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FEBRUARY 2015 OGIS – Panhandle Oil and Gas Inc.

Panhandle Oil and Gas Inc. · Feb 3, 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. FEBRUARY 2015 OGIS – Panhandle Oil and Gas Inc. – slide 1
    PHX LISTED NYSE
  2. FEBRUARY 2015 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 principally with the largest E&Ps Selective participation with working interest in most economically…
  3. FEBRUARY 2015 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. FEBRUARY 2015 OGIS – 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 well costs…
  5. FEBRUARY 2015 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 W.I. NRI 1.2 35 19% Lower…
  6. FEBRUARY 2015 OGIS – 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. FEBRUARY 2015 OGIS – 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. FEBRUARY 2015 OGIS – Panhandle Oil and Gas Inc. – slide 8
    PHX Revenue and Production By Source Royalty Revenue Million Working Interest Revenue Million Royalty Volume Bcfe Working Interest Volume Bcfe 90 12 80 10 70 60 8 50 6 40 30 4 20 2 10 0 0 2004 2005 2006 2007 2008 2009…
  9. FEBRUARY 2015 OGIS – Panhandle Oil and Gas Inc. – slide 9
    Financial Highlights - Fiscal 2014 CONDENSED BALANCE SHEET SEPTEMBER 3 0 , 2 0 1 4 Current assets 19,368,611 Property and equipment 429,815,954 Less accumulated DD&A (204,731,661) Net property and equipment 225,084,293 Other…
  10. FEBRUARY 2015 OGIS – Panhandle Oil and Gas Inc. – slide 10
    Financial Highlights Fiscal Year Ended September 30, 2014 FISCAL YEAR ENDED SEPTEMBER 3 0 , 2014 2013 Oil, NGL and natural gas sales 82,846,528 60,605,878 Total revenue 84,411,224 62,889,120 Net income 25,001,462 13,960,049…
  11. FEBRUARY 2015 OGIS – 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. FEBRUARY 2015 OGIS – Panhandle Oil and Gas Inc. – slide 12
    Cost Structure 7.00 6.00 Mcfe Margin 2.62 5.00 Mcfe Margin Average /Mcfe 1.44 Mcfe Margin 1.41 4.00 Mcfe Margin 0.46 3.00 G&A, .67 G&A, .60 G&A, .52 G&A, .53 LOE/ LOE/ LOE/ LOE/ Prod Tax Prod Tax Prod Tax Prod Tax…
  13. FEBRUARY 2015 OGIS – Panhandle Oil and Gas Inc. – slide 13
    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…
  14. FEBRUARY 2015 OGIS – Panhandle Oil and Gas Inc. – slide 14
    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. Fifteen-Year Share Price Growth 31 .20 05 12. 31…
  15. FEBRUARY 2015 OGIS – Panhandle Oil and Gas Inc. – slide 15
    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…
  16. FEBRUARY 2015 OGIS – Panhandle Oil and Gas Inc. – slide 16
    February 2015 Operations Update Current Environment 2015 NYMEX Futures oil prices are 45/bbl in March to 53/bbl in December NYMEX Futures oil prices dont reach 65/bbl until mid-2018 Oil resource play horizontal wells have high…
  17. FEBRUARY 2015 OGIS – Panhandle Oil and Gas Inc. – slide 17
    February 2015 Operations Update (Continued) Reaction by Operators of PHX Properties Our Eagle Ford Shale operator has elected to defer the completion of six wells drilled in the 1st quarter of 2015 and has released the drilling rig…
  18. FEBRUARY 2015 OGIS – Panhandle Oil and Gas Inc. – slide 18
    February 2015 Operations Update (Continued) PHX Assessment Panhandle plans to only participate in those wells that will earn a reasonable rate of return in the current price environment or will preserve strategic future working…
  19. FEBRUARY 2015 OGIS – 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 2015 OGIS Florida February 3, 2015
