EnerCom The Oil and Gas Conference August 2016 ALTA MESA HOLDINGS, LP
Overview Increasing focus and concentration of capital into high-profitability outcomes Sooner Trend STACK(1) 92,000+ net acre position assembled Core Asset: 104 Alta Mesa-operated horizontal wells, primarily Osage Targeting…
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 4
Performance and Reserves Production (MBOE/d) Production (MBOE/d) Proved Reserves (MMBOE) through YE15 90.0 80.0 70.0 60.0 MMBOE 50.0 40.0 30.0 20.0 10.0 0.0 YE11 YE12 YE13 YE14 YE15 OIL GAS NGL EBITDAX ( in…
TTM Expense Trends All Areas Total Company Strong Response to Commodity Prices TTM vs. Estimated LOE per BOE All Areas Average Net LOE/BOE reduced 25% from Q1 to Q2 2016 Operations efficiencies in Sooner Trend area drive 47% of…
2016 Crude Oil Hedging Disciplined Price Risk Management Commodity Price Risk Management Realized 60MM in hedge revenue from oil in 1H16 New hedges placed in 3Q16 protect an additional 13MM in 2016 revenue Protection of 350MM in…
2016 Natural Gas Hedging Disciplined Price Risk Management Commodity Price Risk Management Realized 5MM in hedge revenue from natural gas in 1H16 Panhandle Basis Swaps placed in 3Q16 lock in a differential of (0.26) to Henry Hub…
Hedges Provide Balance Sheet Durability Significant Oil and Gas Downside Protection through 2019 Projected impact to cash flow from settlement of derivative contracts ( in MMs) Oil Prices 20 30 40 50 60 3Q 2016 13.7 7.0 0.3 (2.4)…
Sooner Trend Core Asset
Sooner Trend STACK Demonstrated production and reserve growth Overview (1)(2) Reserves 67 MMBOE YE 2015 SEC 1P PV10 (MM) 539 SEC 1P % Proved Developed 37% 1P Proved R/P 13.1x Area of Operations June 2016 Production 14,000 Net…
We Are The Most Active Operator in the Oil Window STACK is rapidly consolidating Execution Reservoir development, engineering and geology Drilling, completions, and production operations Midstream and marketing Land/lease…
Alta Mesa Position in STACK Significant leasehold in updip, naturally-fractured oil window Area of Operations Nemaha Uplift Over Pressured Updip Oil Oil Volatile Oil Wet Gas Dry Gas
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…
Optimizing Recovery Key Focus for Alta Mesa Confidence in average 7 wells/Section; up to 24 possible 2,500+ locations likely to be defined Osage & Meramec section of Mississippian siliceous, naturally-fractured, overlain by Chester…
Focus: Multi-Well Pattern Definition and Development Four pattern tests to date; multiple areas of optimization Area of Operations 16
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…
Optimizing the Cost Curve - Completions Progressive Optimization of Completion, Rigorously Executed Defined best completion 180 Day Cum BOE/Well assembly Reduced spacing between frac clusters Increased proppant and fluid volumes…
Weeks Island Core Asset
Weeks Island Area Multi-discipline application of modern technology and sound operations Overview (1)(2) Three Salt Dome Fields in the Portfolio Proved Reserves 6 MMBOE (SEC) PV10 (MM) 91 (SEC) % Proved Developed 69% Proved R/P…
Weeks Island Development Updip Reserves Identified from Geology and 3D Seismic Generating multi-year drilling inventory and new reserves with advanced geophysics, geology, and engineering Systematic, progressive, and repeatable…
Summary Rigorous, Substantial Growth through Balance of Decade Resilient Asset Base Portfolio with strong project economics 30 oil / NYMEX gas Large and expanding inventory in up-dip STACK Consistent cash flow with growth upside in…
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