GeoResources, Inc. INVESTOR PRESENTATION MARCH 2012
Company Highlights Balanced Portfolio Long-Term Growth 79,000 net acres in two premier U.S. liquids-rich resource plays Strong Current Cash Flow/Profitability 6,116 Boe/d net production in 4Q 2011 (67% oil)(1) 6,982 Boe/d including…
Management Management Track Record Track Record Track record of creating value and liquidity 1992-1996 1997-2001 Success with multiple entities over multiple Hampton Resources Corp Texoil Inc. Gulf Coast, Permian Basin years Gulf…
Company Overview Company Overview Operations focused on Bakken, Eagle Ford and Austin Chalk Bakken 55,000 net acres Oil-weighted production and reserves from primarily operated properties Growing production profile Significant…
Reserves and Production Reserves and Production SEC 1/1/12(1) January 1, 2012 Proved Reserves 29.2 MMBOE(1) PUD, Gas, Bakken, 33% 24% 30% Eagle Other, Ford, PDP, 52% 4% Oil, Austin PDNP, 55% 67% Chalk, 15% 20% Proved…
Asset Overview FOCUSED ON OIL-WEIGHTED DEVELOPMENT
Bakken Bakken Shale Shale Overview Overview Williams County Project (28,000 net acres) Primarily operated with average WI of 34% 19 gross wells drilled to date (14 producing) 20 to 24 gross wells planned for 2012 Eastern Montana…
Williams Williams County County Project Drilling Results Project Peak Month Average Rates In Project Area Concentrated 28,000 net acre block in NW Williams Co., ND 20 to 24 gross operated wells planned to be spud in 2012 (6 spud…
Williams County/Eastern Montana Economics 300 Mboe Case Returns(1)(2) 450 Mboe Case Returns (1)(2) (1) Dry gas price held constant at 4.50/Mcf. See additional assumptions in Appendix. (2) EUR refers to managements internal estimates…
Eagle Ford Shale Overview Concentrated 24,000 net acre block in volatile oil window in Fayette/Gonzales Counties Primarily operated with average WI of 35% - 55% 10 gross wells drilled to date (7 producing) 20 to 24 gross operated…
Eagle Ford Drilling Results Successful drilling has de-risked acreage Peebles 1H 12 wells spud to date 30 day Avg. Rate: 436 Boe/d Seven wells drilled, completed and on production Black Jack Springs 1H 30 day Avg. Rate: 369 Boe/d…
Eagle Ford Economics 325 Mboe Case Returns(1)(2) 500 Mboe Case Returns(1)(2) (1) Dry gas price held constant at 4.50/Mcf. See additional assumptions in Appendix. (2) EUR refers to managements internal estimates of reserves…
Eagle Eagle Ford Ford Resource Illustrative ResourcePotential Potential Resource Potential (1) Eagle Ford Shale 325 Mboe 500 Mboe Assumed Spacing Unit Size (Acres) 900 900 Wells per Spacing Unit 6 6 Acres per Well (Spacing…
Improving Economics Eagle Ford Bakken Improving drilling efficiencies Improving drilling efficiencies Drilling without intermediate casing Efforts to date have reduced drilling time from Pad drilling 30 to 20 days resulting in cost…
Austin Chalk 200,000 operated net acres across Giddings and Brookeland field areas of the Austin Chalk trend Acreage provides potential for multiple targets across large geographic region (Austin Chalk, Woodbine, Buda, Wilcox,…
Financial Overview FOCUSED ON MAXIMIZING SHAREHOLDER VALUE
2012 Capital and Production Guidance Capital Allocation Production Guidance 2012 capital plan of 194 MM to 272 MM Year Ending December 31, 2012 (excluding Q1 2012 acquisitions) 7,300 to 8,300 boe/d estimated daily rate 70% to 75%…
Strong Financial Position Conservative use of leverage to maintain strong balance sheet Ability to fund 2012 capital budget with cash flow and undrawn debt capacity Year ended 12/31/11 Adjusted EBITDAX(1) = 89.2 MM 219 MM of…
Summary Investment Highlights Long-Term Growth Potential Imbedded in Eagle Ford and Bakken positions Multi-year drilling inventory 100+ Mmboe of undeveloped net resource potential Ongoing leasing and acquisition program to further…
Appendix Financials Production Reserves Hedging Additional Disclosures
Historical Performance Select Historical Operating and Financial Data Y ears Ended December 31, 2011 2010 2009 2008 Key Dat a: Av g. realized oil price after hedges (/Bbl) 88.4 2 7 0.3 3 61 .09 82 .4 2 Av g. realized natural gas…
Reconciliation of Non-GAAP Measures Adjusted EBITDAX Reconciliation Y ears Ended December 31, 2011 2010 2009 2008 ( in millions) Net Income At t ribut able t o GeoResources 31.3 23.3 9.8 13.5 Adjustm ents: (Gain) on sale of…
Reconciliation of Non-GAAP Measures Adjusted Net Income Reconciliation Y ears Ended December 31, 2011 2010 2009 2008 ( in millions) Net Income At t ribut able t o GeoResources 31.3 23.3 9.8 13.5 Adjustm ents: Unrealized (gain) /…
Production by Area Diverse production base from multiple areas Oil-weighted production continues to accelerate Daily Production by Area(1) (Boe/d) 3 Mos Ended 12/31/11 3 Mos Ended 9/30/11 Rate % Oil Rate % Oil Growth Bakken…
Proved Reserve Summary GEOI Proved Reserves(1) SEC Pricing at 1/1/12 ( in millions) Oil Gas Total % of MMBO BCF MMBOE Total PV-10(2) PDP 10.8 31.9 16.1 55.1% 376.7 PDNP 3.1 6.6 4.2 14.4% 109.5 PUD 5.8 18.8 8.9 30.5% 128.7 Total…
Standardized Measure SEC PV-10 Reconciliation to Standardized Measure(1) ( in millions) 1/1/2012 Direct interest in oil and gas reserves: Present value of estimated future net revenues (PV-10) 614.9 Future income taxes at 10%…
Hedging GeoResources uses commodity price risk management in order to execute its business plan throughout commodity price cycles Oil Hedges Natural Gas Hedges 85 .00 to 110.00 Collar Swap Weighted Average Oil Hedge Price…
Additional Disclosures Additional Disclosures The disclosures below apply to the contents of this presentation: In April 2007, GeoResources, Inc. (GEOI or the Company) merged with Southern Bay Oil & Gas, L.P. (Southern Bay) and a…
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