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November 2018 Investor Presentation – Goodrich Petroleum Corp.

Goodrich Petroleum Corp. · Nov 9, 2018 · 29 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. November 2018 Investor Presentation – Goodrich Petroleum Corp. – slide 1
    NYSE American: GDP Management Presentation November 2018
  2. November 2018 Investor Presentation – 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…
  3. November 2018 Investor Presentation – Goodrich Petroleum Corp. – slide 3
    HAYNESVILLE SHALE - CORE Gross (Net) Acres (3Q18): 38,100 (19,100) Proved Reserves (YE17 - SEC) 411.3 Bcfe Objective: Haynesville Shale HAYNESVILLE / BOSSIER SHALE ANGELINA RIVER TREND (ART) Gross (Net) Acres (3Q18): 8,300…
  4. November 2018 Investor Presentation – 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 November 2018 5
  5. November 2018 Investor Presentation – Goodrich Petroleum Corp. – slide 5
    USD in thousands) Cash 1,729 Debt Senior Credit Facility 6,000 2L Convertible Notes (PIK) 50,224 Total Debt 56,224 54,495 Total Net Debt November 2018 6
  6. November 2018 Investor Presentation – Goodrich Petroleum Corp. – slide 6
    160,000 140,000 120,000 100,000 TMS 80,000 60,000 40,000 Haynesville 20,000 - 2017 1Q18 2Q18 2018* 2018 2019* Total Exit Est. Rate * Mid-Point of Guidance November 2018 7
  7. November 2018 Investor Presentation – Goodrich Petroleum Corp. – slide 7
    EV/EBITDA 10.00 8.00 6.00 4.00 2.00 0.00 GDP Peer Group Includes: November 2018 APA,APC,AR,AREX,AXAS,BCEI,CHK,CLR,COG,CPE,CRK,CRZO,CXO,DVN,ECA,ECR,EOG EPE,EQT,ESTE,FANG,GPOR,HK,HPR,JONE,LLEX,LONE,LPI,MCF,MPO,MTDR,MUR,NBL,…
  8. November 2018 Investor Presentation – Goodrich Petroleum Corp. – slide 8
    NET DEBT/EBITDA 8.00 6.00 4.00 2.00 0.00 GDP -2.00 Peer Group Includes: APA,APC,AR,AREX,AXAS,BCEI,CHK,CLR,COG,CPE,CRK,CRZO,CXO,DVN,ECA,ECR,EOG EPE,EQT,ESTE,FANG,GPOR,HK,HPR,JONE,LLEX,LONE,LPI,MCF,MPO,MTDR,MUR,NBL,…
  9. November 2018 Investor Presentation – Goodrich Petroleum Corp. – slide 9
    Capital Efficiency 35,000 30,000 25,000 20,000 15,000 10,000 5,000 - GDP Peer Group Includes: APA,APC,AR,AREX,AXAS,BCEI,CHK,CLR,COG,CPE,CRK,CRZO,CXO,DVN,ECA,ECR,EOG November 2018…
  10. November 2018 Investor Presentation – Goodrich Petroleum Corp. – slide 10
    Greenwood- North Louisiana (Haynesville) Waskom / Total Gross/Net Acres: Metcalf/Longwood 38,100/19,100 3,300 Net Ac Average WI/NRI: 50%/36% Acreage HBP: 100% 91 total producing wells (17 Operated) Approximately 200 gross (90…
  11. November 2018 Investor Presentation – Goodrich Petroleum Corp. – slide 11
    Regional Structure Map (Top of the Haynesville Shale) 12 November 2018
  12. November 2018 Investor Presentation – Goodrich Petroleum Corp. – slide 12
    Haynesville Shale Regional Cross - Section (West - East) 13 November 2018
  13. November 2018 Investor Presentation – Goodrich Petroleum Corp. – slide 13
    Haynesville Shale Regional Cross - Section (South - North) November 2018 14
  14. November 2018 Investor Presentation – Goodrich Petroleum Corp. – slide 14
    Core Lab Haynesville Shale Core Data (Average Core Total Porosity) Data from Core Lab Consortium; contours prepared by Goodrich 15 November 2018
  15. November 2018 Investor Presentation – Goodrich Petroleum Corp. – slide 15
    Haynesville Completion Evolution Evolving completions maximize near-wellbore stimulation Original Design Recent Design Tested (2008 - 2014) (2015 - Current) 4,600 Laterals 4,600 10,000 Laterals 10,000 Laterals 1,000 lbs/ft…
