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East Coast Ideas Investors Conference – Panhandle Oil and Gas Inc.

Panhandle Oil and Gas Inc. · Jun 29, 2016 · 45 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. East Coast Ideas Investors Conference – Panhandle Oil and Gas Inc. – slide 1
    PHX LISTED NYSE
  2. East Coast Ideas Investors 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. East Coast Ideas Investors 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. East Coast Ideas Investors 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. East Coast Ideas Investors 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. East Coast Ideas Investors Conference – 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. East Coast Ideas Investors Conference – Panhandle Oil and Gas Inc. – slide 7
    Financial Highlights Six Months Ended March 31, 2016 CONDENSED BALANCE SHEET MARCH 3 1 , 2 0 1 6 Current assets 6,956,481 Property and equipment 442,261,240 Less accumulated DD&A (240,429,941) Net property and equipment 201,831,299…
  8. East Coast Ideas Investors Conference – Panhandle Oil and Gas Inc. – slide 8
    Financial Highlights Six Months Ended March 31, 2016 FIRST HALF 2016 2015 Oil, NGL and natural gas sales 15,191,474 31,957,249 Total revenue (1) 19,049,216 45,678,204 Net income (loss) (10,237,279) 10,937,968 Earnings per share…
  9. East Coast Ideas Investors Conference – Panhandle Oil and Gas Inc. – slide 9
    Price Risk Mitigation Through Hedging DURATION MONTHLY VOLUME PRICES GAS Jan-Sept 2016 80,000 mmbtu 2.15 floor/2.50 ceiling Jan-Sept 2016 80,000 mmbtu 2.43 swap Apr-Oct 2016 200,000 mmbtu 1.95 floor/2.40 ceiling Jun-Sept 2016…
  10. East Coast Ideas Investors Conference – Panhandle Oil and Gas Inc. – slide 10
    PHX Stock Price History 30 Net of Dividends 25 20 15 10 5 0 06 07 08 09 10 11 12 13 14 15 .20 .20 .20 .20 .20 .20 .20 .20 .20…
  11. East Coast Ideas Investors Conference – 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. East Coast Ideas Investors Conference – 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 0 08 6 .3 0. 2 0 08 9 .3 0. 2 12 008 . 31 .2 0 3 .3 08 1. 2 00 6 .3 9 0. 2 00 9 .3 9 0. 2 12 0…
  13. East Coast Ideas Investors Conference – Panhandle Oil and Gas Inc. – slide 13
    Permian Basin Andrews & Winkler Counties Project 14 East Coast Investor Conference, Boston, MA June 29, 2016
  14. East Coast Ideas Investors Conference – Panhandle Oil and Gas Inc. – slide 14
    Permian Basin Andrews & Winkler Counties Project 15 East Coast Investor Conference, Boston, MA June 29, 2016
  15. East Coast Ideas Investors Conference – 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. East Coast Ideas Investors Conference – Panhandle Oil and Gas Inc. – slide 16
    Permian Basin Cochran Co. San Andres Project 17 East Coast Investor Conference, Boston, MA June 29, 2016
  17. East Coast Ideas Investors Conference – Panhandle Oil and Gas Inc. – slide 17
    Permian Basin Cochran Co. San Andres Project 18 East Coast Investor Conference, Boston, MA June 29, 2016
  18. East Coast Ideas Investors Conference – 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. East Coast Ideas Investors Conference – Panhandle Oil and Gas Inc. – slide 19
    Western & South Central Oklahoma 20 East Coast Investor Conference, Boston, MA June 29, 2016
  20. East Coast Ideas Investors Conference – Panhandle Oil and Gas Inc. – slide 20
    CANA Woodford and SCOOP Woodford/Springer Plays Diverse mineral ownership across initial plays PHX wells primarily operated by Devon, Cimarex, Continental, Newfield and XTO Current production 3.8 Mmcfe per day Reserves Mid-Year…
  21. East Coast Ideas Investors Conference – 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 East Coast Investor Conference,…
  22. East Coast Ideas Investors Conference – Panhandle Oil and Gas Inc. – slide 22
    Reserve Statistics Proved Reserves at Mid-Year 2016 Proved developed reserves - 90.9 Bcfe PUD reserves - 54.0 Bcfe or 37% of total proved reserves Proved SEC flat pricing PV10 - 65.5 million (2.14/Mcf, 40.07/Bo & 13.24/Bngl…
  23. East Coast Ideas Investors Conference – 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. East Coast Ideas Investors Conference – Panhandle Oil and Gas Inc. – slide 24
    Panhandle Oil and Gas Undeveloped Mineral Acreage (cont.) Approximately 4,200 acres of the 199,000 undeveloped mineral acres have identified 3P undeveloped locations and reserves associated with them. The 4,200 acres have an estimated…
  25. East Coast Ideas Investors Conference – Panhandle Oil and Gas Inc. – slide 25
