94% of PDP gas hedged for 2018 Oil and NGLs Hedging Strategy Crude Oil (1) Q2 2018 Q3 2018 Q4 2018 FY 2018 Q1 2019 Q2 2019 Q3 2019 Q4 2019 FY 2019 Upside Hedges (Bbl/d) 3,015…
  37. IPAA Oil and Gas Investment Symposium – Gastar Exploration Inc – slide 37
    Realized Prices: Mid-Continent Realized Oil Prices Realized Gas Prices(1) 80.00 110% 4.00 99% 100% 95% 93% 96% 82% 80% 64.00 88% 3.20 80% 48.00 66% 2.40 60% 48.91 2.57 2.37 32.00 46.18 44% 1.60 40% 40.12 2.04 16.00 22% 0.80 20%…
  38. IPAA Oil and Gas Investment Symposium – Gastar Exploration Inc – slide 38
    Production Costs (/Boe): Mid-Continent Lease Operating Expense Production Tax 12.00 1.50 9.75 1.25 9.60 8.85 8.96 1.20 1.31 1.04 1.98 7.20 0.90 0.73 0.66 4.80 0.60 7.93 8.44 6.87 2.40 0.30 0.00 0.00 (1) 2015 2016 2017…

From the store

Browse maps, data & reports in the Shale Experts store