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AUGUST 2014 INVESTOR PRESENTATION – Panhandle Oil and Gas Inc.

Panhandle Oil and Gas Inc. · Aug 10, 2014 · 40 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. AUGUST 2014 INVESTOR PRESENTATION – Panhandle Oil and Gas Inc. – slide 1
    PHX LISTED NYSE
  2. AUGUST 2014 INVESTOR PRESENTATION – Panhandle Oil and Gas Inc. – slide 2
    Panhandle Oil and Gas Inc. (PHX) Overview Unconventional business model = The Mineral Acreage Advantage Non-operator, participating with largest E&Ps in USA Selective participation with working interest in most economically attractive…
  3. AUGUST 2014 INVESTOR PRESENTATION – 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. AUGUST 2014 INVESTOR PRESENTATION – Panhandle Oil and Gas Inc. – slide 4
    PHX Business Model Lower Risk, Higher Returns Direct Ownership Of Mineral Rights = THE MINERAL A CREAGE A DVANTAGE PHX mineral acreage has extremely low cost basis (approximately 90/acre) Minerals ownership lowers PHX cost verses…
  5. AUGUST 2014 INVESTOR PRESENTATION – Panhandle Oil and Gas Inc. – slide 5
    THE MINERAL ACREAGE ADVANTAGE (Economic Impact of Working Interest Participation on Mineral Acres) Typical Fayetteville Shale Well Finding Cost, /Mcfe Rate of Return, % (BTAX) 45 1.4 ASSUMPTIONS: 19% Lower 55% Higher 40 W.I. NRI…
  6. AUGUST 2014 INVESTOR PRESENTATION – Panhandle Oil and Gas Inc. – slide 6
    PHX Business Model Lower Risk, Higher Returns Non-operated Drilling Program = Use Mineral Ownership As Leverage Large mineral acreage ownership position provides diversity in drilling projects without additional acreage costs Leveraged…
  7. AUGUST 2014 INVESTOR PRESENTATION – Panhandle Oil and Gas Inc. – slide 7
    PHX Business Model Diversified Revenue Sources 70% 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. AUGUST 2014 INVESTOR PRESENTATION – Panhandle Oil and Gas Inc. – slide 8
    Financial Highlights - Fiscal 2014 Condensed Balance Sheet June 30, 2014 Current assets 24,163,489 Property and equipment 419,666,338 Less accumulated DD&A (198,439,791) Net property and equipment 221,226,547 Other 1,813,251 Total…
  9. AUGUST 2014 INVESTOR PRESENTATION – Panhandle Oil and Gas Inc. – slide 9
    Financial Highlights Nine Months Ended June 30, 2014 Nine Months Ended June 30, 2014 2013 Oil, NGL and natural gas sales 59,115,928 42,686,935 Total revenue 56,523,778 44,492,866 Net income 15,703,476 8,240,953 Earnings per share…
  10. AUGUST 2014 INVESTOR PRESENTATION – Panhandle Oil and Gas Inc. – slide 10
    Price Risk Mitigation Through Hedging Period Volume/Month Costless Collars Gas July - Dec 2014 140,000 mmbtu 3.75 - 4.50 Oil Jan Dec 2014 4,000 bbls 85.00 - 100.00 Oil July - Dec 2014 5,000 bbls 90.00 - 97.00 Swap Price Gas July -…
  11. AUGUST 2014 INVESTOR PRESENTATION – Panhandle Oil and Gas Inc. – slide 11
    Cost Structure 7.00 6.00 Mcfe Margin 5.00 2.56 Average /Mcfe Mcfe Margin 1.44 Mcfe Margin Mcfe Margin 1.41 4.00 0.46 3.00 G&A, .67 G&A, .60 G&A, .52 G&A, .52 LOE/ LOE/ LOE/ LOE/ Prod Tax Prod Tax Prod Tax Prod…
  12. AUGUST 2014 INVESTOR PRESENTATION – Panhandle Oil and Gas Inc. – slide 12
    Asset Pyramid Non-proved undeveloped reserves on fee mineral acres, Fayetteville Shale, Woodford Shales and Western Probable Oklahoma/Texas Panhandle horizontal oil plays and Possible (superior economics due to royalty retention)…
