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Southwest Ideas Investor Conference – Panhandle Oil and Gas Inc.

Panhandle Oil and Gas Inc. · Nov 19, 2015 · 40 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. Southwest Ideas Investor Conference – Panhandle Oil and Gas Inc. – slide 1
    PHX LISTED NYSE
  2. Southwest Ideas Investor Conference – 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. Southwest Ideas Investor Conference – Panhandle Oil and Gas Inc. – slide 3
    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…
  4. Southwest Ideas Investor Conference – Panhandle Oil and Gas Inc. – slide 4
    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…
  5. Southwest Ideas Investor Conference – Panhandle Oil and Gas Inc. – slide 5
    THE MINERAL ACREAGE ADVANTAGE (Economic Impact of Working Interest Participation on Mineral Acres) Typical SCOOP Woodford Shale Well Finding Cost, /Mcfe Rate of Return, % (BTAX) 1.6 30 28% ASSUMPTIONS: 1.4 25 W.I. NRI 1.2 65%…
  6. Southwest Ideas Investor Conference – 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. Southwest Ideas Investor Conference – 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. Southwest Ideas Investor Conference – Panhandle Oil and Gas Inc. – slide 8
    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…
  9. Southwest Ideas Investor Conference – Panhandle Oil and Gas Inc. – slide 9
    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…
  10. Southwest Ideas Investor Conference – 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. Southwest Ideas Investor Conference – 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. Southwest Ideas Investor Conference – Panhandle Oil and Gas Inc. – slide 12
    0 5 10 15 20 25 30 12. 31 .19 9 9 12. 31 .20 0 0 12. 31 .20 0 1 12. 31 .20 0 2 12. 31 .20 0 3 12. 31 .20 0 4 PHX Stock Price History 12. 31 .20 0 5 12. 31 .20 0 6 12. 31 .20 0 7 12. 31…
  13. Southwest Ideas Investor Conference – 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. Southwest Ideas Investor Conference – 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 2015 Southwest Ideas Investor Conf. Dallas TX November 19, 2015
  15. Southwest Ideas Investor Conference – Panhandle Oil and Gas Inc. – slide 15
    Reserve Statistics Proved reserves at Year-End 2015 Proved developed reserves declined to 108.1 Bcfe as compared to YE 2014 of 115.2 Bcfe due to the dramatic decline in 2015 commodity prices PUD reserves declined to 71.9 Bcfe or 40%…
  16. Southwest Ideas Investor Conference – Panhandle Oil and Gas Inc. – slide 16
    MCFE 0 500,000 1,000,000 1,500,000 2,000,000 2,500,000 3,000,000 3,500,000 4,000,000 4,500,000 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. 31. 200…
  17. Southwest Ideas Investor Conference – Panhandle Oil and Gas Inc. – slide 17
    Year-End 2015 Reserves and Nine Months Production and Revenue by Product Gas NGL Oil 120 100 23% 20% 33% 29% 80 44% 9% 51% 10% 60 7% 40 67% 71% 49% 20 0 Year-End Nine Months Nine Months 2015 2015 2015 SEC…
  18. Southwest Ideas Investor Conference – Panhandle Oil and Gas Inc. – slide 18
    3P Undeveloped Reserves Per Debt Adjusted Share Reserves per Share 70.0 60.0 63.37 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…
  19. Southwest Ideas Investor Conference – Panhandle Oil and Gas Inc. – slide 19
    Material Lease Out of Panhandle Permian Basin Minerals Locator Map 20 2015 Southwest Ideas Investor Conf. Dallas TX November 19, 2015
  20. Southwest Ideas Investor Conference – 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. Southwest Ideas Investor Conference – Panhandle Oil and Gas Inc. – slide 21
    Cana Woodford and SCOOP 22 2015 Southwest Ideas Investor Conf. Dallas TX November 19, 2015
  22. Southwest Ideas Investor Conference – 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. Southwest Ideas Investor Conference – Panhandle Oil and Gas Inc. – slide 23
    Cana Woodford and SCOOP Devon, Cimarex Cana Woodford Continental, Newfield, Marathon SCOOP Woodford/Springer XTO 24 2015 Southwest Ideas Investor Conf. Dallas TX November 19, 2015
  24. Southwest Ideas Investor Conference – Panhandle Oil and Gas Inc. – slide 24
    Arkansas Fayetteville Shale 25 2015 Southwest Ideas Investor Conf. Dallas TX November 19, 2015
  25. Southwest Ideas Investor Conference – 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 per…
  26. Southwest Ideas Investor Conference – Panhandle Oil and Gas Inc. – slide 26
    Arkansas Fayetteville Shale SWN, XTO 27 2015 Southwest Ideas Investor Conf. Dallas TX November 19, 2015
  27. Southwest Ideas Investor Conference – Panhandle Oil and Gas Inc. – slide 27
    Eagle Ford Locator Map PHX 28 2015 Southwest Ideas Investor Conf. Dallas TX November 19, 2015
  28. Southwest Ideas Investor Conference – Panhandle Oil and Gas Inc. – slide 28
    Eagle Ford 29 2015 Southwest Ideas Investor Conf. Dallas TX November 19, 2015
  29. Southwest Ideas Investor Conference – Panhandle Oil and Gas Inc. – slide 29
    Eagle Ford Current production 706 Boepd 71 producing wells (67 Eagle Ford and 4 Pearsall), 1 well waiting on completion 107 additional undeveloped Eagle Ford locations Proved Reserves 76% Crude Oil, 13% NGL & 11% Natural Gas…
  30. Southwest Ideas Investor Conference – Panhandle Oil and Gas Inc. – slide 30
    PHX Eagle Ford Shale Leasehold Acreage and Active Wells 31 2015 Southwest Ideas Investor Conf. Dallas TX November 19, 2015
  31. Southwest Ideas Investor Conference – 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. Southwest Ideas Investor Conference – Panhandle Oil and Gas Inc. – slide 32
    Appendix Slides PHX LISTED NYSE
  33. Southwest Ideas Investor Conference – 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. Southwest Ideas Investor Conference – 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 Total 5,666 1.60 Total 1.63 1.50 5,107 5,000 1.40 4,989 0.38 4,861 0.24 Total 4,593 Gross…
  35. Southwest Ideas Investor Conference – 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 24.00 Total Total 22.00 23.84 20.81 20.00 Total Mcfe/Share 17.56 10.51 18.00 8.32 16.00 Total…
  36. Southwest Ideas Investor Conference – Panhandle Oil and Gas Inc. – slide 36
    Western Oklahoma Anadarko Basin 37 2015 Southwest Ideas Investor Conf. Dallas TX November 19, 2015
  37. Southwest Ideas Investor Conference – Panhandle Oil and Gas Inc. – slide 37
    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…
  38. Southwest Ideas Investor Conference – Panhandle Oil and Gas Inc. – slide 38
    Southeastern Oklahoma Woodford Shale 39 2015 Southwest Ideas Investor Conf. Dallas TX November 19, 2015
  39. Southwest Ideas Investor Conference – Panhandle Oil and Gas Inc. – slide 39
    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…
  40. Southwest Ideas Investor Conference – Panhandle Oil and Gas Inc. – slide 40
    Southeastern Oklahoma Woodford Shale Current Development Area Newfield, Devon, BP, Petroquest, XTO 41 2015 Southwest Ideas Investor Conf. Dallas TX November 19, 2015

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