  20. FEBRUARY 2015 OGIS – 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. FEBRUARY 2015 OGIS – 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 12. 31. 200 3.3 7 1. 2 008 6.3 0. 2 008 9.3 0. 2 008 12. 31. 200 3.3 8 1. 2 009 6.3 0. 2 009 9.3 0.…
  22. FEBRUARY 2015 OGIS – Panhandle Oil and Gas Inc. – slide 22
    Year-End 2014 Reserves and Fourth Quarter 2014 Production and Revenue by Product Gas NGL Oil 100 31% 22% 20% 29% 49% 80 9% 56% 9% 60 7% 40 69% 71% 20 44% 0 Year-End Fourth Quarter Fourth Quarter 2014 2014…
  23. FEBRUARY 2015 OGIS – 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. FEBRUARY 2015 OGIS – 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. FEBRUARY 2015 OGIS – 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. FEBRUARY 2015 OGIS – 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. FEBRUARY 2015 OGIS – Panhandle Oil and Gas Inc. – slide 27
    Eagle Ford Locator Map PHX 28 2015 OGIS Florida February 3, 2015
  28. FEBRUARY 2015 OGIS – Panhandle Oil and Gas Inc. – slide 28
    Eagle Ford 29 2015 OGIS Florida February 3, 2015
  29. FEBRUARY 2015 OGIS – Panhandle Oil and Gas Inc. – slide 29
    Eagle Ford Average production October-December 2014 748 Boepd 72 producing wells (66 Eagle Ford, 5 Pearsall and one Buda), 6 wells waiting on completion 99 additional undeveloped Eagle Ford locations Proved Reserves 77% Crude Oil,…
  30. FEBRUARY 2015 OGIS – Panhandle Oil and Gas Inc. – slide 30
    PHX Eagle Ford Shale Leasehold Acreage and Active Wells 31 2015 OGIS Florida February 3, 2015
  31. FEBRUARY 2015 OGIS – Panhandle Oil and Gas Inc. – slide 31
    Western Oklahoma Anadarko Basin 32 2015 OGIS Florida February 3, 2015
  32. FEBRUARY 2015 OGIS – Panhandle Oil and Gas Inc. – slide 32
    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…
  33. FEBRUARY 2015 OGIS – Panhandle Oil and Gas Inc. – slide 33
    Cana Woodford and SCOOP 34 2015 OGIS Florida February 3, 2015
  34. FEBRUARY 2015 OGIS – Panhandle Oil and Gas Inc. – slide 34
    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…
  35. FEBRUARY 2015 OGIS – Panhandle Oil and Gas Inc. – slide 35
    Cana Woodford and SCOOP Devon, Cimarex Cana Woodford Continental, Newfield, Marathon SCOOP Woodford/Springer XTO 36 2015 OGIS Florida February 3, 2015
  36. FEBRUARY 2015 OGIS – Panhandle Oil and Gas Inc. – slide 36
    Arkansas Fayetteville Shale 37 2015 OGIS Florida February 3, 2015
  37. FEBRUARY 2015 OGIS – Panhandle Oil and Gas Inc. – slide 37
    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 14.2 Mmcfe…
  38. FEBRUARY 2015 OGIS – Panhandle Oil and Gas Inc. – slide 38
    Arkansas Fayetteville Shale SWN, XTO 39 2015 OGIS Florida February 3, 2015
  39. FEBRUARY 2015 OGIS – 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. FEBRUARY 2015 OGIS – Panhandle Oil and Gas Inc. – slide 40
    Southeastern Oklahoma Woodford Shale 41 2015 OGIS Florida February 3, 2015
  41. FEBRUARY 2015 OGIS – 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 4.0…
  42. FEBRUARY 2015 OGIS – Panhandle Oil and Gas Inc. – slide 42
    Southeastern Oklahoma Woodford Shale Current Development Area Newfield, Devon, BP, Petroquest, XTO 43 2015 OGIS Florida February 3, 2015
  43. FEBRUARY 2015 OGIS – Panhandle Oil and Gas Inc. – slide 43
    Year-End 2014 SEC Proved Reserves 44 2015 OGIS Florida February 3, 2015
  44. FEBRUARY 2015 OGIS – Panhandle Oil and Gas Inc. – slide 44
    Year-End 2014 Proved, Probable and Possible Reserves 45 2015 OGIS Florida February 3, 2015
  45. FEBRUARY 2015 OGIS – Panhandle Oil and Gas Inc. – slide 45
    PHX LISTED NYSE

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