Investor Update February 25, 2019 ALTA MESA RESOURCES ALTAMESA.NET Investor Presentation
ALTA MESA RESOURCES OVERVIEW Q4 Key Metrics Market Capitalization1 380mm Enterprise Value1 1.2bn Q4 Net Production (BOE/d) 37,600 Q4 Net Production % Oil / % Liquids 50% / 73% Q4 KFM System Gas Volume (MMCF/d) 124 Upstream…
RECENT UPDATES Preliminary Q4 production of 37,600 BOE/d (50% oil, 73% liquids) Fourth December average production of 39,100 BOE/d (50% oil, 74% liquids) Quarter Q4 midstream system gas volumes of 124 MMcf/d (82% Alta Mesa), produced…
NEAR TERM EXECUTION THEMES Preserve liquidity and financial flexibility in an 50 oil price environment Target significant reductions in D&C, lifting and overhead costs Reduce drilling pace with focus on optimal spacing and…
2018 PATTERN RESULTS DEGRADED OVER TIME Summary of 2018 Drilling Program 16 of 17 Patterns Above 250 MBO TC at 30 days Drilled 175 wells and completed 174 wells in 2018 20,000 Initial Unit 250MBO Type Curve At year-end 2018 we had 17…
2019 PERSPECTIVES OF RECOVERABLE OIL PER SECTION Estimated Recoverable Oil Per Section Estimated Recoverable Oil Per Section Average EUR per section 850 MBO for fully developed sections with 6-10 wells per section Upspacing is…
COST SAVINGS FOCUS IN 2019 Cost Reductions Drivers 4.5mm / well Utilize gas lift instead of ESPs Drilling & (w/ ESP) Completion Revert to Gen 2 design (24 vs. 36 stages) and standardize on 100 mesh sand (D&C) 3.2mm-3.5mm / well…
2019 ACTIVITY AND CURRENT PATTERN ASSUMPTIONS Development Strategy and Testing for 2019 Illustrative Infill / Sibling Well Economics Rig and Completions Activity: Oil EUR 175 MBO 200 MBO Drilled 3 wells and completed 8 wells in…
2019E UPSTREAM OUTLOOK 2019E Selected Commentary Production from current PDPs (including 8 wells 29,500 31,500 brought on-line YTD), 16 DUCs and 30 wells from Net Production 2 rigs going to 3 rigs BOE/d 45% oil and 70% liquids…
KINGFISHER MIDSTREAM UPDATE Selected Commentary Capital Project Outlook for 2019 Q4 volumes in-line with guidance: 2019E 124 MMCF/d of Natural Gas (82% Alta Mesa) Plant Projects 20mm 100,370 Bbls/d of Produced Water1 5,936 Bbls/d…
2019E MIDSTREAM OUTLOOK 2019E Selected Commentary 110 - 120 Gas, water, and crude volumes are representative of System Gas Volumes Alta Mesa Upstream plan to complete 16 DUCs and MMcf/d run 2 rigs going to 3 rigs in 2019 along with…
Appendix ALTA MESA RESOURCES ALTAMESA.NET Investor Presentation 13
CURRENT BALANCE SHEET UPDATE Borrowing Since Year End Debt Maturity Profile2 AMH credit facility drawn 117mm since year end 700 Reducing negative net working capital was driver of early 2019 draws 500 Capitalization and…
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