Gulfport Energy Corporation · NYSE:GPOR
Gulfport Energy — Capital One Southcoast Energy Conference 2010
40 slides from Gulfport Energy's conference presentation, Dec 8, 2010
Slide 1: Gulfport Energy Corporation – Capital One Southcoast Energy Conference
Exhibit 99.1 GulfportOne Capital Energy Southcoast Corporation Energy Conference December 8, 2010 Exhibit 99.1
Slide 2: Forward-Looking Statements
Forward-Looking This Exchange Gulfport business reference experience actual the which contemplates, Consequently, anticipated obligation, Prior production optional “unrisked recovery volumes determine greater methodology 2 opportunities presentation toresults are risk 2010, disclosure that strategy
Slide 3: Gulfport Company Overview
Gulfport Company Areas Market Ticker: 45 Enterprise Canadian Thailand Niobrara Permian Southern Acreage: Portfolio 20.8 34.6 513 18.8 587.2 Produced Approximately ²¹Forecasted the 3 Market Enterprise MM Company’s MMBO MMBOE MMBOE ofCap¹: Shares Operation Today capitalization Shale Highlights 131,901
Slide 4: Recent Operational and Financial Highlights – Strong 3Q'10
Recent Strong 3Q’10 13% $24.0 $23.4 20% $12.7 22% Began Grizzly² – ²¹[Graphic measures 4 Please Gulfport Expect Secured Purchased Reported 89 35 No primary contingent sequential significant million permitting production production Financial refer has Appears tocrews owns LOE begin two finalized core
Slide 5: 2011 Guidance
2011 Year Average Projected Lease Budgeted $2.50—$3.50 West ¹Gulfport 5 Based Ending Guidance Cote Operating upon Daily currently Year-Over-Year Operating Capital Blanche 12/31/2011 the OilExpense—$/BOE midpoint Expenditures—In expects Equivalent Bay Costs $35—$38 Forecasted Production per to of spe
Slide 6: GPOR vs. Peers Comparison
GPOR Share Company SWIFT 685 BRIGHAM CONCHO 228 PETROQUEST $ ²¹Subgroup 6 Closing Bloomberg 27.60 247$ $82 97 Total vs. ENERGY $7.4 383 3.9 prices —$ Average Price¹ Peers RESOURCES Debt EXPLORATION $20.5 27.7 consensus 2,276 56 and ENERGY (9/30/10) Enterprise $35% 28% CO 4.1 9.8 6.4 7.7 5enterprise
Slide 7: Capturing Large Valuable Resource Potential
Capturing Large 20.8 10.1 24.5 Does 513 18.8 MMBO MMBOE Year-End Remaining 40-Acre 7 MMBO MMBO MMBOE 74.2 not exploitable 19.9 Units include 24.5 Niobrara MMBOE Valuable Estimate onof ofModern 10.1 Technology MMBOE of best probable significant proved probable unbooked oil-rich 30.9 Net Oil estimate
Slide 8: West Cote Blanche Bay – Net Inventory and 2011 Plan
Net Inventory¹ Typical Production² – West 2010 ³²¹•2011 8As Average Added 12/31/09 3Q’10 Net 21 5,668 Capital Internal ~ ~93% Drilled Currently Purchased Plan CAPEX: 27% 100% 55% 78% >100% Priced 62% proved PUD ofActivities Planned Cote probable to of ($65.00 ($75.00 November net Well oil third infr
Slide 9: Hackberry – Proved Inventory and Activities
Proved Inventory¹ Hackberry 16 Proprietary 8,330 2011 Plan – CAPEX: Average Production² ~24% 96% 2010 Drilled ³²¹Due 9As 12/31/09 3Q’10 Rig Includes PUD of to to oil Activities Planned to net of November continued drill and reserves weighted move locations, net Gulfport’s $24 acres plans 42 complete
Slide 10: Permian Basin – Inventory and Activities
[Graphic Gross Permian GPOR: Peers CXO: DVN: GPOR Inventory Net Potentially Average Production² ~12% 83% Typical Capital 2010 Drilled Currently – Increased 2011 Plan ²¹CAPEX: 4 1012/31/09 3Q’10 191 82 2100% rigs proved probable gross to oil Activities Planned 3gross Estimated of 140-150 150 Leasehol
