Skip to main content IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. Investor Presentation | Shale Experts
Loading...
Pm

IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc.

Panhandle Oil and Gas Inc. · Apr 20, 2015 · 45 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. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 1
    PHX LISTED NYSE
  2. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 2
    Panhandle Oil and Gas Inc. (PHX) Overview UNCONVENTIONAL BUSINESS MODEL = THE MINERAL ACREAGE ADVANTAGE Non-operator, participating principally with the largest E&Ps Selective participation with working interest in most economically…
  3. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 3
    Mineral Acreage Ownership Definition Mineral rights are property rights (separate from surface rights) to extract minerals (including oil, natural gas, NGLs) below the surface Property rights in U.S. are special Americans are…
  4. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 4
    PHX Business Model Lower Risk, Higher Returns DIRECT O WNERSHIP O F MINERAL RIGHTS = THE MINERAL A CREAGE A DVANTAGE PHX mineral acreage has extremely low cost basis (approximately 90/acre) Minerals ownership lowers PHX well costs…
  5. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 5
    PHX Business Model Lower Risk, Higher Returns N ON -O PERATED DRILLING PROGRAM = U SE MINERAL O WNERSHIP A S LEVERAGE Large mineral acreage ownership position provides diversity in drilling projects without additional acreage costs…
  6. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 6
    THE MINERAL ACREAGE ADVANTAGE (Economic Impact of Working Interest Participation on Mineral Acres) Typical Fayetteville Shale Well Finding Cost, /Mcfe Rate of Return, % (BTAX) 1.6 30 ASSUMPTIONS: 1.4 25 W.I. NRI 1.2 22% PHX…
  7. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 7
    PHX Business Model Diversified Revenue Sources 75% of revenues from non-operated W.I. production Oil and gas revenues from non-operated working interest (W.I.) production with premier operators Ability to participate in the best…
  8. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 8
    Royalty Production and Revenue History 50 6.00 Royalty Volume Bcfe Royalty Revenue Million 5.50 45 PHX has over 4,000 identified undeveloped locations and over 185,000 open mineral 5.00 40 acres available to feed continued royalty…
  9. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 9
    Financial Highlights - Fiscal 2015 CONDENSED BALANCE SHEET DECEMBER 3 1 , 2 0 1 4 Current assets 27,276,525 Property and equipment 441,077,980 Less accumulated DD&A (210,823,119) Net property and equipment 230,254,861 Other…
  10. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 10
    Financial Highlights Fiscal First Quarter 2015 FIRST Q UARTER DECEMBER 3 1 , 2014 2013 Oil, NGL and natural gas sales 19,519,700 18,473,082 Total revenue (1) 30,999,170 18,396,756 Net income 10,233,761 4,926,318 Earnings per share…
  11. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 11
    Price Risk Mitigation Through Hedging DURATION MONTHLY VOLUME PRICES Gas Nov 2014-April 2015 100,000 mmbtu 3.75 floor/4.25 ceiling Jan-Dec 2015 100,000 mmbtu 3.50 floor/4.10 ceiling Jan-Dec 2015 70,000 mmbtu 3.25 floor/4.00 ceiling…
  12. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 12
    Asset Pyramid Non-proved undeveloped reserves on fee mineral acres and held by production leasehold in the Eagle Ford Shale, Probable Fayetteville Shale, Oklahoma Woodford Shales and Western and Oklahoma/Texas Panhandle horizontal…
  13. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 13
    10 15 20 25 30 0 5 12. 31 .19 99 12. 31 .20 00 12. 31 .20 01 12. 31 .20 02 12. 31 .20 03 12. 31 .20 04 PHX Stock Price History 12. 31 .20 05 12. 31 .20 06 12. 31 .20 07 12. 31…
  14. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 14
    Panhandles Mineral Acreage Strategy Results Ability to maximize return on Company assets through working interest participation in wells drilled on mineral acreage or taking lease bonus payments and non-cost bearing royalty interests…
  15. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 15
    April 2015 Operations Update Current Industry Backdrop Oil and natural gas prices remain below replacement value and futures remain relatively low Service cost declines have not kept pace with the product price drop U.S. oil and…
  16. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 16
    April 2015 Operations Update PHX Strategy Maintain discipline and consistent long term corporate and investment philosophies throughout commodity price cycles Only participate in wells/projects that we believe will earn reasonable…
  17. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 17
    April 2015 Operations Update Current PHX Operations Our first quarter of fiscal year 2015 (Oct- Dec 2014) capital expenditures reflect the much higher product price environment of that time Second quarter FY 2015 capital expenditures…
  18. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 18
    April 2015 Operations Update (Continued) Current PHX Operations The majority of our current drilling and completion investment activity is in the SCOOP Woodford and Springer play in south central Oklahoma where operators continue to…
  19. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 19
    Mineral Holdings Significant Mineral Acreage Holdings 120 Net Acres (Thousands) 100 80 60 40 20 0 20 OK NM TX ND AR Leasehold IPAA-OGIS New York April 20-22, 2015
  20. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 20