  16. November 2018 Investor Presentation – Goodrich Petroleum Corp. – slide 16
    Haynesville Recent Industry Activity (1) CRK (2) CRK 3. CRK 4. CRK 5. CHK (22) CHK Nissen 28-21HC 1 Nissen 28-21HC 2 FLORSHEIM 9-16 HC HUNTER 28-21HC 1&2 GEPH Unit Black 1H 10,000 Lateral 10,000 Lateral 1&2 10,000 Laterals IP:…
  17. November 2018 Investor Presentation – Goodrich Petroleum Corp. – slide 17
    Recent Haynesville 4,600' Wells 100,000 1000 GDP, 4 Well Average (Avg 4,100' LL; 4,200 /ft Frac) Average Well Performance 59 Wells (3,400 /ft Frac) SI - Offset Fracs Company Type Curve: 10,000 EUR: 11.5 Bcf (2.5 Bcf/1,000…
  18. November 2018 Investor Presentation – Goodrich Petroleum Corp. – slide 18
    4,600' Laterals Cum Production (MCF) 6,000,000 GDP, 4 Well Average (4,100' LL; 4,200 /ft Frac) 5,000,000 Company Type Curve: EUR: 11.5 Bcf (2.5 Bcf/1,000 ft) 4,000,000 Company Type Curve: Cum Production (MCF) EUR:…
  19. November 2018 Investor Presentation – Goodrich Petroleum Corp. – slide 19
    Recent Haynesville 7,500' Wells 100,000 1000 GDP, 5 Well Average (Avg 7,600' LL, 4,500 /ft Frac) Average Well Performance SI - Offset Fracs 87 Wells (3,100 /ft Frac) Company Type Curve: EUR: 18.75 Bcf (2.5 Bcf/1,000 ft)…
  20. November 2018 Investor Presentation – Goodrich Petroleum Corp. – slide 20
    7,500' Laterals Cum Production (MCF) 8,000,000 GDP, 5 Well Average (Avg 7,600' LL, 4,500 /ft Frac) 7,000,000 6,000,000 Company Type Curve: EUR: 18.75 Bcf (2.5 Bcf/1,000 ft) Company Type Curve 5,000,000 EUR: 15.0 Bcf (2.0…
  21. November 2018 Investor Presentation – Goodrich Petroleum Corp. – slide 21
    Recent Haynesville 10,000' Wells 100,000 1000 GDP, 6 Well Average (Avg 9,500' LL; 3,700 /ft) Average Well Performance 35 Wells (3,200 /ft Frac) Company Type Curve: EUR: 25 Bcf (2.5 Bcf/1,000 ft) 10,000 100 Gas Production,…
  22. November 2018 Investor Presentation – Goodrich Petroleum Corp. – slide 22
    10,000' Laterals Cum Production (MCF) 12,000,000 Company Type Curve: EUR: 25 Bcf (2.5 Bcf/1,000 ft) 10,000,000 GDP, 6 Well Average (Avg 9,500' LL; 3,700 /ft) 8,000,000 Cum Production (MCF) Company Type Curve 6,000,000…
  23. November 2018 Investor Presentation – Goodrich Petroleum Corp. – slide 23
    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…
  24. November 2018 Investor Presentation – Goodrich Petroleum Corp. – slide 24
    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…
  25. November 2018 Investor Presentation – Goodrich Petroleum Corp. – slide 25
    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…
  26. November 2018 Investor Presentation – Goodrich Petroleum Corp. – slide 26
    Strong EBITDA Growth in 2018 and 2019 Driven By Substantial Increase in Production On A Much Lower Unit Cost Structure Strong Balance Sheet with Liquidity to Fund Growth and Current Net Leverage Less Than 1.5X Focus on Growth in…
  27. November 2018 Investor Presentation – Goodrich Petroleum Corp. – slide 27
    November 2018 A-1
  28. November 2018 Investor Presentation – Goodrich Petroleum Corp. – slide 28
    Period Natural Gas Volumes (Mcfpd) Natural Gas Price 3Q18 38,000 3.02 4Q18 39,000 3.02 1Q19 80,000 2.93 2Q19 70,000 2.86 3Q19 70,000 2.86 4Q19 70,000 2.86 1Q20 40,000 2.81 Period Oil Volumes (Bopd) Oil Price 3Q18 350 51.08…
  29. November 2018 Investor Presentation – Goodrich Petroleum Corp. – slide 29
    Activity Wells Production 2018E Gross (Net) Wells: 16 (7.3) 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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