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1Q 2020 Earnings Results – Goodrich Petroleum Corp.

Goodrich Petroleum Corp. · May 7, 2020 · 22 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 2020 Earnings Results – Goodrich Petroleum Corp. – slide 1
    NYSE American: GDP Management Presentation April, 2020
  2. 1Q 2020 Earnings Results – Goodrich Petroleum Corp. – slide 2
    Environmental: Total Gas Flared: (% of Production) 0 Total GHG Emissions: (2019) (000 Mt) (EPA,LDEQ,MDEQ,TECQ Compliant) 27 Total Water Use (2019 - MMBls): 5.1 OSHA Compliant Social: Number of Employees: 51 Percentage of Employees…
  3. 1Q 2020 Earnings Results – Goodrich Petroleum Corp. – slide 3
    HAYNESVILLE PURE PLAY OPPORTUNITY 16 Year Inventory of Core Locations (77% Operated) Acreage is Held By Production and Fully De-Risked 1.0 Tcf of Natural Gas Resource Potential in North Louisiana HAYNESVILLE HAYNESVILLE SHALE -…
  4. 1Q 2020 Earnings Results – Goodrich Petroleum Corp. – slide 4
    SEC Proved Reserves (Bcfe) YE19 Proved Reserves by Commodity Natural Gas ETX TMS NLA - Haynesville Total 600 511 (99%) 517 480 500 428 Oil - 6 (1%) 400 YE19 Proved Reserves by Area (Bcfe, %) 303 HS 511 300 (99%) 200 TMS-6…
  5. 1Q 2020 Earnings Results – Goodrich Petroleum Corp. – slide 5
    Net Debt to EBITDA of 1.25x based Capitalization on LQA 4Q19 EBITDA of 83.8 in millions 12/31/19 million; Plan to remain below 1.5x Cash and Cash Equivalents 1.5 Senior Credit Facility (Borrowing Base) 92.9 2L Senior Secured…
  6. 1Q 2020 Earnings Results – Goodrich Petroleum Corp. – slide 6
    160,000 Mcfe/Day 140,000 120,000 100,000 80,000 60,000 Mcfe/Day 40,000 20,000 - 2016 2017 2018 2019 2020* * Mid-Point of Guidance April, 2020 7
  7. 1Q 2020 Earnings Results – Goodrich Petroleum Corp. – slide 7
    Natural Gas Volumes Swap Volumes Collar Volumes Period Swap Price Collar Prices (Mcf/d) (Mcf/d) (Mcf/d) 1Q20 70,000 70,000 0 2.87 2Q20 70,000 47,000 23,000 2.54 2.40 - 2.62 3Q20 70,000 45,000 25,000 2.56 2.40 - 2.62 4Q20 70,000…
  8. 1Q 2020 Earnings Results – Goodrich Petroleum Corp. – slide 8
    Development Schedule 2020E Volumes and Cost Guidance 2020E Activity Production Annual Net Production (Bcfe): 50 52 Gross (Net) Wells: 12 (4.2) Avg. Daily Production Midpoint (MMcfe/d): 140 Avg. Net Lateral Length: 8,500 Percent…
  9. 1Q 2020 Earnings Results – Goodrich Petroleum Corp. – slide 9
    25 20 15 10 5 0 -5 GDP -10 Peer Group Includes: April, 2020 AMPY,APA,AR,AXAS,BCEI,BRY,CDEV,CHAP,CHK,CLR,COG,CPE,CRC,CRK,CXO,DNR,DVN,EOG, EQT,ESTE,FANG,GDP,GPOR,HPR,KOS,LONE,LPI,MCF,MGY,MR,MTDR,MUR,NOG,NBL,OAS,OVV,…
  10. 1Q 2020 Earnings Results – Goodrich Petroleum Corp. – slide 10
    6 5 4 3 2 1 0 GDP Peer Group Includes: AMPY,APA,AR,AXAS,BCEI,BRY,CDEV,CHAP,CHK,CLR,COG,CPE,CRC,CRK,CXO,DNR,DVN,EOG, EQT,ESTE,FANG,GDP,GPOR,HPR,KOS,LONE,LPI,MCF,MGY,MR,MTDR,MUR,NOG,NBL,OAS,OVV, April, 2020…