    Reserve Statistics Exceptional Reserve Growth Proved reserves at Year-End 2014 Proved reserves increased 36% as compared to YE 2013 to 206.2 Bcfe SEC Flat Pricing PV10 - 370 million (4.04/Mcf, 96.94/Bo & 31.45/Bngl wellhead) NYMEX…
  21. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 21
    MCFE 1,000,000 1,500,000 2,000,000 2,500,000 3,000,000 3,500,000 4,000,000 4,500,000 500,000 0 3.3 1. 2 008 6.3 0. 2 008 9.3 0. 2 008 12. 31. 200 8 3.3 1. 2 009 6.3 0. 2 009 9.3 0. 2 009 12.…
  22. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 22
    Year-End 2014 Reserves and First Quarter 2015 Production and Revenue by Product Gas NGL Oil 120 100 22% 18% 31% 30% 80 42% 9% 12% 52% 60 10% 40 69% 70% 48% 20 0 Year-End First Quarter First Quarter 2014 2015…
  23. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 23
    Unit Costs Per MCFE DD&A LOE/Prod Tax G&A 8.00 7.00 6.00 5.00 Total /Mcfe 4.51 Total 4.24 Total 0.65 3.87 4.00 0.49 Total Total Total Total 0.63 3.43 3.40 3.27 3.26 1.30 0.90 3.00 0.67 0.60 0.52 0.53 1.08 1.11…
  24. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 24
    Annual Production Per Debt Adjusted Share Gas-Mcf Oil & NGL Mcfe Gross Producing Wells 2.00 7,000 1.80 6,105 6,019 6,000 Total 5,666 1.60 1.63 Total 5,107 1.50 1.40 5,000 4,989 0.38 4,861 0.24 Total Gross Producing…
  25. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 25
    Proved Reserves Per Debt Adjusted Share Proved Developed Reserves Per Share Proved Undeveloped Reserves Per Share 28.00 26.00 Total 23.84 24.00 22.00 20.00 Mcfe/Share Total 10.51 18.00 17.56 16.00 Total 6.79 Total…
  26. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 26
    3P Undeveloped Reserves Per Debt Adjusted Share Reserves per Share 70.0 60.0 50.0 Mcfe/Share 49.92 50.01 40.0 41.63 38.99 41.03 30.0 27.52 20.0 19.69 10.0 0.0 2008 2009 2010 2011 2012 2013 2014 Debt…
  27. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 27
    Cana Woodford and SCOOP 28 IPAA-OGIS New York April 20-22, 2015
  28. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 28
    Cana Woodford and SCOOP Diverse mineral ownership across initial plays Interest (WI or RI) in 11% of all producing wells in the play PHX wells primarily operated by Devon, Cimarex, Continental, Newfield and XTO Current production…
  29. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 29
    Cana Woodford and SCOOP Devon, Cimarex Cana Woodford Continental, Newfield, Marathon SCOOP Woodford/Springer XTO 30 IPAA-OGIS New York April 20-22, 2015
  30. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 30
    Arkansas Fayetteville Shale 31 IPAA-OGIS New York April 20-22, 2015
  31. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 31
    Arkansas Fayetteville Shale Diverse mineral and leasehold ownership across the play Interest (WI or RI) in 24% of all producing wells in the play PHX wells primarily operated by Southwestern Energy Current production 12.5 Mmcfe…
  32. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 32
    Arkansas Fayetteville Shale SWN, XTO 33 IPAA-OGIS New York April 20-22, 2015
  33. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 33
    Eagle Ford Locator Map PHX 34 IPAA-OGIS New York April 20-22, 2015
  34. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 34
    Eagle Ford 35 IPAA-OGIS New York April 20-22, 2015
  35. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 35
    Eagle Ford Current production 706 Boepd 72 producing wells (66 Eagle Ford, 5 Pearsall and one Buda), 6 wells waiting on completion 102 additional undeveloped Eagle Ford locations Proved Reserves 77% Crude Oil, 13% NGL & 10% Natural…
  36. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 36
    PHX Eagle Ford Shale Leasehold Acreage and Active Wells 37 IPAA-OGIS New York April 20-22, 2015
  37. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 37
    Western Oklahoma Anadarko Basin 38 IPAA-OGIS New York April 20-22, 2015
  38. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 38
    PHX Drilling Activity in Western Oklahoma and the Texas Panhandle Hemphill County Ellis County Cleveland Marmaton Cleveland Apache EOG, CHK Roger Mills County Marmaton Cleveland Apache, CHK Beckham County Hogshooter…
  39. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 39
    The Panhandle Oil and Gas Advantage Broadly diversified perpetual mineral holding/growing HBP leasehold Total US mineral ownership of 255,000 acres with geographic and product diversity Substantial advantage in capital efficiency…
  40. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 40
    Southeastern Oklahoma Woodford Shale 41 IPAA-OGIS New York April 20-22, 2015
  41. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 41
    Southeastern Oklahoma Woodford Shale Diverse mineral ownership across the play Interest (WI or RI) in 17% of all producing wells in the play PHX wells primarily operated by Newfield, Devon, BP and PetroQuest Current production 4.1…
  42. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 42
    Southeastern Oklahoma Woodford Shale Current Development Area Newfield, Devon, BP, Petroquest, XTO 43 IPAA-OGIS New York April 20-22, 2015
  43. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 43
    Year-End 2014 SEC Proved Reserves 44 IPAA-OGIS New York April 20-22, 2015
  44. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 44
    Year-End 2014 Proved, Probable and Possible Reserves 45 IPAA-OGIS New York April 20-22, 2015
  45. IPAA OGIS NEW YORK – Panhandle Oil and Gas Inc. – slide 45
    PHX LISTED NYSE

From the store

Browse maps, data & reports in the Shale Experts store