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IPAA OGIS New York – Panhandle Oil and Gas Inc.

Panhandle Oil and Gas Inc. · Apr 11, 2016 · 44 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. IPAA OGIS New York – Panhandle Oil and Gas Inc. – slide 1
    PHX LISTED NYSE
  2. IPAA OGIS New York – 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. IPAA OGIS New York – 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. IPAA OGIS New York – 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. IPAA OGIS New York – 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. IPAA OGIS New York – Panhandle Oil and Gas Inc. – slide 6
    Royalty Production and Revenue History 50 6.00 Royalty Volume Bcfe Royalty Revenue Million 5.50 45 PHX has over 4,600 identified undeveloped locations and 199,000 mineral acres not currently producing available to feed continued…
  7. IPAA OGIS New York – Panhandle Oil and Gas Inc. – slide 7
    Financial Highlights First Quarter 2016 CONDENSED BALANCE SHEET DECEMBER 3 1 , 2 0 1 5 Current assets 9,066,910 Property and equipment 450,066,670 Less accumulated DD&A (234,432,151) Net property and equipment 215,634,519 Other…
  8. IPAA OGIS New York – Panhandle Oil and Gas Inc. – slide 8
    Financial Highlights First Quarter 2016 FIRST Q UARTER 2016 2015 Oil, NGL and natural gas sales 9,055,288 19,519,700 Total revenue (1) 11,462,125 30,999,170 Net income (loss) (2,799,118) 10,233,761 Earnings per share (0.17) 0.61 Net…
  9. IPAA OGIS New York – Panhandle Oil and Gas Inc. – slide 9
    Price Risk Mitigation Through Hedging DURATION MONTHLY VOLUME PRICES GAS Dec-May 2016 80,000 mmbtu 2.50 floor/3.10 ceiling Jan-Sept 2016 80,000 mmbtu 2.15 floor/2.50 ceiling Jan-Sept 2016 80,000 mmbtu 2.43 swap Apr-Oct 2016…
  10. IPAA OGIS New York – Panhandle Oil and Gas Inc. – slide 10
    10 15 20 25 30 0 5 12. 31 .20 00 12. 31 .20 01 12. 31 .20 02 12. 31 .20 03 12. 31 .20 04 Net of Dividends 12. 31 .20 05 PHX Stock Price History 12. 31 .20 06 12. 31 .20 07 12.…
  11. IPAA OGIS New York – Panhandle Oil and Gas Inc. – slide 11
    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 The…
  12. IPAA OGIS New York – Panhandle Oil and Gas Inc. – slide 12
    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 MCFE 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 12. 009 31.…
  13. IPAA OGIS New York – Panhandle Oil and Gas Inc. – slide 13
    Permian Basin Andrews & Winkler Counties Project 14 IPAA-OGIS New York April 11-13, 2016
  14. IPAA OGIS New York – Panhandle Oil and Gas Inc. – slide 14
    Permian Basin Andrews & Winkler Counties Project 15 IPAA-OGIS New York April 11-13, 2016
  15. IPAA OGIS New York – Panhandle Oil and Gas Inc. – slide 15
    Permian Basin Andrews & Winkler Counties Project Panhandle leased out 2,440 contiguous net mineral acres on the central basin uplift in Andrews and Winkler Counties, Texas The lease covers a 43.6 square mile area The block has…
  16. IPAA OGIS New York – Panhandle Oil and Gas Inc. – slide 16
    Permian Basin Cochran Co. San Andres Project 17 IPAA-OGIS New York April 11-13, 2016
  17. IPAA OGIS New York – Panhandle Oil and Gas Inc. – slide 17
    Permian Basin Cochran Co. San Andres Project 18 IPAA-OGIS New York April 11-13, 2016
  18. IPAA OGIS New York – Panhandle Oil and Gas Inc. – slide 18
    Permian Basin Cochran Co. San Andres Project Panhandle leased out 4,052 contiguous net mineral acres on the northwest shelf of the Midland Basin in Cochran Co. Texas The lease covers a 34.5 square mile area The operator intends to…
  19. IPAA OGIS New York – Panhandle Oil and Gas Inc. – slide 19
    Western & South Central Oklahoma 20 IPAA-OGIS New York April 11-13, 2016
  20. IPAA OGIS New York – Panhandle Oil and Gas Inc. – slide 20
    CANA Woodford and SCOOP Woodford/Springer Plays 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…
  21. IPAA OGIS New York – Panhandle Oil and Gas Inc. – slide 21
    SCOOP/STACK/CANA Plays Devon, Continental, Newfield Stack Meramec/ Woodford Devon, Cimarex, Continental Cana Woodford Continental, Newfield, Marathon SCOOP Woodford/Springer XTO 22 IPAA-OGIS New York April 11-13,…
  22. IPAA OGIS New York – Panhandle Oil and Gas Inc. – slide 22
