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Midwest IDEAS Investor Conference 2015 – Panhandle Oil and Gas Inc.

Panhandle Oil and Gas Inc. · Aug 26, 2015 · 47 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. Midwest IDEAS Investor Conference 2015 – Panhandle Oil and Gas Inc. – slide 1
    PHX LISTED NYSE
  2. Midwest IDEAS Investor Conference 2015 – 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. Midwest IDEAS Investor Conference 2015 – 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. Midwest IDEAS Investor Conference 2015 – Panhandle Oil and Gas Inc. – slide 4
    PHX Business Model Lower Risk, Higher Returns DIRECT O WNERSHIP O F 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. Midwest IDEAS Investor Conference 2015 – Panhandle Oil and Gas Inc. – slide 5
    PHX Business Model Lower Risk, Higher Returns N ON -O PERATED DRILLING PROGRAM = U SE MINERAL O WNERSHIP A S LEVERAGE Large mineral acreage ownership position provides diversity in drilling projects without additional acreage costs…
  6. Midwest IDEAS Investor Conference 2015 – Panhandle Oil and Gas Inc. – slide 6
    THE MINERAL ACREAGE ADVANTAGE (Economic Impact of Working Interest Participation on Mineral Acres) Typical Fayetteville Shale Well Finding Cost, /Mcfe Rate of Return, % (BTAX) 1.6 30 ASSUMPTIONS: 1.4 25 W.I. NRI 1.2 22% PHX…
  7. Midwest IDEAS Investor Conference 2015 – Panhandle Oil and Gas Inc. – slide 7
    PHX Business Model Diversified Revenue Sources 74% 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. Midwest IDEAS Investor Conference 2015 – Panhandle Oil and Gas Inc. – slide 8
    Royalty Production and Revenue History 50 6.00 Royalty Volume Bcfe Royalty Revenue Million 5.50 45 PHX has over 4,000 identified undeveloped locations and over 185,000 open 5.00 40 mineral acres available to feed continued royalty…
  9. Midwest IDEAS Investor Conference 2015 – Panhandle Oil and Gas Inc. – slide 9
    Financial Highlights - Fiscal 2015 CONDENSED BALANCE SHEET JUNE 3 0 , 2 0 1 5 Current assets 16,565,462 Property and equipment 448,844,281 Less accumulated DD&A (222,231,830) Net property and equipment 226,612,451 Other 2,087,629…
  10. Midwest IDEAS Investor Conference 2015 – Panhandle Oil and Gas Inc. – slide 10
    Financial Highlights Fiscal Third Quarter 2015 N INE MONTHS ENDED JUNE 3 0 , 2015 2014 Oil, NGL and natural gas sales 43,400,839 59,115,928 Total revenue (1) 57,427,092 56,523,778 Net income 10,209,022 15,703,476 Earnings per share…
  11. Midwest IDEAS Investor Conference 2015 – Panhandle Oil and Gas Inc. – slide 11
    Price Risk Mitigation Through Hedging DURATION MONTHLY VOLUME PRICES Gas Jan-Dec 2015 100,000 mmbtu 3.50 floor/4.10 ceiling Jan-Dec 2015 70,000 mmbtu 3.25 floor/4.00 ceiling May-Oct 2015 70,000 mmbtu 3.50 floor/3.95 ceiling…
  12. Midwest IDEAS Investor Conference 2015 – Panhandle Oil and Gas Inc. – slide 12
    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…
  13. Midwest IDEAS Investor Conference 2015 – Panhandle Oil and Gas Inc. – slide 13
    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. 31 .20 05 12. 31 .20 06 12. 31 .20 07 12. 31…
  14. Midwest IDEAS Investor Conference 2015 – Panhandle Oil and Gas Inc. – slide 14
    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…
  15. Midwest IDEAS Investor Conference 2015 – Panhandle Oil and Gas Inc. – slide 15
    August 2015 Operations Update Current Industry Backdrop Oil and natural gas prices remain below replacement value and futures remain relatively low Service cost declines have not kept pace with the product price drop U.S. oil and…
