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…
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…
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…
THE MINERAL ACREAGE ADVANTAGE (Economic Impact of Working Interest Participation on Mineral Acres) Example: Finding Cost, /Mcfe Rate of Return, % (BTAX) 1.6 30 Southeastern Oklahoma Woodford Shale Well 28% 1.4 25 ASSUMPTIONS:…
Royalty Production and Revenue History 50 6.00 Royalty Volume Bcfe Royalty Revenue Million 5.50 45 PHX has over approximately 4,800 identified undeveloped locations and 199,000 mineral acres not currently producing available to feed…
Financial Highlights Nine Months Ended June 30, 2016 CONDENSED BALANCE SHEET JUNE 3 0 , 2 0 1 6 Current assets 7,080,155 Property and equipment 441,689,315 Less accumulated DD&A (246,216,837) Net property and equipment 195,472,478…
Financial Highlights Nine Months Ended June 30, 2016 N INE MONTHS 2016 2015 Oil, NGL and natural gas sales 22,557,372 43,400,839 Lease bonus 7,188,152 1,945,743 Total revenue (1) 28,911,794 57,427,092 Net income (loss) (11,024,074)…
Credit Facility 200 million credit facility, maturity November 2018 45 million currently outstanding 80 million borrowing base, renewed June 2016 Price Risk Mitigation Through Hedging DURATION MONTHLY VOLUME PRICES OIL…
Price Risk Mitigation Through Hedging (continued) DURATION MONTHLY VOLUME PRICES GAS Nov -Dec 2016 70,000 mmbtu 2.75 floor/3.05 ceiling Nov -Dec 2016 50,000 mmbtu 2.90 floor/3.40 ceiling Nov 2016-Mar 2017 25,000 mmbtu 3.20 swap…
PHX Stock Price History 30 Net of Dividends 25 20 15 10 5 0 12.31.2006 12.31.2007 12.31.2008 12.31.2009 12.31.2010 12.31.2011 12.31.2012 12.31.2013 12.31.2014 12.31.2015 12 Southwest Ideas Investor Conf.…
PHX Investment Strategy & Current Activity Maintain the disciplined and consistent long term investment philosophy of investing in projects that we believe will earn reasonable rates of return at NYMEX futures pricing YTD capital…
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…
Permian Basin Cochran Co. San Andres Project 17 Southwest Ideas Investor Conf. Dallas, TX - Nov. 17, 2016
Permian Basin Cochran Co. San Andres Project 18 Southwest Ideas Investor Conf. Dallas, TX - Nov. 17, 2016
Permian Basin Cochran Co. San Andres Project Panhandle leased out 4,050 contiguous net mineral acres to Element Petroleum on the northwest shelf of the Midland Basin in Cochran Co. Texas The lease covers a 34.5 square mile area The…
Eagle Ford Current net production 412 Boe per day 71 producing wells 106 additional undeveloped Eagle Ford locations Proved Reserves 79% Crude Oil, 11% NGL & 10% Natural Gas Year-End 2016 proved 4,255 Mbo + 615 MbNGL + 3.3 Bcf…
PHX Eagle Ford Shale Leasehold Acreage and Active Wells 22 Southwest Ideas Investor Conf. Dallas, TX - Nov. 17, 2016
Arkansas Fayetteville Shale Diverse mineral and leasehold ownership across the play PHX wells primarily operated by Southwestern Energy Current production 8.5 Mmcfe per day Reserves Year-End 2016 proved 25.5 Bcfe (21% of total)…
Southeastern Oklahoma Woodford Shale Diverse mineral ownership across the play PHX wells primarily operated by Newfield, BP and XTO Current production 3.2 Mmcfe per day Reserves Year-End 2016 proved 25.8 Bcfe (21% of total) 2016…
Western & South Central Oklahoma 29 Southwest Ideas Investor Conf. Dallas, TX - Nov. 17, 2016
STACK, SCOOP and CANA Woodford 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 Year-End 2016 proved…
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…
Reserve Statistics Proved Reserves at Year-End 2016 Proved developed reserves 81.4 Bcfe PUD reserves - 42.6 Bcfe or 34% of total proved reserves Proved SEC flat pricing PV10 - 47.9 million (1.97/Mcf, 36.77/Bo & 12.22/Bngl…
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…
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…
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 accretive…
Appendix Slides PHX LISTED NYSE
Mineral Holdings Significant Mineral Acreage Holdings 120 Net Acres (Thousands) 100 80 60 40 20 0 OK NM TX ND AR Leasehold 38 Southwest Ideas Investor Conf. Dallas, TX - Nov. 17, 2016
Year-End 2016 Reserves and YTD Third Quarter 2016 Production and Revenue by Product Gas NGL Oil 120 100 19% 26% 28% 80 34% 9% 45% 51% 8% 60 6% 40 72% 66% 49% 20 0 Year-End Fiscal 2016 YTD Fiscal 2016 YTD…
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 Total 0.11 3.29 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 2.00…
Annual Production Per Debt Adjusted Share Gas-Mcf Oil & NGL Mcfe 2.00 7,000 1.80 6,195 6,105 6,000 6,019 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…
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…
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