NYSE American: GDP
Management Presentation
May, 2021
- This presentation has been prepared by Goodrich Petroleum Corporation (the "Company") solely for information purposes and may include "forward- looking statements" within the meaning of the U.S. Private Litigation Securities Reform Act of 1995. The Company, its respective employees, directors, officers or advisors, does not make any representation or warranty as to the accuracy or completeness of the information contained in the presentation materials. The Company shall have no liability for this presentation, information contained herein, or any representations (expressed or implied), whether the communications were oral or written. The statements, other than statements of historical facts, included in this presentation that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements include, but are not limited to forward-looking statements about acquisitions, divestitures, trades, potential strategic alliances, the availability of capital, the expectations of plans, strategies, objectives and anticipated financial and operating results of the Company, including the Company's drilling program, production, hedging activities, capital expenditure levels and other guidance that may be included in this presentation. These statements are based on certain assumptions made by the Company based on management's experience and perception of historical trends, current conditions, anticipated future developments and other factors believed to be appropriate. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements. These include risks relating to the Company's financial performance and results, availability of sufficient cash flow to execute its business plan, prices and demand for oil, natural gas and natural gas liquids, the ability to replace reserves and efficiently develop current reserves, the ability to access the capital markets and finance operations, including capital expenditures, and other important factors that could cause actual results to differ materially from those projected as described in this presentation and the Company's reports filed with the Securities and Exchange Commission. See "Risk Factors" in the Company's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other public filings and press releases.
- Any forward-looking statement speaks only as of the date on which such statement is made and the Company undertakes no obligation to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise.
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- 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 Company's sustainability. We are proud of our statistics below, but constantly strive to deliver industry-leading results
Environmental: | ||
◦ | Total Gas Flared: (% of Production - 2020) | .06% |
◦ Total GHG Emissions: (2020) (000 Mt) (EPA,LDEQ,MDEQ,TECQ Compliant) | 35 | |
◦ | Total Water Use (2019 - MMBls): | 5.1 |
- OSHA Compliant Social:
◦ | Number of Employees: | 43 |
◦ | Percentage of Employees Unionized: | 0% |
◦ Percentage of Women in the Workforce: | 49% | |
◦ Percentage of Minorities in the Workforce: | 20% | |
Governance: | ||
◦ | Size of Board: | 8 |
◦ | Independent Directors: | 6 |
◦ | Percentage of Independent Directors: | 75% |
◦ | Board Duration: | 1 Year |
◦ Number of Board Meetings: | 9 | |
◦ | Board Meeting Attendance: | 100% |
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HAYNESVILLE PURE PLAY OPPORTUNITY
12+ Year Inventory of Core Locations (80% Operated)
26,000+ Net Acres (Core - De-Risked). 4,000 Net Acres
Added in 2020
>1.8 Tcf of Natural Gas Resource Potential in North | ||||
Louisiana | HAYNESVILLE SHALE - CORE | |||
STRONG HAYNESVILLE RESULTS | Proved Reserves (YE20 - SEC) | 540 Bcfe | ||
Gross (Net) Acres (4Q20): | 49,000 (26,000) | |||
Mississippi | Objective: Haynesville Shale | |||
Production: 125,000 Mcfe/day (1Q21). 2Q21 Guidance | ||||
Texas | ||||
of 150,000 - 160,000 Mcfe/day | ||||
Low Finding/Development and Lifting Cost Generating | ||||
Strong Rates of Return | ||||
2.5 Bcf Per 1,000 Feet of Lateral | ||||
TUSCALOOSA MARINE SHALE: | ||||
COMPANY RETURNS AND BALANCE SHEET | Proved Reserves (YE20 - SEC) | 3 Bcfe | ||
Gross (Net) Acres (4Q20): | 48,000 (33,000) | |||
Objectives: Tuscaloosa Marine Shale | ||||
Low Leverage (Net Debt to EBITDA) (TTM) - 1.76X
Exit 2021 Estimated Leverage Multiple of ~1.0X
Top Tier Cash Margin (61%), Return on Invested Capital (38%) and Projected Free Cash Flow Yield
2021 Guidance: 160,000 Mcfe/day (Midpoint) and $15 - $30 Million of Free Cash Flow ($2.50 - $3.00/Mcf)
EAGLE FORD SHALE:
Net Acres (4Q20): | 6,000 (4,300) |
Proved Reserves (YE20 - SEC) | 0 |
Objectives: Eagle Ford Shale, Pearsall Shale & Buda Lime
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SEC Proved Reserves (Bcfe) | YE20 Proved Reserves by Commodity | |
ETX | TMS | NLA - Haynesville | Total | Natural | |||
600 | Gas - 540 | ||||||
543 | (99%) | ||||||
517 | |||||||
480 | |||||||
500 | |||||||
428 | Oil - 3 | ||||||
400 | (1%) | ||||||
YE20 Proved Reserves by Area (Bcfe, %) | |||||||
300 | 303 | HS - 540 | |||||
(99%) | |||||||
200 | |||||||
TMS-3 | |||||||
100 | 55 | (1%) | |||||
YE20 Proved Reserves by Category (Bcfe, %) | |||||||
0 | |||||||
2015 | 2016 | 2017 | 2018 | 2019 | 2020 | PUD-388 | |
PV10 of $337 - $484 Million at | (71%) | ||||||
PDP- | |||||||
$2.50 - $3.00 NYMEX | |||||||
155 | |||||||
(29%) |
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Goodrich Petroleum Corporation published this content on 21 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 May 2021 19:18:06 UTC.