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APRIL 2014 IPAA OGIS – Panhandle Oil and Gas Inc.

Panhandle Oil and Gas Inc. · Apr 7, 2014 · 39 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. APRIL 2014 IPAA OGIS – Panhandle Oil and Gas Inc. – slide 1
    PHX LISTED NYSE
  2. APRIL 2014 IPAA OGIS – 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. APRIL 2014 IPAA OGIS – 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. APRIL 2014 IPAA OGIS – Panhandle Oil and Gas Inc. – slide 4
    PHX Business Model Lower Risk, Higher Returns Direct o wnership o f mineral rights = The Mineral Acreage Advantage 255,300 acres held across 10 states PHX mineral acreage has extremely low cost basis (90/acre) Minerals ownership…
  5. APRIL 2014 IPAA OGIS – 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: 40 19% Lower W.I. NRI 1.2 1.11…
  6. APRIL 2014 IPAA OGIS – Panhandle Oil and Gas Inc. – slide 6
    PHX Business Model Lower Risk, Higher Returns N o n-o perated drilling pro gram = use mineral o wnership as leverage Majority of working interest drilling is on perpetually-owned fee mineral acres Large mineral acreage ownership…
  7. APRIL 2014 IPAA OGIS – 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. APRIL 2014 IPAA OGIS – Panhandle Oil and Gas Inc. – slide 8
    Financial Highlights - Fiscal 2014 Condensed Balance Sheet December 31, 2013 Current assets 15,847,014 Property and equipment 324,095,384 Less accumulated DD&A (191,820,197) Net property and equipment 132,275,187 Other 2,103,523…
  9. APRIL 2014 IPAA OGIS – Panhandle Oil and Gas Inc. – slide 9
    Financial Highlights Three Months Ended December 31, 2013 Three Months Ended December 31, 2013 2012 Oil, NGL and natural gas sales 18,473,082 12,758,954 Total revenue 18,396,756 14,180,435 Net income 4,926,318 2,148,298 Earnings…
  10. APRIL 2014 IPAA OGIS – 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 Gas Nov 2013 - Apr 2014 160,000 mmbtu 4.00 - 4.55 Gas Jan - June 2014 40,000 mmbtu 3.25 - 3.90 Gas Jan - June…
  11. APRIL 2014 IPAA OGIS – Panhandle Oil and Gas Inc. – slide 11
    Cost Structure 6.00 5.00 Mcfe Margin Mcfe Margin Mcfe Margin 2.11 4.00 1.44 1.41 Mcfe Margin 0.46 /Mcfe 3.00 G&A, 0.67 G&A, 0.60 G&A, 0.52 G&A, 0.53 LOE/Prod Tax LOE/Prod Tax LOE/Prod Tax 1.00 LOE/Prod Tax 1.11 1.06…
  12. APRIL 2014 IPAA OGIS – Panhandle Oil and Gas Inc. – slide 12
    Asset Pyramid Non-proved undeveloped reserves on fee mineral acres, Probable Fayetteville Shale, Woodford Shales and Granite Wash and (superior economics due to royalty retention) Possible Reserves 6,105 producing wells, 60% of…
  13. APRIL 2014 IPAA OGIS – 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. APRIL 2014 IPAA OGIS – Panhandle Oil and Gas Inc. – slide 14
    Cumulative 5-Year Return on Common Stock COMPARISON OF 5 YEAR CUMULATIVE TOTAL RETURN* Among Panhandle Oil & Gas Inc, the S&P Smallcap 600 Index, and the S&P Oil & Gas Exploration & Production Index 300 250 200 150…
  15. APRIL 2014 IPAA OGIS – Panhandle Oil and Gas Inc. – slide 15
    Current Operating Highlights Rate of Return/Value Creation driven investment philosophy Oil focused 2014 YTD drilling capital commitments Western Oklahoma/Texas Panhandle oil 39% Southern Oklahoma Woodford oil 15% Permian Basin oil…
  16. APRIL 2014 IPAA OGIS – Panhandle Oil and Gas Inc. – slide 16
    Mineral Holdings Significant Mineral Acreage Holdings 120 Net Acres (Thousands) 100 80 60 40 20 0 OK NM TX ND AR Leasehold 17 IPAA-OGIS New York, April 7-9, 2014
  17. APRIL 2014 IPAA OGIS – Panhandle Oil and Gas Inc. – slide 17
    Reserve Statistics Ex ceptio nal Reserve Gro wth Proved reserves at Year-End 2013 Proved reserves increased to 151.8 Bcfe SEC Flat Pricing PV10 - 176.5 million (3.33/Mcf, 89.06/Bo & 27.28/Bngl wellhead) NYMEX Futures Pricing PV10 -…
