Alta Mesa Resources, Inc. J.P. Morgan Energy Conference June 18-20, 2018
Alta Mesa Resources 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 Contiguous acreage facilitates…
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 %…
Alta Mesas Trajectory Continued Realization of Benefits of Business Combination 2018 2019 2020+ Complete business Achieve peer leading Preserve leadership combination capital efficient growth position in the STACK Strengthen…
Development Patterns Underway Multi-well development pattern results across field are favorable 14 Multi-Well Development Patterns on Production1 Since Q4 2017 60,000 50,000 40,000 Cum Bbls Oil 30,000 Average 20,000…
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 1000 Water Oil 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…
Strong Balance Sheet Pre-Funds Growth Plans Balance Sheet Highlights Debt Maturity Profile Pro forma Q1 Liquidity of 899mm 261mm of cash on hand 700 400mm upstream borrowing base with no borrowings 300mm midstream credit…
Alta Mesa Resources Summary Leading Developer of STACK Oil Window Integrated Business Drives Value Strong Balance Sheet with Pre-Funded Growth Strong Management Alignment with Investors 11
APPENDIX
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 Supported by Contiguous Acreage 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…
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