Slide 11: Permian Recent Transactions
Permian Gulfport PDC Linn Energen 10 $305 Buyer Berry 3/29/2010 ¹Average 11 35Miles MMBOE 7/1/10 5/20/10 N/A 10/29/10 Petroleum Deal $19,639 8/26/10 –Energy 2,800 N/A Recent Announced Acq. Acq. of$109,000 Acq. 18 Berry Acq. 10/25/2010 2P $127,333 Transactions Berry reserves 1/1/10 Valuation Purchase
Slide 12: Permian Deal Comps – Berry/Linn Acquisition
Permian Deal $/Acre: $/Flowing $/Proved: Gulfport 12 Announced: $19,355 Deal owns N/A Barrel: Comps ~3,300 10/25/2010 $150,000 –net Berry acres Purchase 10/25/10 in the vicinity Price: $180 of thisMM transaction Acreage: 9,300 Net Acres Production: 1,200 BOEPD Reserves: 35 MMBOE of P2 Transaction Me
Slide 13: Permian Deal Comps – Energen
Permian 10 Deal $/Acre: $/Flowing $/Proved: Gulfport 13 Miles Announced: $21,264 Deal owns $10.28 Barrel: Comps ~4,300 8/23/2010 $206,000 –net Energen acres Purchase in 8/23/10 the vicinity Price: $185 of this MM transaction Acreage: 8,700 Net Acres Production: 900 BOEPD Reserves: 18 MMBOE Transacti
Slide 14: Permian Linn Deal Comps
Permian Linn Deal $/Acre: $/Flowing $/Proved: Gulfport 14 Announced: 7/1/10 N/A Deal Energy owns $12.86 Barrel: Acq. Comps ~3,300 7/1/2010 $95,000 –net Linn acres Purchase Energy in the7/1/10 Price: vicinity $90ofMM thisAcreage: transaction N/A Production: 950 BOEPD Reserves: 7 MMBOE Transaction Met
Slide 15: Permian Linn Deal Comps
Permian Linn Deal $/Acre: $/Flowing $/Proved: Gulfport 10 15 Miles Announced: 3/29/10 N/A Deal Energy owns $16.94 Barrel: Acq. Comps ~7,600 3/23/2010 $109,000 –net Linn acres Purchase 3/29/10 in the vicinity Price: $305 of this MM transaction Acreage: N/A Production: 2,800 BOEPD Reserves: 18 MMBOE T
Slide 16: Niobrara – Proved Inventory
Proved Inventory¹ Niobrara 23 3 16 Shootgross 75-150 Typical Capital Gross Interpret Drill CAPEX: Horizontal Upside Down reserves producing ²¹Potential 4/1/10 Internal threePUD Differentials 2010 Currently 2011 Activities Planned EUR and spacing MMBOE cost Well seismic to $1 locations estimates in p
Slide 17: Niobrara – Acquisition Strategy and Significant Upside
Niobrara—Acquisition 24,468 75 GPOR Significant Historical recoveries A ¹Internal 17 1% to 150 increase Leasehold net estimates MMBOE¹ recoveries acres oil in focused place recoveries Area of perin gross Strategy section near an would area original a number have that increase oil historically ranged
Slide 18: Craig Dome Niobrara Prospect
Craig 8,630 Niobrara Buck 4.73 Well Vertical, Completed The Subsequently, – 18This Craig Planning Currently Both Craig MMBO #1 #2 #3 Peak Dome Gross well wells Dome (1987) Unstimulated –Dome Shale Development Field a9/09 10/07 was have /Prospect 60 were &4,315 two has Vertical, 7.7 square air two Pr
Slide 19: Grizzly Overview and Resource Estimates
Grizzly¹ -House Estimate Grizzly Approximately 19 CurrentProperties GrizzlyAsset (P50) Properties Alberta Overview Prospective 65% Oil Assigned Not Assigned Not of Sands Assigned Grizzly’s Assigned Resource Leases Contingent Contingent Contingent acreage Contingent (OSLS) 202Resource was Resource MM
Slide 20: Grizzly Resource Estimates (Barrels)
