Alta Mesa Holdings, LP Alta Mesa Holdings, LP Pritchard Capital Energize 2012 January 2012 Confidential
Alta Mesa Overview High Quality & Diversified Asset Portfolio Core Operating Areas Corporate Overview Privately held company, founded in 1987, engaged in onshore conventional oil and gas acquisition, exploitation, exploration and…
LowRisk Business Model We create value in underdeveloped and overlooked areas with the following characteristics Attractive Economics Proven Geology Multiple Pay Zones Repeatability Control Over Pace of Development Available…
Alta Mesas Focus Areas Oklahoma East Texas Reserves 44 BCFE Reserves 63 BCFE PV10 (MM) 129.2 PV10 (MM) 153.9 % Gas (Reserves) 46% % Gas (Reserves) 74% % Proved Developed 62% % Proved Developed 84% R/P 19.9x R/P 11.2x Q3 2011…
Proved Reserves Proved Reserves by Type (Bcfe) Annual Reserve Additions as a % of Production1 900% 66% of Proved Reserves Purchases are Developed 800% Extensions PDP 700% 120 BCFE 37% 600% PUD Average Annual Reserve Replacement…
East Texas Overview Increasing Reserves and Production from Established Fields Overview1 East Texas Assets Map Proved Reserves 63 BCFE PV10 (MM) 153.9 % Gas (Reserves) 74% % Proved Developed 84% R/P 11.2x Q3 2011 Production 15.3…
Urbana and Cold Springs Field Urbana Overview Urbana 3P EUR (Bcfe) Reserves (BCF) Cum EUR* Milestones Known structure with multiple pay zones Field redevelopment since buying Famcor WI 1951 Cumulative to Date 0 0 Wilcox Discovery…
East Texas Hilltop Large Position in a Highly Prolific, Expanding Play Overview1 Oil Zones Actively Being Pursued Along Trend Proved Reserves 93 BCFE Permitted HZL Wells1 (Since January 1, 2010) PV10 (MM) 111.9 Producing HZL Wells1…
Prolific, Low Cost Gas Play Additional potential in other zones and application of horizontal drilling Hilltop Net Production by Operator (MMcf/d) Major North American Gas Basin Breakevens1 60 8.00 6.87 50 7.00 6.65 6.76…
Oklahoma Current Activity Longlived, Stable Oil Production Overview1 Oklahoma Activity Map Proved Reserves 7.3 MMBOE ReDrill PV10 (MM) 129.2 Locations % Gas (Reserves) 46% % Proved Developed 62% R/P 19.9x East Hennessey Q3…
Oklahoma Production Growth Oklahoma Assets Producing at MultiDecade High Historic 8/8ths Field Production (BOEPD) 1,800 1,600 1,400 1,200 1,000 800 Wedge Equates to 4 MMBOE of added production since AMH took over…
Regional Development of Mississippian Formation AMH Currently Identifying and Testing Mississippi Locations on its Acreage Wells Targeting Mississippian Formation AMH Acreage 14
Eagle Ford Shale Overview Significant Acreage Position Concentrated in Karnes County Overview1 Eagle Ford Map Proved Reserves 0.6 MMBOE AMH / Murphy PV10 (MM) 13.2 Conoco % Gas (Reserves) 13% Marathon % Proved Developed 52% EOG…
Eagle Ford Shale Maximizing EUR and Profitability Production and EUR highly sensitive to drawdown Early EFS wells exhibit severe well damage from high drawdown Theoretically, high drawdown may be collapsing the near well bore frac…
South Louisiana Overview Historically Prolific Area Originally Developed by Majors Overview1,2 South Louisiana Assets Proved Reserves 76 BCFE PV10 (MM) 229.2 % Gas (Reserves) 72% % Proved Developed 74% R/P 6.1x Q3 2011 Production…
Weeks Island Overview High Value Oil Field with Significant Upside Potential Overview1 Weeks Island: Multiple Oil Pay Zones Proved Reserves 3.0 MMBOE PV10 (MM) 81.1 % Gas (Reserves) 30% % Proved Developed 57% R/P 4.9x Q3 2011…
2011 CAPEX Forecast Projected Annual CAPEX Planned Drilling & Recompletion CAPEX by Field (000s) 200 50 180 180 160 45 Annual CAPEX ( in Millions) 144 140 40 120 Deep Bossier 100 35 Eagle Ford 2011 Expected CAPEX…
2012 CAPEX Plan Continued Focus on High Margin Liquids Rich Projects Manage to cash flow neutral position, with total Capex for the year expected to range between 220 and 240 million Significant HBP positions in core areas allow…
Production Shift from Gas to Oil Oil Production is Expected to Grow from 14% of Production to 40% Over Next 18 Months Historic and Projected Production Mix Future Oil Growth Driven by Weeks Island and Eagle Ford 100% 100% Material…
Management of Commodity Price Risk Balance Sheet Protection, Active Management of Portfolio Costeffectively limit downside risk, while minimizing cash outlays Active management across a fiveyear window Tactically switching portion of…
Commodity Price Risk Management % of PDP Hedged Natural Gas Average Floor Price Natural Gas 120% 6.50 6.23 5.91 6.00 5.80 100% 5.50 5.50 5.27 5.25 % PDP Gas Hedged 80% 5.00 60% 113% 4.50 40% 85% 4.00 54% 20% 46%…
LLS Basis Trading at Premium to WTI 69% of Q3 oil production indexed against LLS, resulting in 12.51 spread to WTI Historic and Forward LLS vs WTI Spread 160 30 WTI LLS 140 LLS (Forecast) 25 WTI (Forecast) Spread 120 Spread…
Key Considerations Strong Average 25+ years industry and technical experience Management Team Successfully completed over 250mm of acquisitions at 1.27/mcfe1 with Proven Since 2007, increased proved reserves and production at 40% and…
Contact Information Hal Chappelle, President & CEO Phone: 2819431353 Email: hchappellealtamesa.net Michael McCabe, Vice President & CFO Phone: 2815300991 Email: mmcabealtamesa.net Lance Weaver, Director of Investor Relations…
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