  13. AUGUST 2014 INVESTOR PRESENTATION – Panhandle Oil and Gas Inc. – slide 13
    Panhandles Mineral Acreage Strategy Results Allows the Company to generate positive financial results, even during low natural gas price environments Ability to maximize return on Company assets through working interest…
  14. AUGUST 2014 INVESTOR PRESENTATION – Panhandle Oil and Gas Inc. – slide 14
    Current Operating Highlights Rate of Return/Value Creation driven investment philosophy Oil & NGL focused 2014 YTD drilling capital commitments Eagle Ford Shale 29% Western Oklahoma/Texas Panhandle oil 33% Cana Woodford NGL and…
  15. AUGUST 2014 INVESTOR PRESENTATION – Panhandle Oil and Gas Inc. – slide 15
    Eagle Ford Acquisition Locator Map PHX 16 August 2014 Investor Presentation
  16. AUGUST 2014 INVESTOR PRESENTATION – Panhandle Oil and Gas Inc. – slide 16
    Eagle Ford Acquisition Highlights 80.4 million purchase price includes existing production, leasehold and 113 undeveloped Eagle Ford locations Located in the core of the Eagle Ford Shale oil window in La Salle and Frio Counties,…
  17. AUGUST 2014 INVESTOR PRESENTATION – Panhandle Oil and Gas Inc. – slide 17
    Mineral Holdings Significant Mineral Acreage Holdings 120 Net Acres (Thousands) 100 80 60 40 20 0 18 OK NM TX ND AR Leasehold August 2014 Investor Presentation
  18. AUGUST 2014 INVESTOR PRESENTATION – Panhandle Oil and Gas Inc. – slide 18
    Reserve Statistics Exceptional Reserve Growth Proved reserves at Mid-Year 2014 Proved reserves increased to 159.0 Bcfe SEC Flat Pricing PV10 - 207.5 million (3.72/Mcf, 94.95/Bo & 27.99/Bngl wellhead) NYMEX Futures Pricing PV10 -…
  19. AUGUST 2014 INVESTOR PRESENTATION – Panhandle Oil and Gas Inc. – slide 19
    MCFE 1,000,000 1,500,000 2,000,000 2,500,000 3,000,000 3,500,000 4,000,000 500,000 0 12. 31. 200 7 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 GAS 9.3 0.…
  20. AUGUST 2014 INVESTOR PRESENTATION – Panhandle Oil and Gas Inc. – slide 20
    Mid-Year 2014 Reserves and Third Quarter 2014 Production and Revenue by Product Gas NGL Oil 100 6% 12.8% 14% 8% 24.2% 80 11.4% 46.1% 35.3% 60 10.8% 40 86% 75.8% 53.9% 20 0 Mid-Year Third Quarter Third Quarter…
  21. AUGUST 2014 INVESTOR PRESENTATION – Panhandle Oil and Gas Inc. – slide 21
    Unit Costs Per MCFE DD&A LOE/Prod Tax G&A 8.00 7.00 6.00 5.00 Total 4.51 Total /Mcfe 4.24 Total 0.65 3.87 4.00 0.49 Total Total 3.43 Total 0.63 3.40 3.27 1.30 0.90 3.00 0.67 0.60 0.52 1.08 1.11 1.00 1.06…
  22. AUGUST 2014 INVESTOR PRESENTATION – Panhandle Oil and Gas Inc. – slide 22
    Annual Production Per Debt Adjusted Share Gas-Mcf Oil & NGL Mcfe Gross Producing Wells 2.00 7,000 1.80 6,105 6,000 5,666 1.60 5,107 Total 4,989 1.50 Gross Producing Wells 4,861 5,000 1.40 0.24 4,593 Total…
  23. AUGUST 2014 INVESTOR PRESENTATION – Panhandle Oil and Gas Inc. – slide 23
    Proved Reserves Per Debt Adjusted Share Proved Developed Reserves Per Share Proved Undeveloped Reserves Per Share 24.00 22.00 20.00 Total 18.00 17.56 Mcfe/Share 6.79 16.00 Total Total 14.09 14.00 Total 13.30 12.31…
  24. AUGUST 2014 INVESTOR PRESENTATION – Panhandle Oil and Gas Inc. – slide 24
    3P Undeveloped Reserves Per Debt Adjusted Share Reserves per Share 70.0 60.0 50.0 Mcfe/Share 49.92 40.0 41.03 41.63 38.99 30.0 27.52 20.0 19.69 10.0 0.0 2008 2009 2010 2011 2012 2013 Debt Adjusted Shares…