Grizzly¹ Grizzly Barrels) Probable Notes: equally Contingent technology Prospective of Best is Discovered Undiscovered production. It viable that ¹discovery 20 Gulfport should afuture measure itEstimate will for likely Interest Reserves development be reserves Grizzly but Energy be or Resources Petr
Slide 21: Grizzly – Southern Pacific McKay and Thickwood Hills Activity
Grizzly¹ 10 GLJ Sourthern Construction AOSC/PetroChina Marathon Grizzly ¹52 21 Gulfport Kilometers Primary didThickwood has not Thickwood Birchwood has Pacific Energy &plans evaluate of plans Contingent 6.2 the for has Corporation Miles submitted all-season Hills to Hills Thickwood 29 received 35+ d
Slide 22: Grizzly – Firebag Area Delineation
Grizzly¹ New 30 UTS 5 22 22.5 24.0 GLJ Delineation Imperial – Delineation Oilsands 9 SilverBirch Kilometers Firebag UTS-SilverBirch Additional Grizzly ¹31 Gulfport New Primary did Meters Oil has Firebag not QuestOil Wells Energy core &Sands plansRiver Resources evaluateEnergy 3.1 Drilled Contingent
Slide 23: Grizzly – Algar Lake Area
Grizzly¹ 5 23 Kilometers Algar Application Design GLJ Grizzly In ¹Connacher Gulfport April assigned capacity Algar has 2010 EnergyLake completed has plans filed JACOS 98 Lake plans of 3.1 Area MMbbls in for Miles Corporation 11,300 Area SAGD March to 20 filed construction expand primary of BOPD 2010
Slide 24: Grizzly Development Timeline – Algar Lake
Grizzly¹ Grizzly Development – years Why Low Proximity ¹Timeline: 24 Gulfport The Grizzly Upon Geologic Develop at project Stage second first approval, has an Algar plans Grizzly Energy to two estimated submitted 1Infrastructure is plant plan development Algar Risk Lake phases to expected Grizzly ex
Slide 25: Grizzly Proven Modular SAGD Design
Grizzly¹ Proven Boiler Conventional Self Standard Production Unique 5,000 One All Field Designed ¹High 25 Gulfport equipment modules generating pad level construction BOPD feedwater Plant modular SAGD of oil to Energy of trucked 10 meet be and close Process modular process package well on portable p
Slide 26: Key Investment Considerations
Key OILY Gulfport Active Niobrara Grizzly Moving Historically G & Gulfport’s Multi-year Forecasted First ¹Track 26 Based ROWING Investment oil TODAY record most upon provides sands toward has acquisition large drilling production aprolific aof average 95% project diverse opportunistic first captured
Slide 27: Appendix A
Appendix A 27
Slide 28: Hedged Production – Fixed Price Contracts
Hedged Gulfport Weighted October-10 2,000 2010 Q4 Fixed Volume 28 Q12011 June-11 Price Q2 (Bbl) Production Energy Average Q3 $58.24 Contracts 211,600 $86.96 Q4Corporation Total Barrels 2,300 2,000 180,000 November-10 Per July-11 Fixed Month 182,000 Price $86.96 Daily $58.24 184,000 Contracts 2,000 P
Slide 29: Canadian Land – Current Trading Comparables
Canadian Land Current Market Athabasca Connacher MEG OSUM Laracina Average Information Comparable No 29 proven Production Energy Cap PRV 2P 10,246 excluding PRV Oil Oil commercial + PUB EV is trading $1,204 Best Sands PUB $1,778 Sands sourced Acreage $0.90 $512 Reserves Total Carbonates $7,945 Compa
Slide 30: Canadian Transaction Comparables
Canadian Transaction Announcement PTTEP Resource Candian N/A $5,945 2,020 $0.88 excluding 8/31/2009 Average Information Historical No 30 proven $0.79 $0.68 Devon 537,600 Statoil (Excluding Natural Oil transactions Carbonates $1,737 Total commercial Contingent including isEnergy Sands sourced 40% Tra
