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Corporate Presentation December 2020 – PHX Minerals Inc.

PHX Minerals Inc. · Dec 1, 2020 · 24 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Corporate Presentation December 2020 – PHX Minerals Inc. – slide 1
    Corporate Presentation December 2020
  2. Corporate Presentation December 2020 – PHX Minerals Inc. – slide 2
    Cautionary Statement Regarding Forward-Looking Statements This presentation is not a prospectus and is not an offer to sell, nor a solicitation of an offer to buy securities. The issuer has filed a registration statement (including a…
  3. Corporate Presentation December 2020 – PHX Minerals Inc. – slide 3
    Why Invest in PHX 1 Actively pursue 2 Acquisitions high-quality underpinned by positions in the technical highly fragmented expertise, Strategy of minerals space Growth engineering, and growth via underpinned by geology Minimal…
  4. Corporate Presentation December 2020 – PHX Minerals Inc. – slide 4
    Company Snapshot Key Statistics Net Mineral Acres (000s) (1) Net Mineral Acres 1 252,834 Average Net Interest on Producing Royalty Wells 1 0.66% 4Q20 Net Production (Mmcfe/d)2 23.4 253 74 4Q20 Adjusted EBITDA (mm)3 2 Gross Wells…
  5. Corporate Presentation December 2020 – PHX Minerals Inc. – slide 5
    Diversified Mineral Position 24% 71% 5% Producing Leased But Not Producing Open Over 70%1 of PHXs net mineral position is currently open Provides opportunity to generate additional cash flow from bonus payments and…
  6. Corporate Presentation December 2020 – PHX Minerals Inc. – slide 6
    Portfolio Overview Arkoma SCOOP STACK Haynesville Bakken Fayetteville Permian Other (4) Stack Core NMA 1,2 74 ('000) Production2 23.4 (Mmcfe/d) Top Operators3 WIPs and Permit Locations2 222 Source: Company…
  7. Corporate Presentation December 2020 – PHX Minerals Inc. – slide 7
    Inventory Overview Gross Undeveloped Locations Gross 1 2 2 3 Sub-region PDP Wells Average NRI Wells In Progress Permits PROB POSS Contingent SCOOP 473 0.13% 46 31 364 426 160 STACK 306 0.51% 31 22 157 65 279 Haynesville 21 0.77% 21…
  8. Corporate Presentation December 2020 – PHX Minerals Inc. – slide 8
    Reserves Summary PV-10 Value (mm) 1 Reserve Category SEC Strip2 50 / 3.503 PDP 33.3 50.7 82.3 PUD 5.7 6.8 8.5 Total Proved Reserves 38.9 57.5 90.8 Probable (4) 29.4 37.5 47.9 Possible (4) 20.9 25.5 32.0 Total 3P Reserves 89.2 120.5…
  9. Corporate Presentation December 2020 – PHX Minerals Inc. – slide 9
    SCOOP Position Net Mineral Acres2 Net Production (Mmcfe/d)2 Core NMA1 Prod. Portfolio Contribution 23% 4,997 2.2 10% 21% 13% 69% 64% Producing Leased But Not Producing Open Oil NGL Gas Key Statistics2 Top Operators5…
  10. Corporate Presentation December 2020 – PHX Minerals Inc. – slide 10
    Springboard Area of Interest Selected key operators: Continental Resources, Marathon Focus area for Continental / Franco-Nevada JV Targeted zones include the Woodford Shale, the Springer Springboard Area of Interest Shale and the…
  11. Corporate Presentation December 2020 – PHX Minerals Inc. – slide 11
    STACK Position Net Mineral Acres2 Net Production (Mmcfe/d)2 Core NMA1 Prod. Portfolio Contribution 23% 5,767 4.3 10% 21% 13% 69% 64% Producing Leased But Not Producing Open Oil NGL Gas Key Statistics2 Top Operators5…
  12. Corporate Presentation December 2020 – PHX Minerals Inc. – slide 12
    Southwestern Kingfisher County Area of Interest Selected key operator: Ovintiv Targeted zones include the Woodford Shale and the Meramec Ovinitiv cube development posting strong returns PHX Ownership (1)(2): 1,328 Net Mineral…
