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Wells Fargo Energy Symposium – Alta Mesa Holdings, Lp

Alta Mesa Holdings, Lp · Dec 9, 2015 · 17 slides

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Slides

  1. Wells Fargo Energy Symposium – Alta Mesa Holdings, Lp – slide 1
    Wells Fargo Energy Symposium December 2015 ALTA MESA HOLDINGS, LP
  2. Wells Fargo Energy Symposium – Alta Mesa Holdings, Lp – slide 2
    Alta Mesa 2015 Progress 2016 Priorities Alta Mesa has become more durable 2015: Sharpened Focus, Lower Costs, Stronger Assets Protected balance sheet, increased liquidity Doubled STACK position, building resume via test & learn…
  3. Wells Fargo Energy Symposium – Alta Mesa Holdings, Lp – slide 3
    Overview Concentrating capital below 10/BOE F&D Cost in high-quality assets Sooner Trend STACK(1) 80,000+ net acre position assembled 65+ Alta-operated Mesa horizontal wells to date Core Asset: Targeting 2,000+ Osage/Meramec location…
  4. Wells Fargo Energy Symposium – Alta Mesa Holdings, Lp – slide 4
    Capital Allocation (Cash-Flow Neutral Focus) Sharpening Focus on STACK 2015 2016 1st Half 2nd Half Full Year STACK Weeks Island Area Eagle Ford & Other Frontier/Exploration 5
  5. Wells Fargo Energy Symposium – Alta Mesa Holdings, Lp – slide 5
    Operating Efficiency & Profitable Growth Production (MBOE/d) Production (MBOE/d) Proved Reserves PV-10(1) 1,600 1,400 PD PUD 1,200 1,000 800 600 400 200 0 2007 2008 2009 2010 2011 2012 2013 2014 EBITDAX ( in…
  6. Wells Fargo Energy Symposium – Alta Mesa Holdings, Lp – slide 6
    Crude Oil Hedging Disciplined Price Risk Management Commodity Price Risk Management Realized 70MM in hedge revenue from oil in 2015 New hedges placed in 2015 protect an additional 120MM in 2016 revenue Increased hedges through…
  7. Wells Fargo Energy Symposium – Alta Mesa Holdings, Lp – slide 7
    Natural Gas Hedging Disciplined Price Risk Management Commodity Price Risk Management Realized 23MM in hedge revenue from natural gas in 2015 Monetized all 2016 positions in June 2015; subsequently replaced with new 2016 positions…
  8. Wells Fargo Energy Symposium – Alta Mesa Holdings, Lp – slide 8
    Hedges Protect Balance Sheet Significant Oil and Gas Downside Protection in 2015 and 2016 Projected impact to cash flow from settlement of current derivative contracts ( in MMs) Oil Prices 30 40 50 60 70 80 4Q 2015 27.5 19.6 11.7…
  9. Wells Fargo Energy Symposium – Alta Mesa Holdings, Lp – slide 9
    Core Assets: STACK Resource Play, Weeks Island Area Conventional Fields
  10. Wells Fargo Energy Symposium – Alta Mesa Holdings, Lp – slide 10
    Sooner Trend STACK Alta Mesa best-in-class Operator with resume of 65+ operated horizontal wells Overview (1)(2) Proved Reserves 28.2 MMBOE Alta Mesa Focus Area in Up-dip STACK PV10 (MM) 636 % Proved Developed 44% Proved R/P…
  11. Wells Fargo Energy Symposium – Alta Mesa Holdings, Lp – slide 11
    Stack of Pay Zones in STACK Play Chester Uncomformity to Meramec Unconformity Big Lime Alfalfa Oswego Lime Cherokee Shale Prue Sand Skinner Sand Chester Red Fork Sand Subcrop Chester Shale Major Garfield Upper Meramec…
  12. Wells Fargo Energy Symposium – Alta Mesa Holdings, Lp – slide 12
    STACK Geology Generalized SW NE cross section FLATTENED ON THE TOP OF THE OSWEGO LIME SW NE Oswego Lime Pennsylvanian Mississippian Cross Section Location Map STACK PLAY TESTED HORIZONTAL TARGETS Meramec/Osage…
  13. Wells Fargo Energy Symposium – Alta Mesa Holdings, Lp – slide 13
    Optimizing the Cost Curve - Drilling Multi-discipline effort has materially decreased drilling days in STACK Spud to TD 50 46 45 40 34 35 30 25 Days 25 21 20 15 15 13 10 10 5 0 AMH 2012 AMH 2013 AMH 2014 AMH…
  14. Wells Fargo Energy Symposium – Alta Mesa Holdings, Lp – slide 14
    Optimizing the Cost Curve - Completions Progressive Optimization of Completion, Rigorously Executed Defined best completion 800 Peak 30-day Rate, BOE/Day assembly 600 Reduced spacing between frac clusters 400 Increased proppant…
  15. Wells Fargo Energy Symposium – Alta Mesa Holdings, Lp – slide 15
    Weeks Island Area Highly profitable development in known conventional oil fields Overview (1)(2) Prolific Conventional Fields Proved Reserves 8.8 MMBOE PV10 (MM) 392 % Proved Developed 61% Proved R/P 5.7x September 2015…
  16. Wells Fargo Energy Symposium – Alta Mesa Holdings, Lp – slide 16
    BOPD, MCFD, BWPD 1,000 10,000 100 8/1/2012 9/1/2012 10/1/2012 11/1/2012 12/1/2012 1/1/2013 2/1/2013 3/1/2013 4/1/2013 5/1/2013 6/1/2013 7/1/2013 8/1/2013 9/1/2013 10/1/2013 Weeks Island Production…
  17. Wells Fargo Energy Symposium – Alta Mesa Holdings, Lp – slide 17
    Alta Mesa 2015 Progress, 2016 Priorities Alta Mesa has become more durable 2015: Sharpened Focus, Lower Costs, Stronger Assets Protected balance sheet, increased liquidity Doubled STACK position, building resume via test & learn…

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