Third Quarter 2018 Update Alta Mesa Resources November 13, 2018
Recent Highlights Q3 2018 production 33,400 BOE/d (50% Oil, 72% Liquids) Strong Production 37% QoQ oil growth and 32% QoQ BOE growth Production rate growth of 80% from December 2017 to September 2018 Q3 2018 system gas volume 116…
Alta Mesa Resources Overview Focused on development and consolidation in the STACK Q3 Key Metrics Market Capitalization1 1.6bn Enterprise Value1 2.3bn Q3 Net Production (BOE/d) 33,400 Q3 Net Production % Oil / % Liquids 50% /…
Upstream Operational Execution Cost control and coordination with increasing level of activity Progression of Wells Drilled1 Well Costs Maintained 180 Focused discipline on costs as activity levels YTD 2018 exceeded full year 2017…
Strong Oil Weighted Production Ongoing coordination and optimization of multi-well drilling & completion 2018 Net Production Outlook, BOE/d Q1 '18 Average1 Q2 '18 Average Q3 '18 Average Oil (Bbls/d) 12,700 Oil (Bbls/d) 12,300 Oil…
Development Drilling Ongoing Multi-well pattern development yielding new information on optimum design Growing Contribution of Infill Wells 60,000 Operated Wells, Gross BOE/d (2-Stream) 50,000 40,000 30,000 All Wells Infill…
Kingfisher Midstream Operations Update Volumes update System Gas Volumes Increased 23% From Q2 to Q3 Water Volumes Increasing With Recently Completed Disposal Wells and Increased Alta Mesa Activity 125 AMR Third Parties 123 100 115…
Produced Water Business Overview Transfer of business to Kingfisher Midstream effective October 1, 2018 Asset Map System Overview 200+ miles of permanently installed pipe 20 produced water disposal facilities Capacity of 157,000…
KFM EBITDA Progression and Outlook in millions 2018E EBITDA Progression Midstream Growth Outlook For 2019+ 95 - 110 Base growth from Kingfisher County development activity Gas Expansion opportunities in NW STACK (Major, Blaine,…
Updated KFM Guidance for 2018 Implied Full-Year 2018 Original Full-Year 2018 Q4 Guidance Guidance Guidance Average Rig Count Alta Mesa 9 8 8 Third…
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Upstream Operating Cost Structure Quarterly netback progression Q11 Q2 Q3 Production Oil (BBL/d) 12,700 12,300 16,700 a The lower NGL price per BOE in Q2 and Q3 is an effect of our transition to ethane Gas (MCF/d) 42,900 43,300…
Liquidity Pre-Funds Operating Plans Significant liquidity in place to support activity levels in 2018 and 2019 Capitalization and Liquidity Pro Forma Debt Maturity Profile Pro Forma for Water Transfer Pro Forma As of 9/30…
Commodities and Marketing Oil and liquids drive economics, natural gas flow assurance in place YTD 2018 Commodity Sales Firm Transport and Marketing Commodity Take Away End Markets 21% 100,000 Dth/d PEPL FT, 20 Panhandle Pool…
Capital Spending Year to date through September 30, 20181 YTD Capital Expenditures Breakdown Cash Paid for Capital Expenditures Year To Date 2018 in Millions AMH KFM AMR Capital Expenditures 570.1 39.7 609.8 Less: Increase in…
Crude Oil Derivatives As of November 1, 2018 Crude Oil (Benchmark to NYMEX WTI) 4Q 2018 FY 2019 FY 2020 1 Swaps Volume (BBL/d) 6,000 500 - Weighted Average Price per BBL 53.55 63.03 - Three-Way Collars Volume (BBL/d) 6,000…
Natural Gas Derivatives As of November 1, 2018 Natural Gas (Benchmark to NYMEX HH) 4Q 2018 FY 2019 FY 2020 FY 2021 Swaps Volume (MMBTU/d) 17,500 37,411 - - Weighted Average Price per MMBTU 3.02 2.70 - - Collars Volume (MMBTU/d)…
Settlement Values at Various Commodity Prices As of November 1, 2018 in millions1 Commodity Price Scenarios 2018 2019 Commodity Price () Q4 Q1 Q2 Q3 Q4 Flat 50 2.7 2.8 2.9 2.9 2.9 Crude Oil Flat 60 (3.6) 0.3 0.3 0.3…
Simplified Corporate Structure and Ownership As of October 31, 2018 Pre warrants or earn-out Economic Public Class A Owner Ownership Economic1 Riverstone2 17% Ownership: 28% Bayou City Energy6 2% Economic Owner Ownership 60%…
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