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February 2021 Corporate Presentation – PHX Minerals Inc.

PHX Minerals Inc. · Feb 1, 2021 · 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. February 2021 Corporate Presentation – PHX Minerals Inc. – slide 1
    Corporate Presentation February 2021
  2. February 2021 Corporate Presentation – 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. February 2021 Corporate Presentation – 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. February 2021 Corporate Presentation – PHX Minerals Inc. – slide 4
    Company Snapshot Key Statistics Net Mineral Acres (000s) (1) Net Mineral Acres 1 252,955 Average Net Interest on Producing Royalty Wells 1 0.66% 1Q21 Net Production (Mmcfe/d)2 23.8 253 1Q21 Adjusted EBITDA (mm)3 2.8 74 Gross Wells…
  5. February 2021 Corporate Presentation – 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. February 2021 Corporate Presentation – PHX Minerals Inc. – slide 6
    Portfolio Overview Arkoma SCOOP STACK Haynesville Bakken Fayetteville Permian Other (4) Stack Core NMA 1,2 74 ('000) Production2 23.8 (Mmcfe/d) Top Operators3 WIPs and Permit Locations 194 Source: Company…
  7. February 2021 Corporate Presentation – 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 479 0.13% 45 29 364 426 160 STACK 307 0.50% 32 15 157 65 279 Haynesville 35 0.64% 25…
  8. February 2021 Corporate Presentation – PHX Minerals Inc. – slide 8
    Reserves Summary PV-10 Value (mm) 1 Reserve Category SEC Strip2 60 / 3.503 PDP 33.3 54.5 92.8 PUD 5.7 8.5 11.7 Total Proved Reserves 38.9 63.0 104.5 Probable (4) 29.4 36.7 51.8 Possible (4) 20.9 25.7 36.2 Total 3P Reserves 89.2 125.4…
  9. February 2021 Corporate Presentation – PHX Minerals Inc. – slide 9
    SCOOP Position Net Mineral Acres2 Net Production (Mmcfe/d)2 Core NMA1 Prod. Portfolio Contribution 23% 4,998 2.1 10% 21% 13% 69% 64% Producing Leased But Not Producing Open Oil NGL Gas Key Statistics2 Top Operators5…
  10. February 2021 Corporate Presentation – PHX Minerals Inc. – slide 10
    Springboard Area of Interest Selected key operators: Continental Resources and Marathon Focus area for Continental / Franco-Nevada JV Targeted zones include the Springer Shale, the Mississippi Springboard Area of Interest Sycamore…
  11. February 2021 Corporate Presentation – PHX Minerals Inc. – slide 11
    STACK Position Net Mineral Acres2 Net Production (Mmcfe/d)2 Core NMA1 Prod. Portfolio Contribution 23% 5,767 3.9 10% 21% 13% 69% 64% Producing Leased But Not Producing Open Oil NGL Gas Key Statistics2 Top Operators5…
  12. February 2021 Corporate Presentation – PHX Minerals Inc. – slide 12
    Southwestern Kingfisher County Area of Interest Selected key operators: Ovintiv and Devon Targeted zones include the Woodford Shale and the Meramec Ovinitiv cube development posting strong returns PHX Ownership (1)(2): 1,328 Net…
  13. February 2021 Corporate Presentation – PHX Minerals Inc. – slide 13
    Haynesville Position Net Mineral Acres2 Net Production (Mmcfe/d)2 Core NMA1 Prod. Portfolio Contribution 23% 471 1.2 10% 21% 13% 69% 64% Producing Leased But Not Producing Open Oil NGL Gas Key Statistics2 Top…
  14. February 2021 Corporate Presentation – 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 20…
  15. February 2021 Corporate Presentation – 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 20 Oct 20 / Jan 21 Nov / Dec 2020 Purchase Price: 8.6mm 3.9mm 9.3mm 2.0mm…
  16. February 2021 Corporate Presentation – 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…
  17. February 2021 Corporate Presentation – PHX Minerals Inc. – slide 17
    Hedge Position as of February 4, 2021 Natural Gas Hedges (mcf) Crude Oil Hedges (bbl) Swap Price:1 2.80 2.70 39.00 41.51 Collar Ceiling:1 3.04 3.14 44.85 49.61 Collar Floor:1 2.34 2.42 36.74 38.77 (2) (2) (2) (2) (2)…
  18. February 2021 Corporate Presentation – 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. February 2021 Corporate Presentation – PHX Minerals Inc. – slide 19
    Appendix
  20. February 2021 Corporate Presentation – 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. February 2021 Corporate Presentation – 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 4.9 21% 13% 69% 64% Producing Leased But Not Producing Open Oil NGL Gas Key Statistics2 Top…
  22. February 2021 Corporate Presentation – PHX Minerals Inc. – slide 22
    Bakken/Three Forks Position Net Mineral Acres2 Net Production (Mmcfe/d)2 Core NMA1 Prod. Portfolio Contribution 23% 3,106 1.3 10% 21% 13% 69% 64% Producing Leased But Not Producing Open Oil NGL Gas Key Statistics2 Top…
  23. February 2021 Corporate Presentation – PHX Minerals Inc. – slide 23
    Permian Position Net Mineral Acres2 Net Production (Mmcfe/d)2 Core NMA1 Prod. Portfolio Contribution 23% 38,788 0.1 10% 21% 13% 69% 64% Producing Leased But Not Producing Open Oil NGL Gas Key Statistics2 Top…
  24. February 2021 Corporate Presentation – PHX Minerals Inc. – slide 24
    Fayetteville Position Net Mineral Acres2 Net Production (Mmcfe/d)2 Core NMA1 Prod. Portfolio Contribution 23% 10% 9,871 4.9 21% 13% 69% 64% Producing Leased But Not Producing Open Oil NGL Gas Key Statistics2 Top…

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