  25. AUGUST 2014 INVESTOR PRESENTATION – Panhandle Oil and Gas Inc. – slide 25
    Western Oklahoma Anadarko Basin 26 August 2014 Investor Presentation
  26. AUGUST 2014 INVESTOR PRESENTATION – Panhandle Oil and Gas Inc. – slide 26
    PHX Drilling Activity in Western Oklahoma and the Texas Panhandle Hemphill County Ellis County Cleveland Marmaton Apache Cleveland EOG, CHK Roger Mills County Marmaton Cleveland Apache, CHK Beckham County Hogshooter…
  27. AUGUST 2014 INVESTOR PRESENTATION – Panhandle Oil and Gas Inc. – slide 27
    Anadarko & Ardmore Basin Woodford Shales 28 August 2014 Investor Presentation
  28. AUGUST 2014 INVESTOR PRESENTATION – Panhandle Oil and Gas Inc. – slide 28
    Anadarko & Ardmore Basin Woodford Shales 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 and XTO Current…
  29. AUGUST 2014 INVESTOR PRESENTATION – Panhandle Oil and Gas Inc. – slide 29
    Anadarko Basin Cana Woodford Shale Core Core Development Area Devon, Cimarex 30 August 2014 Investor Presentation
  30. AUGUST 2014 INVESTOR PRESENTATION – Panhandle Oil and Gas Inc. – slide 30
    Southern Anadarko Basin and Ardmore Basin Woodford Continental, Newfield, Marathon XTO 31 August 2014 Investor Presentation
  31. AUGUST 2014 INVESTOR PRESENTATION – Panhandle Oil and Gas Inc. – slide 31
    Arkansas Fayetteville Shale 32 August 2014 Investor Presentation
  32. AUGUST 2014 INVESTOR PRESENTATION – Panhandle Oil and Gas Inc. – slide 32
    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 13.3 Mmcfe…
  33. AUGUST 2014 INVESTOR PRESENTATION – Panhandle Oil and Gas Inc. – slide 33
    Arkansas Fayetteville Shale SWN, XTO 34 August 2014 Investor Presentation
  34. AUGUST 2014 INVESTOR PRESENTATION – Panhandle Oil and Gas Inc. – slide 34
    The Panhandle Oil and Gas Advantage Broadly diversified perpetual mineral holding Total US mineral ownership of 255,000 acres with geographic and product diversity Substantial advantage in capital efficiency due to mineral…
  35. AUGUST 2014 INVESTOR PRESENTATION – Panhandle Oil and Gas Inc. – slide 35
    Southeastern Oklahoma Woodford Shale 36 August 2014 Investor Presentation
  36. AUGUST 2014 INVESTOR PRESENTATION – Panhandle Oil and Gas Inc. – slide 36
    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 4.2…
  37. AUGUST 2014 INVESTOR PRESENTATION – Panhandle Oil and Gas Inc. – slide 37
    Southeastern Oklahoma Woodford Shale Current Development Area Newfield, Devon, BP, Petroquest, XTO 38 August 2014 Investor Presentation
  38. AUGUST 2014 INVESTOR PRESENTATION – Panhandle Oil and Gas Inc. – slide 38
    Year-End 2013 SEC Proved Reserves SEC Proved Reserves by Reserve Category PDNP 2.1 Bcfe 1.4% PUD 58.7 Bcfe PDP 38.7% 91.0 Bcfe 59.9% 151.8 Bcfe 39 August 2014 Investor Presentation
  39. AUGUST 2014 INVESTOR PRESENTATION – Panhandle Oil and Gas Inc. – slide 39
    Year-End 2013 Proved, Probable and Possible Reserves Proved, Probable and Possible Proved, Probable and Possible Reserves by Reserve Category Reserves by Field All Other Western Fields Oklahoma, 23.6 Bcfe Texas 4.5% Anadarko…
  40. AUGUST 2014 INVESTOR PRESENTATION – Panhandle Oil and Gas Inc. – slide 40
    PHX LISTED NYSE

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