    3P Undeveloped Reserves Per Debt Adjusted Share Reserves per Share 40.0 35.0 30.0 Mcfe/Share 25.0 26.36 24.96 20.0 22.37 20.82 20.52 15.0 10.0 5.0 0.0 2011 2012 2013 2014 2015 Debt Adjusted Shares are Based…
  26. East Coast Ideas Investors Conference – Panhandle Oil and Gas Inc. – slide 26
    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…
  27. East Coast Ideas Investors Conference – Panhandle Oil and Gas Inc. – slide 27
    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…
  28. East Coast Ideas Investors Conference – Panhandle Oil and Gas Inc. – slide 28
    Appendix Slides PHX LISTED NYSE
  29. East Coast Ideas Investors Conference – Panhandle Oil and Gas Inc. – slide 29
    Mineral Holdings Significant Mineral Acreage Holdings 120 Net Acres (Thousands) 100 80 60 40 20 0 OK NM TX ND AR Leasehold 30 East Coast Investor Conference, Boston, MA June 29, 2016
  30. East Coast Ideas Investors Conference – Panhandle Oil and Gas Inc. – slide 30
    Mid-Year 2016 Reserves and First Half 2016 Production and Revenue by Product Gas NGL Oil 120 100 19% 24% 29% 80 34% 44% 10% 50% 10% 60 6% 40 71% 66% 50% 20 0 Mid-Year Fiscal 2016 YTD Fiscal 2016 YTD 2016…
  31. East Coast Ideas Investors Conference – Panhandle Oil and Gas Inc. – slide 31
    Unit Costs Per MCFE DD&A LOE/Prod Tax G&A Interest 8.00 7.00 6.00 5.00 /Mcfe Total 3.78 4.00 Total Total Total 3.29 0.11 Total 3.43 3.40 3.27 0.03 0.53 3.00 0.67 0.60 0.52 0.53 1.40 1.11 1.00 1.06 1.18…
  32. East Coast Ideas Investors Conference – Panhandle Oil and Gas Inc. – slide 32
    Annual Production Per Debt Adjusted Share Gas-Mcf Oil & NGL Mcfe 2.00 7,000 1.80 6,195 6,105 6,019 6,000 1.60 5,666 5,107 5,000 1.40 Gross Producing Wells Mcfe/Share 1.20 4,000 1.00 Total Total 3,000 0.80 .75…
  33. East Coast Ideas Investors Conference – Panhandle Oil and Gas Inc. – slide 33
    Proved Reserves Per Debt Adjusted Share Proved Developed Reserves Per Share Proved Undeveloped Reserves Per Share 16.00 14.00 12.00 Total Mcfe/Share 10.66 10.00 Total Total 8.78 8.66 Total 4.7 8.00 Total 7.05 6.65…
  34. East Coast Ideas Investors Conference – Panhandle Oil and Gas Inc. – slide 34
    Year-End 2015 SEC Proved Reserves 35 East Coast Investor Conference, Boston, MA June 29, 2016
  35. East Coast Ideas Investors Conference – Panhandle Oil and Gas Inc. – slide 35
    Year-End 2015 SEC Proved Reserves 36 East Coast Investor Conference, Boston, MA June 29, 2016
  36. East Coast Ideas Investors Conference – Panhandle Oil and Gas Inc. – slide 36
    Year-End 2015 Proved, Probable and Possible Reserves 37 East Coast Investor Conference, Boston, MA June 29, 2016
  37. East Coast Ideas Investors Conference – Panhandle Oil and Gas Inc. – slide 37
    Eagle Ford Locator Map PHX 38 East Coast Investor Conference, Boston, MA June 29, 2016
  38. East Coast Ideas Investors Conference – Panhandle Oil and Gas Inc. – slide 38
    Eagle Ford Current production 457 Boepd 71 producing wells, 1 well waiting on completion 107 additional undeveloped Eagle Ford locations Proved Reserves 76% Crude Oil, 13% NGL & 11% Natural Gas Mid-Year 2016 proved 4,319 Mbo +…
  39. East Coast Ideas Investors Conference – Panhandle Oil and Gas Inc. – slide 39
    PHX Eagle Ford Shale Leasehold Acreage and Active Wells 40 East Coast Investor Conference, Boston, MA June 29, 2016
  40. East Coast Ideas Investors Conference – Panhandle Oil and Gas Inc. – slide 40
    S.E. Oklahoma Woodford Shale 41 East Coast Investor Conference, Boston, MA June 29, 2016
  41. East Coast Ideas Investors Conference – Panhandle Oil and Gas Inc. – slide 41
    Southeastern Oklahoma Woodford Shale Diverse mineral ownership across the play PHX wells primarily operated by Newfield, Devon, BP and PetroQuest Current production 3.4 Mmcfe per day Reserves Mid-Year 2016 proved 15.5 Bcfe (11% of…
  42. East Coast Ideas Investors Conference – Panhandle Oil and Gas Inc. – slide 42
    Southeastern Oklahoma Woodford Shale Play Outline Newfield, Devon, BP, Petroquest, XTO 43 East Coast Investor Conference, Boston, MA June 29, 2016
  43. East Coast Ideas Investors Conference – Panhandle Oil and Gas Inc. – slide 43
    Arkansas Fayetteville Shale 44 East Coast Investor Conference, Boston, MA June 29, 2016
  44. East Coast Ideas Investors Conference – Panhandle Oil and Gas Inc. – slide 44
    Arkansas Fayetteville Shale Diverse mineral and leasehold ownership across the play PHX wells primarily operated by Southwestern Energy Current production 9.3 Mmcfe per day Reserves Mid-Year 2016 proved 35.5 Bcfe (25% of total)…
  45. East Coast Ideas Investors Conference – Panhandle Oil and Gas Inc. – slide 45
    Arkansas Fayetteville Shale 46 East Coast Investor Conference, Boston, MA June 29, 2016

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