  11. 1Q 2020 Earnings Results – Goodrich Petroleum Corp. – slide 11
    9 8 7 6 5 4 3 2 1 0 GDP Peer Group Includes: April, 2020 AMPY,APA,AR,AXAS,BCEI,BRY,CDEV,CHAP,CHK,CLR,COG,CPE,CRC,CRK,CXO,DNR,DVN,EOG, EQT,ESTE,FANG,GDP,GPOR,HPR,KOS,LONE,LPI,MCF,MGY,MR,MTDR,MUR,NOG,NBL,OAS,OVV,…
  12. 1Q 2020 Earnings Results – Goodrich Petroleum Corp. – slide 12
    Pay Zones GDP 22,000 Net Acres 100 300 feet April, 2020 13
  13. 1Q 2020 Earnings Results – Goodrich Petroleum Corp. – slide 13
    Haynesville - Core Total Gross/Net Acres: 34,000/19,000 Average WI/NRI: 59%/43% Acreage HBP: 100% 117 total producing wells (32 Operated) 1/1/20 Inventory of 208 gross (91 NORTH net) potential locations on 880 LOUISIANA CORE…
  14. 1Q 2020 Earnings Results – Goodrich Petroleum Corp. – slide 14
    Haynesville Completion Evolution Evolving completions maximize near-wellbore stimulation Original Design Tested Current Design 4,600 Laterals 10,000 Laterals 4,600 - 10,000 Laterals 1,000 lbs/ft Proppant 5,000+ lbs/ft Proppant…
  15. 1Q 2020 Earnings Results – Goodrich Petroleum Corp. – slide 15
    Haynesville Recent Industry Activity (1) CRK (23) CRK (2) CRK 3. CRK Gates 26-35 1 & 2 4. CRK 5. CHK (22) CHK Nissen 28-21HC 1 Nissen 28-21HC 2 FLORSHEIM 9-16 HC 10,000 Laterals HUNTER 28-21HC 1&2 GEPH Unit Black 1H 10,000 Lateral…
  16. 1Q 2020 Earnings Results – Goodrich Petroleum Corp. – slide 16
    April, 2020 17
  17. 1Q 2020 Earnings Results – Goodrich Petroleum Corp. – slide 17
    April, 2020 18
  18. 1Q 2020 Earnings Results – Goodrich Petroleum Corp. – slide 18
    April, 2020 19
  19. 1Q 2020 Earnings Results – Goodrich Petroleum Corp. – slide 19
    Assumptions Louisiana 4,600' Lateral Type Curve 100,000 Avg Daily Production (Mcfpd) EUR 12.2 Bcf (2.7 Bcf/1,000) 10,000 Sales Gas BTU Price 1.020 Adjustment 1,000 Pricing Average - NYMEX less 0.15 / MMBtu Differentials/…
  20. 1Q 2020 Earnings Results – Goodrich Petroleum Corp. – slide 20
    Assumptions Louisiana 7,500' Lateral Type Curve 100,000 Avg Daily Production (Mcfpd) EUR 21 Bcf (2.8 Bcf/1,000) 10,000 Sales Gas BTU Price 1.020 Adjustment 1,000 Pricing Average - NYMEX less 0.15 / MMBtu Differentials/…
  21. 1Q 2020 Earnings Results – Goodrich Petroleum Corp. – slide 21
    Assumptions Louisiana 10,000' Lateral Type Curve 100,000 Avg Daily Production (Mcfpd) EUR 25 Bcf (2.5 Bcf/1,000) 10,000 Sales Gas BTU 1.020 Price Adjustment 1,000 Pricing Differentials/ Average - NYMEX less 0.15 / MMBtu…
  22. 1Q 2020 Earnings Results – Goodrich Petroleum Corp. – slide 22
    Cash Flow Generation With Strong Balance Sheet and Low Trading Multiple Creates an Attractive Entry Point for the Stock 16 Year Inventory on Core Haynesville Position Provides 1+ Tcf of Resource Potential on Acreage Held By…

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