Alta Mesa Holdings, LP IPAA Oil & Gas Investment Symposium New York April 2014
Alta Mesa Overview Focused Team Growing a Portfolio of High Quality Assets Established E&P company founded over 28 years ago, headquartered in Houston; AMH is led by an Sooner Trend Resource (2) experienced, committed team of…
Business Philosophy 2013 Achievements Reflect Consistent Management Philosophy Management Philosophy 2013 Performance Strong, Develop and expand a balanced portfolio of de-risked Grew reserve volumes 17% and PV10 54% Balanced…
Continuous Asset Optimization 2014 Operational Focus Legacy Asset Areas and Frontier Areas 70% of drilling capital allocated to Core Assets: Minimal CAPEX required to Eagle Ford, Weeks Island Area, Sooner Trend maintain strong free…
Significant Program Drilling Opportunities in Core Assets Systematic, Progressive, Repeatable Development of Large Resources Sooner Trend Resource 41,000 net acres in Kingfisher County, HBP; multi-year, multi-rig development…
2014 CAPEX Plan Continued Focus on High Margin Liquids Rich Projects CAPEX by Major Areas (MMs) Drilling, Completion, and Infrastructure CAPEX by Area 140 Capital Allocation 2014 capital budget 370 million 120 70% allocated to…
Operating Efficiency & Profitable Growth Production Reflects decline of Proved Reserves PV-10 (MBOE/d) 8 BCF of dry gas (MM) production in Hilltop 20 from reallocation of 1,600 capex to oil projects 18 1,400 16 1,200 14 7.6…
Consistently Effective Hedging Disciplined Price Risk Management Protects Future Revenues, Preserves Asset Option Value Commodity Price Risk Management AMH actively manages price risk for expected future production to minimize impact…
Price Risk Management Continual Process Active Management Protects Portfolio Average volumes hedged with future-year contracts (as of beginning of prompt year) YE2009 YE2010 YE2011 YE2012 1Q2014 (Prompt Year 2010) (Prompt Year 2011)…
Core Asset Operations & Opportunities
South Texas Eagle Ford Acreage position in the core of the Eagle Ford in Karnes County Overview (1)(2)(3) Karnes Acreage Position Proved Reserves 7.3 MMBOE Oil PV10 (MM) 218 Wet Gas/Condensate % Proved Developed 9% R/P 12.1x Dry Gas…
Eagle Ford 2013 Review Operational Overview 4,500 120 Efficient, high margin program drilling generating 75/BOE operating 4,000 Net Daily Production (BOEPD) margin in 2013 100 3,500 51 wells drilled Gross Well Count…
Future Eagle Ford Development Significant Upside in Downspacing and Operational Efficiencies Future Development Janysek 10H Staggered Test 40-acre proved reserves development Upper Eagle Ford 20-acre staggered spacing to be tested…
Weeks Island Area Multi-discipline application of modern technology and sound operations Overview (1)(2) Proved Reserves 8.7 MMBOE PV10 (MM) 449 % Proved Developed 67% R/P 5.9x 4Q13 Production 4,100 BOEPD % Oil (Production) 89%…
Weeks Island Area 2013 Review Operational Overview 4,500 60 18 wells drilled 4,000 Net Daily Production (BOEPD) 50 16 wells completed 3,500 Gross Well Count 3,000 40 Increased oil sales capacity with barge loading…
Weeks Island Development Generating multi-year drilling inventory and new reserves with advanced geophysics, geology, and engineering Systematic, progressive, and repeatable Definition and development of - Undrilled reservoirs -…
Weeks Island Multi-Year Drilling Inventory Example: Multiple Fault Blocks in M Sand Reservoir of Stacked-Pay East Flank 18
Sooner Trend Horizontal development of stacked pays = step change in reserves and production Overview (1) (2) Stacked Pay Development Potential Proved Reserves 17.3 MMBOE PV10 (MM) 341 % Proved Developed 46% R/P 26.5x 4Q13…
Sooner Trend 2013 Review Operational Overview 2,000 8 Gross AMH-Operated Hzl Well Count 11 horizontal wells drilled in Meramec/Mississippian Lime 1,800 7 Net Daily Production (BOEPD) Increased from 12-stage to 18-stage…
Sooner Trend Stratigraphy Mississippi, Woodford, and Hunton Focus, with Potential for Several Other Pay Zones Reservoir Sooner Trend Highlights Checkerboard Major resource targets defined below waterfloods Meramec section of…
Chester Shale Key Economic Differentiator for Alta Mesa The Chester Shale is the regional top seal for the Mississippi Lime Chester Shale acted as a barrier to keep the Pennsylvanian seas from flooding the Mississippi Lime in the Alta…
Strong Outlook for Meramec Section of Mississippi Horizontal Results Support Highly Profitable, Scalable Program 275 MBOE/Well Alta Mesa-Operated Horizontal Meramec Performance vs 275 MBOE Base Curve AMH-Operated Peak 30 IP Spud…
Meramec Drilling & Completion Economics Short Payout Periods Indicated for Program; Improving with Additional Frac Stages Alta Mesa-Operated Horizontal Meramec Well Cumulative Production 100000 Increased Frac Stages, More Recent…
Alta Mesa Established Platform for Value and Growth Geographically and geologically balanced portfolio well positioned in proven, attractive U.S. basins. Oil zones in Sooner Trend (Meramec section of Mississippi Lime, Hunton and…
Appendix
Hedge Positions Natural Gas Oil Type of Contract Index Volume in Bbls Wtg Avg. High Low Type of Contract Volume in Mmbtu Wtg Avg. High Low 2014 2014 Swap Contracts Short Swaps WTI 1,329,500 92.16 102.08 81.00 Swap Contracts Short…
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