The Oil & Gas Conference Alta Mesa Resources Enercom Denver August 2018
Alta Mesa Resources Low cost, high return Meramec / Osage Leading Developer of Drilled 350 Hz wells, transitioned to multi-well pads STACK Oil Window Significant runway for capital efficient growth Contiguous acreage facilitates…
Alta Mesas Trajectory Realization of benefits of business combination 2018 2019 2020+ Complete business Continued delineation of Preserve leadership combination position in NW STACK position in the STACK Strengthen balance…
Leading Developer in STACK Black-Oil Window 350+ wells over 300+ sq. mi. area affirm robust economic opportunity Principal STACK Resource: Osage / Meramec STACK Phase Windows Osage / Meramec progrades basin-ward providing multi-…
Kingfisher County Development Activity points to increasing confidence in STACK/SCOOP/Merge/NW STACK New Drill HZ Permits Issued by County Mississippian HZ Wells by Year and Active Rigs 500 400 300 Custer 200 Woodward 100 0…
Alta Mesa Resources Overview Focused on development and consolidation in the STACK Q2 Key Metrics Market Capitalization1 2.6bn Enterprise Value1 3.2bn Q2 Net Production (BOE/d) 25,600 Q2 Sales % Oil / % Liquids2 48% / 72% Q2…
Kingfisher Midstream Operations Continued expansion of business Recent Developments System Volumes Increased 37% Since Closing, 3rd Party Growth of 87%1 Gas Gathering & Processing AMR Third Parties Alta Mesa delivered volumes Q1…
Kingfisher Midstream Expansion Opportunities Meaningful growth trajectories for all 3 services KFM Gas System KFM Oil System KFM Water System Base growth from Kingfisher County Gas Expansion opportunities in NW STACK (Major,…
Recent Highlights Strong Q2 2018 production 25,600 BOE/d Production Estimated July 2018 production 31,800 BOE/d Ramp Underway Current production rates 50% higher than 2017 exit rate Midstream Q2 2018 system gas volume 96 MMCF/d…
Strong Production Trajectory Ongoing coordination and optimization of multi-well drilling & completion Gross Operated Production, BOE/d 2018 Net Production Outlook, BOE/d 40,000 2-3 Rigs 4-6 Rigs 8 Rigs 85-100% increase 60,000 in…
Upstream Operational Execution Cost control and coordination with increasing level of activity Progression of Wells Drilled1 Well Costs Maintained Focused discipline on costs as activity levels in H1 2018 approached full year 2017…
Production Optimization Key driver to maximize ROI, EBITDA and optimize reserves Steele Well Production Example Optimization Overview Process 2,000 6,000 Disciplined daily surveillance engineer review Lift parameters adjusted…
Development Patterns Underway Multi-well development pattern results continue to be favorable 21 Multi-Well Development Patterns1 100,000 90,000 80,000 70,000 Cumulative BO 60,000 50,000 40,000 Average 30,000…
Pattern Drilling Optimization Focus on coordination, cost control, minimizing offset production impact YTD 2018 Estimated Deferral for Offset Activity Optimization Factors for Multi-Well Pad Profitability Q2 Deferral 5,000 Reservoir…
Expansion into Northwest STACK New agreement, positive results spurring increased activity NW STACK Update KFM Infrastructure Expanding to Service Area1 Drilling, specialty well logging, geologic analysis, initial well results…
Alta Mesa Resources Leading Developer of STACK Oil Window Integrated Business Drives Value Strong Balance Sheet with Pre-Funded Growth Strong Management Alignment with Investors 17
Strong Balance Sheet Pre-Funds Growth Plans Significant liquidity in place to support activity levels Balance Sheet Highlights Debt Maturity Profile Liquidity to fund capital plan to provide positive free cash flow in Q4 2019…
Commodities and Marketing Oil and liquids drive economics, natural gas flow assurance in place H1 2018 Commodity Sales Production Mix Two stream wellhead production remained at 56% oil in H1 2018 and mix is forecast to continue as…
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