  18. APRIL 2014 IPAA OGIS – Panhandle Oil and Gas Inc. – slide 18
    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 GAS 009 9.3 0.…
  19. APRIL 2014 IPAA OGIS – Panhandle Oil and Gas Inc. – slide 19
    Year-End 2013 Reserves and First Quarter 2014 Production and Revenue by Product Gas NGL Oil 100 7% 13% 20.6% 14.3% 6% 80 6.3% 48.6% 42.3% 60 6.3% 87% 40 79.4% 51.4% 20 0 Year-End First Quarter First Quarter 2013…
  20. APRIL 2014 IPAA OGIS – Panhandle Oil and Gas Inc. – slide 20
    Unit Costs Per MCFE DD&A LOE/Prod Tax G&A 8.00 7.00 6.00 Total 5.00 4.51 Total /Mcfe 4.24 Total 0.65 3.87 Total Total 4.00 0.49 3.43 Total 3.40 3.27 0.63 1.30 0.90 3.00 0.67 0.60 0.52 1.08 1.11 1.00 1.06…
  21. APRIL 2014 IPAA OGIS – Panhandle Oil and Gas Inc. – slide 21
    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 Gross Producing Wells 4,989 1.50 1.40 4,861 5,000 4,593 0.24 Total…
  22. APRIL 2014 IPAA OGIS – Panhandle Oil and Gas Inc. – slide 22
    Proved Reserves Per Debt Adjusted Share Proved Developed Reserves Per Share Proved Undeveloped Reserves Per Share 24.00 22.00 20.00 Total 17.56 18.00 Mcfe/Share Total 6.79 16.00 Total 14.09 14.00 Total 13.30 12.31…
  23. APRIL 2014 IPAA OGIS – Panhandle Oil and Gas Inc. – slide 23
    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…
  24. APRIL 2014 IPAA OGIS – Panhandle Oil and Gas Inc. – slide 24
    Western Oklahoma Anadarko Basin 25 IPAA-OGIS New York, April 7-9, 2014
  25. APRIL 2014 IPAA OGIS – Panhandle Oil and Gas Inc. – slide 25
    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…
  26. APRIL 2014 IPAA OGIS – Panhandle Oil and Gas Inc. – slide 26
    Anadarko & Ardmore Basin Woodford Shales 27 IPAA-OGIS New York, April 7-9, 2014
  27. APRIL 2014 IPAA OGIS – Panhandle Oil and Gas Inc. – slide 27
    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…
  28. APRIL 2014 IPAA OGIS – Panhandle Oil and Gas Inc. – slide 28
    Anadarko Basin Cana Woodford Shale Core Core Development Area Devon, Cimarex 29 IPAA-OGIS New York, April 7-9, 2014
  29. APRIL 2014 IPAA OGIS – Panhandle Oil and Gas Inc. – slide 29
    Southern Anadarko Basin and Ardmore Basin Woodford Continental, Newfield, Marathon XTO 30 IPAA-OGIS New York, April 7-9, 2014
  30. APRIL 2014 IPAA OGIS – Panhandle Oil and Gas Inc. – slide 30
    Arkansas Fayetteville Shale 31 IPAA-OGIS New York, April 7-9, 2014
  31. APRIL 2014 IPAA OGIS – 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 13.2 Mmcfe per…
  32. APRIL 2014 IPAA OGIS – Panhandle Oil and Gas Inc. – slide 32
    Arkansas Fayetteville Shale SWN, XTO 33 IPAA-OGIS New York, April 7-9, 2014
  33. APRIL 2014 IPAA OGIS – Panhandle Oil and Gas Inc. – slide 33
    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 ownership…
  34. APRIL 2014 IPAA OGIS – Panhandle Oil and Gas Inc. – slide 34
    Southeastern Oklahoma Woodford Shale 35 IPAA-OGIS New York, April 7-9, 2014
  35. APRIL 2014 IPAA OGIS – Panhandle Oil and Gas Inc. – slide 35
    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 4.6…
  36. APRIL 2014 IPAA OGIS – Panhandle Oil and Gas Inc. – slide 36
    Southeastern Oklahoma Woodford Shale Current Development Area Newfield, Devon, BP, Petroquest, XTO 37 IPAA-OGIS New York, April 7-9, 2014
  37. APRIL 2014 IPAA OGIS – Panhandle Oil and Gas Inc. – slide 37
    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 38 IPAA-OGIS New York, April 7-9, 2014
  38. APRIL 2014 IPAA OGIS – Panhandle Oil and Gas Inc. – slide 38
    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…
  39. APRIL 2014 IPAA OGIS – Panhandle Oil and Gas Inc. – slide 39
    PHX LISTED NYSE

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