  13. Corporate Presentation December 2020 – PHX Minerals Inc. – slide 13
    Haynesville Position Net Mineral Acres2 Net Production (Mmcfe/d)2 Core NMA1 Prod. Portfolio Contribution 23% 391 1.1 10% 21% 13% 69% 64% Producing Leased But Not Producing Open Oil NGL Gas Key Statistics2 Top…
  14. Corporate Presentation December 2020 – PHX Minerals Inc. – slide 14
    San Augustine County Area of Interest Selected key operators: Aethon and Comstock Targeted zone is the Haynesville Shale San Augustine County Area of Interest BPs Sugar Glider wells and Aethons Columbus wells have shown EURs up to…
  15. Corporate Presentation December 2020 – PHX Minerals Inc. – slide 15
    Past Mineral Acquisitions Successfully Completed 1 2 3 Bakken/ Three Forks SCOOP / STACK Haynesville Date: August 2018 May 2019 December 2019 October 2020 October 2020 November 2020 Purchase Price: 8.6mm 3.9mm 9.3mm 2.0mm 3.5mm…
  16. Corporate Presentation December 2020 – PHX Minerals Inc. – slide 16
    Financial Highlights Production (mmcfe/d) Adjusted1 EBITDA (mm) Discretionary Cash Flow (mm)2 Total Debt (mm) 3 Source: Company filings 1 Adjusted to exclude gain on sale; See Appendix for GAAP to non-GAAP reconciliation…
  17. Corporate Presentation December 2020 – PHX Minerals Inc. – slide 17
    Hedge Position as of November 30, 2020 Natural Gas Hedges (mcf) Crude Oil Hedges (bbl) Swap Price:1 2.70 2.69 2.70 58.02 37.00 41.10 Collar Ceiling:1 3.00 3.03 3.14 53.26 44.79 45.73 Collar Floor:1 2.30 2.33 2.47 45.88 36.74…
  18. Corporate Presentation December 2020 – PHX Minerals Inc. – slide 18
    Why Invest in PHX 1 Strategy of growth via accretive mineral acquisitions 2 Growth underpinned by complete technical evaluation 3 Strong track record of sourcing and closing accretive transactions 4 Sector dislocation…
  19. Corporate Presentation December 2020 – PHX Minerals Inc. – slide 19
    Appendix
  20. Corporate Presentation December 2020 – PHX Minerals Inc. – slide 20
    Reconciliation of Discretionary Cash Flow Year Ended Year Ended Year Ended Year Ended ( in millions) Sept. 30, 2017 Sept. 30, 2018 Sept. 30 2019 Sept. 30 2020 Net Income 3.5 14.6 (40.7) (23.8) (+) Unrealized Gain on Derivatives (0.9)…
  21. Corporate Presentation December 2020 – PHX Minerals Inc. – slide 21
    Arkoma Stack Position Net Mineral Acres2 Net Production (Mmcfe/d)2 Core NMA1 Prod. Portfolio Contribution 23% 10% 11,576 4.7 21% 13% 69% 64% Producing Leased But Not Producing Open Oil NGL Gas Key Statistics2 Top…
  22. Corporate Presentation December 2020 – PHX Minerals Inc. – slide 22
    Bakken/Three Forks Position Net Mineral Acres2 Net Production (Mmcfe/d)2 Core NMA1 Prod. Portfolio Contribution 23% 10% 3,094 1.0 21% 13% 69% 64% Producing Leased But Not Producing Open Oil NGL Gas Key Statistics2 Top…
  23. Corporate Presentation December 2020 – PHX Minerals Inc. – slide 23
    Permian Position Net Mineral Acres2 Net Production (Mmcfe/d)2 Core NMA1 Prod. Portfolio Contribution 23% 10% 38,788 0.1 21% 13% 69% 64% Producing Leased But Not Producing Open Oil NGL Gas Key Statistics2 Top…
  24. Corporate Presentation December 2020 – PHX Minerals Inc. – slide 24
    Fayetteville Position Net Mineral Acres2 Net Production (Mmcfe/d)2 Core NMA1 Prod. Portfolio Contribution 23% 10% 9,851 4.9 21% 13% 69% 64% Producing Leased But Not Producing Open Oil NGL Gas Key Statistics2 Top…

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