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1Q 2018 Earnings Call – Goodrich Petroleum Corp.

Goodrich Petroleum Corp. · May 15, 2018 · 26 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. 1Q 2018 Earnings Call – Goodrich Petroleum Corp. – slide 1
    Earnings Call Slides 1Q18 May 2018
  2. 1Q 2018 Earnings Call – Goodrich Petroleum Corp. – slide 2
    Value and Growth Investment Opportunity with an Enhanced Balance Sheet, Very High Leverage to the Haynesville and the Ability to Rapidly Grow Volumes, Reserves and EBITDA ASSETS: Haynesville Shale, Eagle Ford Shale and TMS 10-15…
  3. 1Q 2018 Earnings Call – Goodrich Petroleum Corp. – slide 3
    Capital Expenditures: Capital Expenditures of 21.0 Million in 1Q18, with Guidance of 30 Million for 2Q18 2018 Preliminary Capex Budget Reaffirmed at 85 - 95 Million. Plans to Now Drill an Estimated 17 gross (8 net) wells, with an…
  4. 1Q 2018 Earnings Call – Goodrich Petroleum Corp. – slide 4
    SEC PROVED RESERVES (Bcfe) 500 428 ETX 400 300 303 TMS 200 NLA - Haynesville 100 55 Total 0 2015 2016 2017 May 2018 5
  5. 1Q 2018 Earnings Call – Goodrich Petroleum Corp. – slide 5
    USD in thousands) Cash 9,700 Debt Senior Credit Facility 0 2L Convertible Notes (PIK) 48,600 Total Debt 48,600 38,900 Total Net Debt May 2018 6
  6. 1Q 2018 Earnings Call – Goodrich Petroleum Corp. – slide 6
    80,000 70,000 60,000 50,000 TMS 40,000 30,000 20,000 Haynesville 10,000 - 2016 2017 1Q18 2018* Total * Mid-Point of Guidance May 2018 7
  7. 1Q 2018 Earnings Call – Goodrich Petroleum Corp. – slide 7
    EV/EBITDA 25.00 20.00 15.00 10.00 5.00 0.00 GDP Peer Group Includes: May 2018 APA,APC,AR,AREX,AXAS,BBG,BCEI,CHK,CLR,COG,CPE,CRC,CRK,CRZO,CXO,DVN,ECA,ECR,EOG,EPE,…
  8. 1Q 2018 Earnings Call – Goodrich Petroleum Corp. – slide 8
    NET DEBT/EBITDA 20.00 15.00 10.00 5.00 0.00 GDP -5.00 Peer Group Includes: APA,APC,AR,AREX,AXAS,BBG,BCEI,CHK,CLR,COG,CPE,CRC,CRK,CRZO,CXO,DVN,ECA,ECR,EOG,…
  9. 1Q 2018 Earnings Call – Goodrich Petroleum Corp. – slide 9
    Growth in EBITDA 800,000 700,000 600,000 500,000 400,000 300,000 200,000 100,000 - GDP Peer Group Includes: APA,APC,AR,AREX,AXAS,BBG,BCEI,CHK,CLR,COG,CPE,CRC,CRK,CRZO,CXO,DVN,ECA,ECR,EOG May 2018…
  10. 1Q 2018 Earnings Call – Goodrich Petroleum Corp. – slide 10
    Capital Efficiency 35,000 30,000 25,000 20,000 15,000 10,000 5,000 - GDP Source: Company and RS Energy Group (9/17) May 2018 Peer Group Includes: APA,AR,AREX,BBG,BCEI,CHK,CLR,CNX,COG,CPE,CRC,CRK,CRZO,…
  11. 1Q 2018 Earnings Call – Goodrich Petroleum Corp. – slide 11
    HAYNESVILLE SHALE - CORE Gross (Net) Acres (YE17): 38,500 (18,500) Proved Reserves (YE17 - SEC) 411.3 Bcfe Objective: Haynesville Shale HAYNESVILLE / BOSSIER SHALE ANGELINA RIVER TREND (ART) Gross (Net) Acres (Current): 8,500…
  12. 1Q 2018 Earnings Call – Goodrich Petroleum Corp. – slide 12
    Greenwood- North Louisiana (Haynesville) Waskom / Total Gross/Net Acres: Metcalf/Longwood 38,500/18,500 3,700 Net Ac Average WI/NRI: 40%/29% Acreage HBP: 100% 91 total producing wells (17 Operated) Approximately 240 gross (95…
  13. 1Q 2018 Earnings Call – Goodrich Petroleum Corp. – slide 13
    Haynesville Recent Industry Activity CRK CRK CHK CHK CHK CHK WILL 22&27&34- CRK CHK 3 Permitted 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 HUNTER 28-21HC 1&2 GEPH Unit 6 Drilled /…
  14. 1Q 2018 Earnings Call – Goodrich Petroleum Corp. – slide 14
    May 2018 15
  15. 1Q 2018 Earnings Call – Goodrich Petroleum Corp. – slide 15
    May 2018 16
  16. 1Q 2018 Earnings Call – Goodrich Petroleum Corp. – slide 16
    May 2018 17
  17. 1Q 2018 Earnings Call – Goodrich Petroleum Corp. – slide 17
    May 2018 18
  18. 1Q 2018 Earnings Call – Goodrich Petroleum Corp. – slide 18
    May 2018 19
  19. 1Q 2018 Earnings Call – Goodrich Petroleum Corp. – slide 19
    20 May 2018
  20. 1Q 2018 Earnings Call – Goodrich Petroleum Corp. – slide 20
    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 1,000 Pricing Average - NYMEX less 0.60 / MMBtu…
  21. 1Q 2018 Earnings Call – Goodrich Petroleum Corp. – slide 21
    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 1,000 Pricing Average - NYMEX less 0.60 / MMBtu…
  22. 1Q 2018 Earnings Call – Goodrich Petroleum Corp. – slide 22
    10,000' Lateral Type Curve Assumptions Louisiana 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 1,000 Pricing Average - NYMEX less 0.60 / MMBtu…
  23. 1Q 2018 Earnings Call – Goodrich Petroleum Corp. – slide 23
    Strong EBITDA Growth in 2018 Driven By Substantial Increase in Production On A Much Lower Unit Cost Structure One Operated Rig Running Currently, With 2nd Rig Likely Due to Swap Which Increases our Operated Activity Level Focus…
  24. 1Q 2018 Earnings Call – Goodrich Petroleum Corp. – slide 24
    May 2018 A-1
  25. 1Q 2018 Earnings Call – Goodrich Petroleum Corp. – slide 25
    Period Natural Gas Volumes (Mcfpd) Natural Gas Price 1Q18 20,000 3.00 2Q18 25,275 3.03 3Q18 38,000 3.02 4Q18 39,000 3.02 1Q19 50,000 2.96 2Q19 40,000 2.85 3Q19 40,000 2.85 4Q19 40,000 2.85 1Q20 40,000 2.81 Period Oil Volumes…
  26. 1Q 2018 Earnings Call – Goodrich Petroleum Corp. – slide 26
    Activity Wells Production 2018E Gross (Net) Wells: 17 (8.0) Annual Net Production: 23.73 27.38 Bcfe Average Net Lateral Length: 8,000 Avg Daily Production: 65,000-75,000 Mcfe/d Percentage Operated (Net): 84% Natural Gas: 95%…

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