Alta Mesa Resources, Inc. First Quarter 2018 Operational Update May 14, 2018
Alta Mesa Resources Key Investment Highlights Low cost, high return Meramec / Osage Leading Developer of Drilled 300 Hz wells, transitioned to development STACK Oil Window Significant runway for capital efficient growth…
Alta Mesa Resources Overview Focused on development and consolidation in the STACK Market Capitalization1 3.1bn Enterprise Value1 3.4bn Upstream Metrics Net STACK Surface Acres2 130,000 Q1 Net Production (BOE/D) 24,000 Q1 %…
Recent Highlights Successful completion of business combination and continued plan execution Completed business combination on February 9, creating pure-play STACK-focused company 1Q18 net production 24,000 BOE/D, a 24% increase…
Development Patterns Underway Multi-well development pattern results across field are favorable 10 Multi-Well Development Patterns on Production Since Q4 2017 50,000 45,000 40,000 35,000 Cum Oil Production, Bbls…
Transition from De-risk / Delineate to Development Applied learning from pattern tests 80% of 2018 plan on multi-well pads Frac Spread to Rig Ratio Improving Early stages of long term pattern development 9 of thick,…
Operational Efficiencies Across Increasing Scale Disciplined execution during ramp to development mode Significant Acceleration in Wells Drilled as Transition to Development Continues1 Timing from Spud to First Oil Improving with…
Production Optimization Key driver to maximize ROI, EBITDA and optimize reserves EHU 216H Improved Base Production: 5,000 Water Oil 1000 Key to Long-Term Value 4,000 800 BWPD BOPD 3,000 600 Disciplined internal…
Cimarron Express Overview Connects STACK to Cushing with significant third party capacity Strategic Rationale Asset Overview Provides Alta Mesa the ability to sell directly KFM Ownership 50% into Cushing Length 65 miles…
APPENDIX
Meramec/Osage Key Targeted Interval Gamma Ray log does not properly characterize the true lithology A Meramec Gamma Computed Log Ray Lithology A Osage Meramec Osage Flattened on Woodford Shale Gamma ray measurement,…
Consistent Well Results Durable economics over time across acreage position 4Q 2017 - 146 Wells YE 2017 reserves and type curve based on a mean P10 / P90 P2 distribution of 146 producing wells SLOPE = 2.64 P5 Geographical EUR…
Water Systems Assurance of supply and cost control in drilling & completions, LOE SWD System Supply Water System (production support) (drilling and completion support) 14
Kingfisher Midstream System Robust, expandable gathering and processing Natural Gas Processing Current processing capacity of 350 Mmcf/d, inclusive of offtake agreements and 200 Mmcf/d Cryogenic plant in startup 1,200 Bbl/d…
Q1 Realized Prices and Costs 1Q'18 Average sales price per unit before hedging effects: Oil (per Bbl) 62.20 Natural Gas (per Mcf) 2.46 NGLs (per Bbl) 23.30 Average sales price per unit after hedging effects: Oil (per Bbl)…
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