  16. Midwest IDEAS Investor Conference 2015 – Panhandle Oil and Gas Inc. – slide 16
    August 2015 Operations Update PHX Strategy Maintain discipline and consistent long term corporate and investment philosophies throughout commodity price cycles Only participate in wells/projects that we believe will earn reasonable…
  17. Midwest IDEAS Investor Conference 2015 – Panhandle Oil and Gas Inc. – slide 17
    August 2015 Operations Update Current PHX Operations Our first quarter of fiscal year 2015 (Oct- Dec 2014) capital expenditures reflect the much higher product price environment of that time The second and third quarter FY 2015…
  18. Midwest IDEAS Investor Conference 2015 – Panhandle Oil and Gas Inc. – slide 18
    August 2015 Operations Update (Continued) Current PHX Operations Our current drilling and completion investment activity is in 1) the SCOOP Woodford and Springer play in south central Oklahoma where operators continue to drill to hold…
  19. Midwest IDEAS Investor Conference 2015 – Panhandle Oil and Gas Inc. – slide 19
    Mineral Holdings Significant Mineral Acreage Holdings 120 Net Acres (Thousands) 100 80 60 40 20 0 OK NM TX ND AR Leasehold 20 Midwest Ideas Investor Conference Chicago, IL, August 26, 2015
  20. Midwest IDEAS Investor Conference 2015 – Panhandle Oil and Gas Inc. – slide 20
    Reserve Statistics Proved reserves at Mid-Year 2015 Proved developed reserves increased slightly to 116.1 Bcfe as compared to YE 2014 of 115.2 Bcfe PUD reserves declined to 77.7 Bcfe or 40% of total proved reserves. The Company…
  21. Midwest IDEAS Investor Conference 2015 – 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 3.3 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. 2 009 12.…
  22. Midwest IDEAS Investor Conference 2015 – Panhandle Oil and Gas Inc. – slide 22
    Mid-Year 2015 Reserves and Nine Months Production and Revenue by Product Gas NGL Oil 120 100 22% 20% 31% 29% 80 44% 9% 9% 51% 60 7% 40 69% 71% 49% 20 0 Mid-Year Nine Months Nine Months 2015 2015 2015 SEC…
  23. Midwest IDEAS Investor Conference 2015 – 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. Midwest IDEAS Investor Conference 2015 – 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 5,666 Total 1.60 1.63 Total 5,107 1.50 5,000 1.40 4,989 0.38 4,861 Total 0.24 Gross Producing…
  25. Midwest IDEAS Investor Conference 2015 – 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. Midwest IDEAS Investor Conference 2015 – 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. Midwest IDEAS Investor Conference 2015 – Panhandle Oil and Gas Inc. – slide 27
    Material Lease Out of Panhandle Permian Basin Minerals Locator Map 28 Midwest Ideas Investor Conference Chicago, IL, August 26, 2015
  28. Midwest IDEAS Investor Conference 2015 – Panhandle Oil and Gas Inc. – slide 28
    Material Lease Out of Panhandle Permian Basin Minerals Panhandle leased out 2440 contiguous net mineral acres in Andrews and Winkler Counties, Texas. The lease covers a 45 square mile area The block has multiple well, stacked pay…
  29. Midwest IDEAS Investor Conference 2015 – Panhandle Oil and Gas Inc. – slide 29
    Cana Woodford and SCOOP 30 Midwest Ideas Investor Conference Chicago, IL, August 26, 2015
  30. Midwest IDEAS Investor Conference 2015 – Panhandle Oil and Gas Inc. – slide 30
    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…
  31. Midwest IDEAS Investor Conference 2015 – Panhandle Oil and Gas Inc. – slide 31
    Cana Woodford and SCOOP Devon, Cimarex Cana Woodford Continental, Newfield, Marathon SCOOP Woodford/Springer XTO 32 Midwest Ideas Investor Conference Chicago, IL, August 26, 2015
