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…
Investment Considerations Actively pursue high-quality positions in the Strategy of growth via accretive mineral highly fragmented minerals space acquisitions Minimal incremental G&A required to meaningfully scale Acquisitions…
Company Overview Key Statistics Net Mineral Acres (000s)1 6% Net Mineral Acres 1 251,062 7% 25% 1% 1 4% Average Net Interest on Producing Royalty Wells 0.65% 3Q21 Net Production (Mmcfe/d) 2 27.39 10% 70% 251 51% 76.5 5% 3Q21…
Diversified Mineral Position 25% 5% 70% % Producing % Leased But Not Producing % Unleased Over 70%1 of PHXs net mineral position is currently unleased Provides opportunity to generate additional cash flow from lease…
Inventory by Basin Gross Undeveloped Locations Gross 1 2 2 3 Sub-region PDP Wells Average NRI Wells In Progress Permits PROB POSS Contingent SCOOP 670 0.37% 60 13 935 426 160 STA CK 334 0.53% 14 7 176 65 279 Haynesville 72 0.78%…
Acquisition History SCOOP / STACK HAYNESVILLE ORIGINAL DEAL CLOSING PRICE NRA NET PRODUCTION (MCFE/d) (1) GROSS UNDEVELOPED / WIPs (1) DATE SCOOP/STACK 1 Oct-20 2,099,800 297 110 97/21 HAYNESVILLE 1 Oct-20 3,908,303 409 659…
SCOOP & STACK Activity Ovintiv Cube Development SCOOP & STACK L24 Months Activity1,2 8541 gross wells have SCOOP-STACK 1 FCF Generating Asset3A L24 Date of 1st Production2 commenced operations in the 2021 CAPEX 300 - 325 MM3B L24…
PHX SCOOP Position Net Mineral Acres2 Net Production (MMcfe/d)2 Core NMA1 Prod.2 Portfolio Contribution 23% 6,813 2.2 10% 21% 13% 69% 64% Producing Leased But Not Producing Open Oil NGL Gas Key Statistics2 Top…
SpringBoard I & II 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 Sycamore and the Woodford Shale…
SpringBoard III Area of Interest In November 2020, Continental Resources announced the Strategic Acquisition of Casillas Petroleum - 19,500 NMA for 200MM5 Assume Continental will drill Springboard III at a similar pace to SpringBoard I…
Excellent Geologic Attributes Geology has a big impact on well spacing Springboard III (Sho-Vel-Tum), just like Springboard IV (Core SCOOP), has 3X net thickness and 3x the in-place reserves compared to the Merge area Future upside…
Woodford Isopach + Key Recent Producers Springboard III & IV Woodford wells are outperforming 1.5 MMBOE6 Type Curve Projections CLR TC Projection 1st 180 Days: 150 MBOE61 Actual Well Performance 1st 180 Days: 200 MBOE61 Notable…
STACK Position Net Mineral Acres2 Net Production (MMcfe/d)2 Core NMA1 Prod.2 16% 93% 7% 84% Portfolio Contribution 5,814 4.5 23% 10% 21% 69% 13% 64% Producing Leased But Not Producing Open Oil NGL Gas Key…
Southwestern Kingfisher County Area of Interest Selected key operators: Ovintiv and Devon Targeted zones include the Woodford Shale and the Meramec Devon / Dow Chemical JV in active row development with Dow providing 65% of partnership…
Haynesville Position Net Mineral Acres2 Net Production (MMcfe/d)2 Core NMA1 Prod.2 Portfolio Contribution 23% 779 3.2 10% 21% 13% 69% 100% 64% 100% Producing Leased But Not Producing Open Oil NGL Gas Key Statistics2…
San Augustine County Area of Interest Selected key operators: Aethon and Comstock San Augustine County Area of Interest Targeted zone is the Haynesville Shale PHX Ownership1: 223 Net Mineral Acres / 326 Net Royalty Acres Gross Wells…
Financial Highlights Production (MMcfe/d) Adjusted EBITDA (mm)1 Discretionary Cash Flow (mm)2 Total Debt (mm) 3 Source: Company filings 1 Adjusted to exclude net gain on sale; See Slide 20 for a reconciliation of Adjusted…
Reconciliation of Non-GAAP Financial Measures 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…
Hedge Position as of July 30, 2021 Natural Gas Hedges (Mcf) Crude Oil Hedges (bbl) Swap Price:1 2.82 2.73 2.56 40.75 41.51 Collar Ceiling:1 3.07 3.17 3.26 46.69 50.35 Collar Floor:1 2.38 2.42 2.37 37.00 40.25 2 2 2 2 2…
Why Invest in PHX 1 Strategy of growth via accretive mineral acquisitions 2 Growth underpinned by complete technical evaluation 3 Attractive valuation relative to mineral focused peer group 4 Sector dislocation provides…
Appendix
Company Leadership Years with Management Team Title Experience Company CEO for PHX since 2019 Chad Stephens CEO and Board Director 4 SVP Corporate Development of Range Resources for 20 years until retiring in 2018 B.A. in Finance and…
Arkoma Stack Position Net Mineral Acres2 Net Production (MMcfe/d)2 Core NMA1 Prod.2 5% Portfolio 33% Contribution 23% 11,576 5.5 10% 21% 95% 2%13% 65% 69% 64% Producing Leased But Not Producing Open Oil NGL Gas Key…
Bakken/Three Forks Position Net Mineral Acres2 Net Production (MMcfe/d)2 Core NMA1 Prod.2 96% 4% 11% Portfolio Contribution 1.4 23% 3,106 10% 21% 89% 13% 69% 64% Producing Leased But Not Producing Open Oil NGL Gas Key…
Permian Position Net Mineral Acres2 Net Production (MMcfe/d)2 Core NMA1 Prod.2 Portfolio Contribution 23% 35,931 0.2 10% 21% 13% 69% 64% Producing Leased But Not Producing Open Oil NGL Gas Key Statistics2 Top…
Fayetteville Position Net Mineral Acres2 Net Production (MMcfe/d)2 Core NMA1 Prod.2 Portfolio 28% Contribution 23% 9,871 5.7 10% 21% 100% 13% 69% 72% 64% Producing Leased But Not Producing Open Oil NGL Gas Key…
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