    Reserve Statistics Proved reserves at Year-End 2015 Proved developed reserves - 108.1 Bcfe PUD reserves - 71.9 Bcfe or 40% of total proved reserves Proved SEC Flat Pricing PV10 - 144.2 million (2.84/Mcf, 55.27/Bo & 19.10/Bngl…
  23. IPAA OGIS New York – Panhandle Oil and Gas Inc. – slide 23
    Panhandle Oil and Gas Undeveloped Mineral Acreage Panhandle owns 199,000 acres of undeveloped minerals in 10 states. The minerals are perpetual and we have deeds to them just like a surface land owner The total value of Panhandles…
  24. IPAA OGIS New York – Panhandle Oil and Gas Inc. – slide 24
    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…
  25. IPAA OGIS New York – Panhandle Oil and Gas Inc. – slide 25
    Asset Pyramid Probable and possible undeveloped reserves on fee mineral acres in the Fayetteville Shale, Oklahoma Woodford Shales and Western Oklahoma/Texas Panhandle horizontal oil plays and held Probable and by production…
  26. IPAA OGIS New York – Panhandle Oil and Gas Inc. – slide 26
    Long Term Growth Strategy Panhandles Primary Goal is to Create Shareholder Value over the Long Term Wisely Invest in Wells Drilled on our Mineral and Leasehold Acreage Funded by Cash Flow Acquire Additional Assets that are…
  27. IPAA OGIS New York – Panhandle Oil and Gas Inc. – slide 27
    Appendix Slides PHX LISTED NYSE
  28. IPAA OGIS New York – Panhandle Oil and Gas Inc. – slide 28
    Mineral Holdings Significant Mineral Acreage Holdings 120 Net Acres (Thousands) 100 80 60 40 20 0 OK NM TX ND AR Leasehold 29 IPAA-OGIS New York April 11-13, 2016
  29. IPAA OGIS New York – Panhandle Oil and Gas Inc. – slide 29
    Year-End 2015 Reserves and First Quarter 2016 Production and Revenue by Product Gas NGL Oil 120 100 23% 20% 29% 80 33% 9% 46% 10% 53% 60 7% 40 67% 71% 47% 20 0 Year-End First Quarter First Quarter 2015 2016…
  30. IPAA OGIS New York – Panhandle Oil and Gas Inc. – slide 30
    Unit Costs Per MCFE DD&A LOE/Prod Tax G&A Interest 8.00 7.00 6.00 5.00 Total Total /Mcfe 4.51 Total 4.24 Total Total 3.78 0.65 3.87 4.00 0.49 Total Total 3.29 0.11 Total 3.43 3.40 0.63 3.27 0.03 0.90 0.53 1.30…
  31. IPAA OGIS New York – Panhandle Oil and Gas Inc. – slide 31
    Annual Production Per Debt Adjusted Share Gas-Mcf Oil & NGL Mcfe Gross Producing Wells 2.00 7,000 1.80 6,195 6,105 6,019 6,000 Total Total 1.59 1.60 Total 1.63 5,666 1.50 5,107 5,000 1.40 4,989 0.38 0.46 4,861 0.24…
  32. IPAA OGIS New York – Panhandle Oil and Gas Inc. – slide 32
    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…
  33. IPAA OGIS New York – Panhandle Oil and Gas Inc. – slide 33
    Year-End 2015 SEC Proved Reserves 34 IPAA-OGIS New York April 11-13, 2016
  34. IPAA OGIS New York – Panhandle Oil and Gas Inc. – slide 34
    Year-End 2015 SEC Proved Reserves 35 IPAA-OGIS New York April 11-13, 2016
  35. IPAA OGIS New York – Panhandle Oil and Gas Inc. – slide 35
    Year-End 2015 Proved, Probable and Possible Reserves 36 IPAA-OGIS New York April 11-13, 2016
  36. IPAA OGIS New York – Panhandle Oil and Gas Inc. – slide 36
    Eagle Ford Locator Map PHX 37 IPAA-OGIS New York April 11-13, 2016
  37. IPAA OGIS New York – Panhandle Oil and Gas Inc. – slide 37
    Eagle Ford Current production 607 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…
  38. IPAA OGIS New York – Panhandle Oil and Gas Inc. – slide 38
    PHX Eagle Ford Shale Leasehold Acreage and Active Wells 39 IPAA-OGIS New York April 11-13, 2016
  39. IPAA OGIS New York – Panhandle Oil and Gas Inc. – slide 39
    S.E. Oklahoma Woodford Shale 40 IPAA-OGIS New York April 11-13, 2016
  40. IPAA OGIS New York – Panhandle Oil and Gas Inc. – slide 40
    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 3.5…
  41. IPAA OGIS New York – Panhandle Oil and Gas Inc. – slide 41
    Southeastern Oklahoma Woodford Shale Play Outline Newfield, Devon, BP, Petroquest, XTO 42 IPAA-OGIS New York April 11-13, 2016
  42. IPAA OGIS New York – Panhandle Oil and Gas Inc. – slide 42
    Arkansas Fayetteville Shale 43 IPAA-OGIS New York April 11-13, 2016
  43. IPAA OGIS New York – Panhandle Oil and Gas Inc. – slide 43
    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 10.5 Mmcfe…
  44. IPAA OGIS New York – Panhandle Oil and Gas Inc. – slide 44
    Arkansas Fayetteville Shale 45 IPAA-OGIS New York April 11-13, 2016

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