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Third Quarter 2021 Earnings Presentation – Goodrich Petroleum Corp.

Goodrich Petroleum Corp. · Nov 1, 2021 · 17 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. Third Quarter 2021 Earnings Presentation – Goodrich Petroleum Corp. – slide 1
    NYSE American: GDP Management Presentation 3Q21 Earnings Slides November, 2021
  2. Third Quarter 2021 Earnings Presentation – Goodrich Petroleum Corp. – slide 2
    GDP believes in environmental, social and governance stewardship. Our culture is one of respect, ethics and honesty. We view safety, personal responsibility, teamwork and inclusion as essential to our Companys sustainability. We are…
  3. Third Quarter 2021 Earnings Presentation – Goodrich Petroleum Corp. – slide 3
    HAYNESVILLE PURE PLAY OPPORTUNITY 12+ Year Inventory of Core Locations (85% Operated) 32,000 Net Acres (Core - De-Risked). 6,000 Net Acres Added YTD and 4,000 Net Acres Added in 2020 2.37 Tcf of Natural Gas Resource Potential in…
  4. Third Quarter 2021 Earnings Presentation – Goodrich Petroleum Corp. – slide 4
    SEC Proved Reserves (Bcfe) YE20 Proved Reserves by Commodity Natural ETX TMS NLA - Haynesville Total Gas 540 600 (99%) 543 517 480 500 428 Oil - 3 (1%) 400 YE20 Proved Reserves by Area (Bcfe, %) 303 HS 540 300 (99%) 200…
  5. Third Quarter 2021 Earnings Presentation – Goodrich Petroleum Corp. – slide 5
    Capitalization in millions 9/30/21 Cash and Cash Equivalents 5.5 Senior Credit Facility 90.4 2L Senior Secured Notes 32.5 Total Net Debt 117.4 Credit Statistics ( in millions) 3Q21 TTM Adjusted EBITDA 95.3 Net Debt / Adjusted…
  6. Third Quarter 2021 Earnings Presentation – Goodrich Petroleum Corp. – slide 6
    250,000 Mcfe/Day 200,000 150,000 100,000 Mcfe/Day 50,000 - 2016 2017 2018 2019 2020 2021* 2022* * Mid-Point of Guidance 7
  7. Third Quarter 2021 Earnings Presentation – Goodrich Petroleum Corp. – slide 7
    Natural Gas Volumes Swap Volumes Collar Volumes Period (Mcf/d) (Mcf/d) (Mcf/d) Swap Price Collar Prices 3Q21 143,300 113,300 30,000 2.86 2.50 - 3.50 4Q21 150,000 120,000 30,000 2.90 2.50 - 3.50 1Q22 150,000 90,000 60,000 2.87 2.63 -…
  8. Third Quarter 2021 Earnings Presentation – Goodrich Petroleum Corp. – slide 8
    Haynesville - Core Total Gross/Net Acres: 47,400/28,600 Average WI/NRI: 61%/45% Acreage HBP: 85% 141+ total producing Haynesville wells 8/23/21 Inventory of 266 gross NORTH (127 net) potential locations on 880 LOUISIANA CORE…
  9. Third Quarter 2021 Earnings Presentation – Goodrich Petroleum Corp. – slide 9
    Core Haynesville Inventory GROSS NET PROVED YE20 POTENTIAL TOTAL 3P NET NET PARISH/ GROSS NET REMAINING REMAINING RESERVES PV10 RESERVES RESOURCE COUNTY AREA ACRES ACRES LOCATIONS LOCATIONS (BCFE) * (MM) * (BCFE) ** POTENTIAL…
  10. Third Quarter 2021 Earnings Presentation – Goodrich Petroleum Corp. – slide 10
    Assumptions Louisiana 4,600' Lateral Type Curve 100,000 Avg Daily Production (Mcfpd) EUR 13 Bcf (2.8 Bcf/1,000) 10,000 Sales Gas BTU Price 1.020 Adjustment 1,000 Pricing Average - NYMEX less 0.20 / MMBtu Differentials/…
  11. Third Quarter 2021 Earnings Presentation – Goodrich Petroleum Corp. – slide 11
    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 0.20 / MMBtu Differentials/…
  12. Third Quarter 2021 Earnings Presentation – Goodrich Petroleum Corp. – slide 12
    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 0.20 / MMBtu…
  13. Third Quarter 2021 Earnings Presentation – Goodrich Petroleum Corp. – slide 13
    2.50 2.00 2.35 1.50 2.35 2.07 1.00 1.84 1.49 1.04 1.26 0.50 0.90 0.92 1.06 1.02 0.00 GDP Cash Opex Cash Interest Expense Peers include: AR,COG,CNX, CRK,EQT,GDP, RRC,SWN 14
  14. Third Quarter 2021 Earnings Presentation – Goodrich Petroleum Corp. – slide 14
    Cash Margin* 80% 70% 2% 60% 50% 40% 21% 2% 70% 61% 58% 39% 56% 43% 30% 37% 30% 20% 32% 19% 10% 14% 0% GDP Peer Companies Include: AR,COG,CNX,CRK,EQT, GDP,RRC,SWN * Cash Margin = Per Unit Cash Flow/Net Realized Price…
  15. Third Quarter 2021 Earnings Presentation – Goodrich Petroleum Corp. – slide 15
    60% 50% 40% 30% 20% 56% 45% 21% 17% 10% 13% 12% B 12% 10% 0% GDP Peers include: AR,CNX,COG,CRK,EQT,GDP, RRC,SWN 16
  16. Third Quarter 2021 Earnings Presentation – Goodrich Petroleum Corp. – slide 16
    60% 50% 40% 30% 20% 10% 0% GDP Peers include: APA,AR,BCEI,CDEV,CLR,CNX,COG,CPE,CRK,DVN,EOG,EQT,ESTE,FANG, GDP,LPI,MCF,MGY,MRO,MTDR,MUR,OVV,PDCE,PXD,PVAC,RRC,SBOW,SM,SWN,TALO, WLL,WTI,XEC 17
  17. Third Quarter 2021 Earnings Presentation – Goodrich Petroleum Corp. – slide 17
    Cash Flow Generation With Strong Balance Sheet, Superior Rates of Return and Low Trading Multiple Creates an Attractive Entry Point for the Stock 12+ Year Inventory on Core Haynesville Position Provides 2.37 Tcf of Resource…

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