Panhandle Oil and Gas Inc. Profile Non-operating independent oil and gas company with current drilling projects in the Anadarko Basin liquids rich gas and oil projects, Fayetteville Shale and in three Oklahoma Woodford Shale Plays…
Distinguishing Characteristics of PHX Mineral Ownership Minerals are perpetual Drilling on minerals generates better well economics Minerals have a lower inherent risk profile Low Cost Structure Extremely low cost basis in mineral…
THE MINERAL ACREAGE ADVANTAGE (Economic Impact of Working Interest Participation on Mineral Acres) Typical Fayetteville Shale Well Finding Cost, /Mcfe Rate of Return, % (BTAX) 45 1.4 Assumptions: 40 19% Lower 1.2 PHX ownership -…
Unique Operational Strategy Use ownership of 255,000 mineral acres as base Have used mineral acreage ownership to participate with a working interest in the drilling of a significant number of wells Producing working interest in…
Unique Operational Strategy (continued) Majority of working interest drilling is on perpetually owned fee mineral acreage (minimal cost per acre, averages approximately 90 per acre) Large mineral acreage ownership position allows for…
Financial Highlights - Fiscal 2013 Year Ended September 30, 2013 2012 Revenue 62,889,120 48,532,317 Net income 13,960,049 7,370,996 Earnings per share 1.67 .88 Net cash provided by operating activities 37,402,109 25,371,196…
Financial Highlights - Fiscal 2014 Condensed Balance Sheet December 31, 2013 Current assets 15,847,014 Property and equipment 324,095,384 Less accumulated DD&A (191,820,197) Net property and equipment 132,275,187 Other 2,103,523…
Financial Highlights Three Months Ended December 31, 2013 Three Months Ended December 31, 2013 2012 Oil, NGL and natural gas sales 18,473,082 12,758,954 Total revenue 18,396,756 14,180,435 Net income 4,926,318 2,148,298 Earnings…
Price Risk Mitigation Through Hedging Period Volume/Month Costless Collars Gas July - Dec 2014 140,000 mmbtu 3.75 - 4.50 Gas Nov 2013 - Apr 2014 160,000 mmbtu 4.00 - 4.55 Gas Jan - June 2014 40,000 mmbtu 3.25 - 3.90 Gas Jan - June…
Asset Pyramid Non-proved undeveloped reserves on fee mineral acres, Probable Fayetteville Shale, Woodford Shales and Granite Wash and (superior economics due to royalty retention) Possible Reserves 6,105 producing wells, 60% of…
Panhandles Mineral Acreage Strategy Results Allows the Company to generate positive financial results, even during low natural gas price environment Ability to maximize return on Company assets through working interest participation…
Cumulative 5-Year Return on Common Stock COMPARISON OF 5 YEAR CUMULATIVE TOTAL RETURN* Among Panhandle Oil & Gas Inc, the S&P Smallcap 600 Index, and the S&P Oil & Gas Exploration & Production Index 300 250 200 150…
Operating Highlights Rate of Return/Value Creation driven investment philosophy Oil focused 2014 YTD drilling capital commitments Western Oklahoma/Texas Panhandle oil 39% Southern Oklahoma Woodford oil 15% Permian Basin oil 3%…
Mineral Holdings Significant Mineral Acreage Holdings 120 Net Acres (Thousands) 100 80 60 40 20 0 OK NM TX ND AR Leasehold 17 March 2014 Investor Presentation
Year-End 2013 Reserves and First Quarter 2014 Production and Revenue by Product Gas NGL Oil 100 7% 13% 20.6% 14.3% 6% 80 6.3% 48.6% 42.3% 60 6.3% 87% 40 79.4% 51.4% 20 0 Year-End First Quarter First Quarter 2013…
Unit Costs Per MCFE DD&A LOE/Prod Tax G&A 8.00 7.00 6.00 Total 5.00 4.51 Total /Mcfe 4.24 Total 0.65 3.87 Total Total 4.00 0.49 3.43 Total 3.40 3.27 0.63 1.30 0.90 3.00 0.67 0.60 0.52 1.08 1.11 1.00 1.06…
Annual Production Per Debt Adjusted Share Gas-Mcf Oil & NGL Mcfe 2.00 1.80 Total 1.60 1.50 1.40 0.24 Total Mcfe/Share Total 1.20 1.20 1.11 Total Total 1.06 1.06 0.17 0.09 1.00 Total 0.07 0.07 .87 0.80 0.09 0.60…
Proved Reserves Per Debt Adjusted Share Proved Developed Reserves Per Share Proved Undeveloped Reserves Per Share 24.00 22.00 20.00 Total 17.56 18.00 Mcfe/Share Total 6.79 16.00 Total 14.09 14.00 Total 13.30 12.31…
Western Oklahoma Anadarko Basin 25 March 2014 Investor Presentation
PHX Drilling Activity in Western Oklahoma and the Texas Panhandle Hemphill County Cleveland Ellis County Marmaton Cleveland Roger Mills County Marmaton Cleveland Beckham County Hogshooter Granite Wash 26 March 2014…
Anadarko & Ardmore Basin Woodford Shales Diverse mineral ownership across initial plays Interest (WI or RI) in 11% of all producing wells in the play PHX wells primarily operated by Devon, Cimarex, Continental and XTO Current…
Anadarko Basin Cana Woodford Shale Core Core Development Area 29 March 2014 Investor Presentation
Southern Anadarko Basin and Ardmore Basin Woodford 30 March 2014 Investor Presentation
Arkansas Fayetteville Shale 31 March 2014 Investor Presentation
Arkansas Fayetteville Shale Diverse mineral and leasehold ownership across the play Interest (WI or RI) in 24% of all producing wells in the play PHX wells primarily operated by Southwestern Energy Current production 13.2 Mmcfe per…
Arkansas Fayetteville Shale 33 March 2014 Investor Presentation
The Panhandle Oil and Gas Advantage Broadly diversified perpetual mineral holding Total US mineral ownership of 255,000 acres with geographic and product diversity Substantial advantage in capital efficiency due to mineral…
Southeastern Oklahoma Woodford Shale 35 March 2014 Investor Presentation
Southeastern Oklahoma Woodford Shale Diverse mineral ownership across the play Interest (WI or RI) in 17% of all producing wells in the play PHX wells primarily operated by Newfield, Devon, BP and PetroQuest Current production 4.6…
Southeastern Oklahoma Woodford Shale Current Development Area 37 March 2014 Investor Presentation
Year-End 2013 Proved, Probable and Possible Reserves Proved, Probable and Possible Proved, Probable and Possible Reserves by Reserve Category Reserves by Field All Other Western Fields Oklahoma, 23.6 Bcfe Texas 4.5% Anadarko…
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