Slide 31: Thailand – Gas Exposure via APICO
Thailand 2005, Gulfport gained exposure to awith natural gas play in northeast Thailand through an 1/286.4 indirect TCF¹ equity of per proved investment day in reserves natural gas Net of APICO to Gulfport’s interest, total proved the firstreserves quarter of are estimated Third 31 party Exploratory
Slide 32: Appendix B – Oil Sands Activity Overview
Appendix Oil 32 Sands Activity B Overview
Slide 33: Grizzly – JACOS Hangingstone and Connacher Algar Lake Update
Grizzly JACOS 1st In Connacher Pod – Algar 33Est. April Production 1 Average Lake 10,000 1stPlans Oil Hangingstone 2010 Production Great –Sands Activity BOPD JACOS Continued for 1999 Divide Algar 2010—8500 –SAGD Dec. Filed Update Cumulative SAGD Lake SAGD Delineation 2007 their Project Project SAGD
Slide 34: West Sunshine Project Overview
West Sunshine Project Dover Total – ConocoPhillips BP 1 346.2 – Value Athabasca Billion Dover GrizzlySAGD SouthernArea Billion Athabasca GLJ) ¹MacKay Wabiskaw OilOilsands Oil Creation SAGDArea Bbls Project Sands Pacific – Barrels SandsProject Trend Resources OBIP* West Thickwood Birchwood West -McMu
Slide 35: Thickwood Hills Activity Update
Thickwood In Southern submitted Internal stands 35 Maytoof mapping benefit Pacific an 2009, Hills application Southern from acquired –ofActivity Grizzly’s new for the Pacific infrastructure Update a remaining Thickwood 150,000 submitted barrel 20% moving Hills their per interest area day into applic
Slide 36: West Ells Activity Update
West On provided in Grizzly’s ²¹currently 36 Figure Grizzly place Mach Ellsof 2.2 internal in planning West 31, North atheir -22 thickness 2010 Ells of –West estimate Activity Sunshine an Sunshine North leases aggressive Ells andleases are of size Update Project Oilsands Oilsands Grizzly also commen
Slide 37: Silvertip Activity Update
Silvertip Grizzly¹ Combining those geologically Total 19 64 2-D New Gross McMurray Gulfport Grizzly ³¹Net 37 Gulfport Isopach core miles to Bitumen seismic Pod SAGD found Estimate Gulfport, holes Silvertip Oil acquired of Energy –map Total owns Activity Wabiskaw/McMurray proprietary the Sands Sands¹
Slide 38: Firebag Activity Update
Firebag New 30 Grizzly During The directly ¹Oilsands 38 Map Delineation two Imperial Sourced the Oil offsetting River core Quest 2009/2010 Sands holes Oil –Wells from Wallace Activity Resources our Firebag found Oilsands Drilled Firebag winter Creek Update 24 River Firebag and Since drilling Quest R
Slide 39: Saleski Activity Update
SaleskiNov. Grizzly Proposed OSUM *OSUM Possible Laricina Resource (from 39 –Saleski Oil Tunnel Pilot Energy’s Grosmont Activity and Project 16, Sands a 2009 Area Potential Locations Update Saleski Porosity –Laricina Proposed Production Area Pilot (3Map to Presentation) Project Grosmont 4Underground
Slide 40: Liege-Harper Grosmont Activity Update
Liege-Harper Sunshine Athabasca Laricina Carbonates Shell Area Suncor Grizzly ¹Isopach 40Isopach (North Grosmont Energy Oil Map Energy Map Oilsands Oil with Sands End) of –Sands of Grosmont Activity Grosmont Burnt aGrosmont Liege-Harper Potential Harper / Zama Lake Update Frontier Area CProduction C
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