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November Investor Presentation – Panhandle Oil and Gas Inc.

Panhandle Oil and Gas Inc. · Nov 4, 2015 · 42 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. November Investor Presentation – Panhandle Oil and Gas Inc. – slide 1
    PHX LISTED NYSE
  2. November Investor Presentation – Panhandle Oil and Gas Inc. – slide 2
    Panhandle Oil and Gas Inc. (PHX) Overview UNCONV ENTIONAL BUSINESS MODEL = THE MINERAL ACREAGE ADV ANTAGE Non-operator, participating principally with the largest E&Ps Selective participation with working interest in most economically…
  3. November Investor Presentation – Panhandle Oil and Gas Inc. – slide 3
    PHX Business Model Lower Risk, Higher Returns DIRECT O WNERSHIP O F M INERAL RIGHTS = THE M INERAL A CREAGE A DV ANTAGE PHX mineral acreage has extremely low cost basis (approximately 90/acre) Minerals ownership lowers PHX well costs…
  4. November Investor Presentation – Panhandle Oil and Gas Inc. – slide 4
    PHX Business Model Lower Risk, Higher Returns N ON -O PERATED DRILLING PROGRAM = U SE M INERAL O WNERSHIP A S LEV ERAGE Large mineral acreage ownership position provides diversity in drilling projects without additional acreage…
  5. November Investor Presentation – 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) 1.6 30 ASSUMPTIONS: 1.4 25 W.I. NRI 1.2 22% PHX…
  6. November Investor Presentation – Panhandle Oil and Gas Inc. – slide 6
    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…
  7. November Investor Presentation – Panhandle Oil and Gas Inc. – slide 7
    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…
  8. November Investor Presentation – Panhandle Oil and Gas Inc. – slide 8
    Financial Highlights - Fiscal 2015 CONDENSED BALANCE SHEET JUNE 30, 2015 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 Total…
  9. November Investor Presentation – Panhandle Oil and Gas Inc. – slide 9
    Financial Highlights Fiscal Third Quarter 2015 N INE M ONTHS ENDED JUNE 30, 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…
  10. November Investor Presentation – Panhandle Oil and Gas Inc. – slide 10
    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 Dec-May 2016 80,000 mmbtu 2.50 floor/3.10 ceiling Oil…
  11. November Investor Presentation – Panhandle Oil and Gas Inc. – slide 11
    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…
  12. November Investor Presentation – Panhandle Oil and Gas Inc. – slide 12
    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…
  13. November Investor Presentation – Panhandle Oil and Gas Inc. – slide 13
    PHX Investment Strategy & Current Activity Maintain the disciplined and consistent long term investment philosophy of only investing in projects that we believe will earn reasonable rates of return at NYMEX futures pricing Provide a…
  14. November Investor Presentation – Panhandle Oil and Gas Inc. – slide 14
    Mineral Holdings Significant Mineral Acreage Holdings 120 Net Acres (Thousands) 100 80 60 40 20 0 OK NM TX ND AR Leasehold 15 November 2015 Investor Presentation
  15. November Investor Presentation – Panhandle Oil and Gas Inc. – slide 15
    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…
  16. November Investor Presentation – Panhandle Oil and Gas Inc. – slide 16
    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.…
  17. November Investor Presentation – Panhandle Oil and Gas Inc. – slide 17
    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…
  18. November Investor Presentation – Panhandle Oil and Gas Inc. – slide 18
    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…
  19. November Investor Presentation – Panhandle Oil and Gas Inc. – slide 19
    Material Lease Out of Panhandle Permian Basin Minerals Locator Map 20 November 2015 Investor Presentation
  20. November Investor Presentation – Panhandle Oil and Gas Inc. – slide 20
    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…
  21. November Investor Presentation – Panhandle Oil and Gas Inc. – slide 21
    Cana Woodford and SCOOP 22 November 2015 Investor Presentation
  22. November Investor Presentation – Panhandle Oil and Gas Inc. – slide 22
    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…
  23. November Investor Presentation – Panhandle Oil and Gas Inc. – slide 23
    Cana Woodford and SCOOP Devon, Cimarex Cana Woodford Continental, Newfield, Marathon SCOOP Woodford/Springer XTO 24 November 2015 Investor Presentation
  24. November Investor Presentation – Panhandle Oil and Gas Inc. – slide 24
    Arkansas Fayetteville Shale 25 November 2015 Investor Presentation
  25. November Investor Presentation – Panhandle Oil and Gas Inc. – slide 25
    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…
  26. November Investor Presentation – Panhandle Oil and Gas Inc. – slide 26
    Arkansas Fayetteville Shale SWN, XTO 27 November 2015 Investor Presentation
  27. November Investor Presentation – Panhandle Oil and Gas Inc. – slide 27
    Eagle Ford Locator Map PHX 28 November 2015 Investor Presentation
  28. November Investor Presentation – Panhandle Oil and Gas Inc. – slide 28
    Eagle Ford 29 November 2015 Investor Presentation
  29. November Investor Presentation – Panhandle Oil and Gas Inc. – slide 29
    Eagle Ford Current production 577 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…
  30. November Investor Presentation – Panhandle Oil and Gas Inc. – slide 30
    PHX Eagle Ford Shale Leasehold Acreage and Active Wells 31 November 2015 Investor Presentation
  31. November Investor Presentation – Panhandle Oil and Gas Inc. – slide 31
    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…
  32. November Investor Presentation – Panhandle Oil and Gas Inc. – slide 32
    Appendix Slides PHX LISTED NYSE
  33. November Investor Presentation – Panhandle Oil and Gas Inc. – slide 33
    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…
  34. November Investor Presentation – Panhandle Oil and Gas Inc. – slide 34
    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…
  35. November Investor Presentation – Panhandle Oil and Gas Inc. – slide 35
    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…
  36. November Investor Presentation – Panhandle Oil and Gas Inc. – slide 36
    Year-End 2014 SEC Proved Reserves 37 November 2015 Investor Presentation
  37. November Investor Presentation – Panhandle Oil and Gas Inc. – slide 37
    Year-End 2014 Proved, Probable and Possible Reserves 38 November 2015 Investor Presentation
  38. November Investor Presentation – Panhandle Oil and Gas Inc. – slide 38
    Western Oklahoma Anadarko Basin 39 November 2015 Investor Presentation
  39. November Investor Presentation – Panhandle Oil and Gas Inc. – slide 39
    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…
  40. November Investor Presentation – Panhandle Oil and Gas Inc. – slide 40
    Southeastern Oklahoma Woodford Shale 41 November 2015 Investor Presentation
  41. November Investor Presentation – Panhandle Oil and Gas Inc. – slide 41
    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…
  42. November Investor Presentation – Panhandle Oil and Gas Inc. – slide 42
    Southeastern Oklahoma Woodford Shale Current Development Area Newfield, Devon, BP, Petroquest, XTO 43 November 2015 Investor Presentation

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