  32. Midwest IDEAS Investor Conference 2015 – Panhandle Oil and Gas Inc. – slide 32
    Arkansas Fayetteville Shale 33 Midwest Ideas Investor Conference Chicago, IL, August 26, 2015
  33. Midwest IDEAS Investor Conference 2015 – Panhandle Oil and Gas Inc. – slide 33
    Arkansas Fayetteville Shale Diverse mineral and leasehold ownership across the play Interest (WI or RI) in 23% of all producing wells in the play PHX wells primarily operated by Southwestern Energy Current production 12.0 Mmcfe…
  34. Midwest IDEAS Investor Conference 2015 – Panhandle Oil and Gas Inc. – slide 34
    Arkansas Fayetteville Shale SWN, XTO 35 Midwest Ideas Investor Conference Chicago, IL, August 26, 2015
  35. Midwest IDEAS Investor Conference 2015 – Panhandle Oil and Gas Inc. – slide 35
    Eagle Ford Locator Map PHX 36 Midwest Ideas Investor Conference Chicago, IL, August 26, 2015
  36. Midwest IDEAS Investor Conference 2015 – Panhandle Oil and Gas Inc. – slide 36
    Eagle Ford 37 Midwest Ideas Investor Conference Chicago, IL, August 26, 2015
  37. Midwest IDEAS Investor Conference 2015 – Panhandle Oil and Gas Inc. – slide 37
    Eagle Ford Current production 588 Boepd 70 producing wells (64 Eagle Ford, 5 Pearsall and one Buda), 5 wells completing and 1 well waiting on completion 102 additional undeveloped Eagle Ford locations Proved Reserves 77% Crude Oil,…
  38. Midwest IDEAS Investor Conference 2015 – Panhandle Oil and Gas Inc. – slide 38
    PHX Eagle Ford Shale Leasehold Acreage and Active Wells 39 Midwest Ideas Investor Conference Chicago, IL, August 26, 2015
  39. Midwest IDEAS Investor Conference 2015 – Panhandle Oil and Gas Inc. – slide 39
    Western Oklahoma Anadarko Basin 40 Midwest Ideas Investor Conference Chicago, IL, August 26, 2015
  40. Midwest IDEAS Investor Conference 2015 – Panhandle Oil and Gas Inc. – slide 40
    PHX Drilling Activity in Western Oklahoma and the Texas Panhandle Hemphill County Ellis County Cleveland Marmaton Cleveland Apache EOG, CHK Roger Mills County Marmaton Cleveland Apache, CHK Beckham County Hogshooter…
  41. Midwest IDEAS Investor Conference 2015 – Panhandle Oil and Gas Inc. – slide 41
    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…
  42. Midwest IDEAS Investor Conference 2015 – Panhandle Oil and Gas Inc. – slide 42
    Southeastern Oklahoma Woodford Shale 43 Midwest Ideas Investor Conference Chicago, IL, August 26, 2015
  43. Midwest IDEAS Investor Conference 2015 – Panhandle Oil and Gas Inc. – slide 43
    Southeastern Oklahoma Woodford Shale Diverse mineral ownership across the play Interest (WI or RI) in 16% of all producing wells in the play PHX wells primarily operated by Newfield, Devon, BP and PetroQuest Current production 3.4…
  44. Midwest IDEAS Investor Conference 2015 – Panhandle Oil and Gas Inc. – slide 44
    Southeastern Oklahoma Woodford Shale Current Development Area Newfield, Devon, BP, Petroquest, XTO 45 Midwest Ideas Investor Conference Chicago, IL, August 26, 2015
  45. Midwest IDEAS Investor Conference 2015 – Panhandle Oil and Gas Inc. – slide 45
    Year-End 2014 SEC Proved Reserves 46 Midwest Ideas Investor Conference Chicago, IL, August 26, 2015
  46. Midwest IDEAS Investor Conference 2015 – Panhandle Oil and Gas Inc. – slide 46
    Year-End 2014 Proved, Probable and Possible Reserves 47 Midwest Ideas Investor Conference Chicago, IL, August 26, 2015
  47. Midwest IDEAS Investor Conference 2015 – Panhandle Oil and Gas Inc. – slide 47
    PHX LISTED NYSE

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