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December 2021 Investor Presentation – PHX Minerals Inc.

PHX Minerals Inc. · Dec 1, 2021 · 27 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. December 2021 Investor Presentation – PHX Minerals Inc. – slide 1
    Investor Presentation December 2021
  2. December 2021 Investor Presentation – PHX Minerals Inc. – slide 2
    Cautionary Statement Regarding Forward-Looking Statements This presentation does not constitute an offer to sell, a solicitation of an offer to buy, or a recommendation to purchase any security of PHX Minerals Inc. (PHX or the Company).…
  3. December 2021 Investor Presentation – PHX Minerals Inc. – slide 3
    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…
  4. December 2021 Investor Presentation – PHX Minerals Inc. – slide 4
    Company Overview Key Statistics Net Mineral Acres (000s)1 Net Mineral Acres2 251,925 6% 25% 7% Average Net Interest on Producing Royalty Wells1 0.65% 2% 4% 4Q21 Net Production (MMcfe/d)2 24.04 70% 50% 77.4 10% 4Q21 Adjusted EBITDA…
  5. December 2021 Investor Presentation – PHX Minerals Inc. – slide 5
    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…
  6. December 2021 Investor Presentation – PHX Minerals Inc. – slide 6
    Inventory by Basin Gross Undeveloped Locations Gross Sub-region PDP Wells Average NRI1 Wells In Progress2 Permits2 PROB3 POSS Contingent SCOOP 708 0.35% 41 13 865 373 211 STACK 342 0.52% 8 6 181 65 272 Haynesville 138 0.61% 26 0 220…
  7. December 2021 Investor Presentation – PHX Minerals Inc. – slide 7
    Reserves Summary PV-10 Value (mm) Reserve Category SEC1 Strip2,5 80 / 5.003,5 PDP 86.8 105.7 154.3 PUD 9.7 12.1 16.4 Total Proved Reserves 96.5 117.8 170.7 Probable4 78.2 87.3 126.9 Possible4 19.4 21.3 30.8 Total 3P Reserves 194.1 226.4…
  8. December 2021 Investor Presentation – PHX Minerals Inc. – slide 8
    Acquisition History SCOOP / STACK Closed Deals FY 2021 through 11/15/21 Acquisitions PRICE, NET PROD GROSS DATE NRA M (MCFE/d) 1 UNDEVELOPED/WIPs 1 OCT-20 2,350 297 110 97 / 21 APR-21 10,939 2,514 475 589 / 17 SEP-20 169 21 0…
  9. December 2021 Investor Presentation – PHX Minerals Inc. – slide 9
    Acquisition History - Haynesville Closed Deals FY 2021 through 11/15/21 Acquisitions PRICE, NET PROD GROSS DATE NRA M (MCFE/d) 1 UNDEVELOPED/WIPs 1 Oct-20 3,908 409 659 24/20 Nov-20 750 184 200 21/9 Dec-20 1,000 142 130 0/12…
  10. December 2021 Investor Presentation – PHX Minerals Inc. – slide 10
    SCOOP & STACK Activity Ovintiv Cube Development SCOOP & STACK L24 Months Activity1,2 SCOOP-STACK 1 FCF Generating 9491 gross wells have Asset3A; 2021 CAPEX 300 - 325 L24 Date of 1st Production2 commenced operations in the MM3B 2…
  11. December 2021 Investor Presentation – PHX Minerals Inc. – slide 11
    PHX SCOOP Position Net Mineral Acres1 Net Production (MMcfe/d)2 Core NMA3 Prod.2 93% 7% 91% 9% Portfolio 29% 28% Contribution 7,031 2.3 45% 27% 7% 64% Producing Leased But Not Producing Open Oil NGL Gas Key Statistics1…
  12. December 2021 Investor Presentation – PHX Minerals Inc. – slide 12
    Springboard III Area of Interest In November 2020, Continental Resources announced the Strategic Acquisition of Casillas Petroleum - 19,500 NMA for 200MM6 Assume Continental will drill Springboard III at a similar pace to SpringBoard I…
  13. December 2021 Investor Presentation – PHX Minerals Inc. – slide 13
    Springboard III Activity Recent Well Results WOODFORD 8 WELL DSU 660 SPACING MAP CUM MONTHS WELL PROD. ZONE (MBOE6) PROD 1 Brian 27-34 S1H Sycamore 125 5 Sundance Kid 0104 2 26-35-1MXH Sycamore 74 2 SPRINGBOARD III Skeet…
  14. December 2021 Investor Presentation – PHX Minerals Inc. – slide 14
    Haynesville Position Net Mineral Acres1 Net Production (MMcfe/d)2 Core NMA3 Prod.2 Portfolio Contribution 1,449 2.9 HAYNESVILLE SHALE PLAY 100% 100% Producing Leased But Not Producing Open Oil NGL Gas Key Statistics1 Top…
  15. December 2021 Investor Presentation – PHX Minerals Inc. – slide 15
    Caddo Parish Area of Interest Selected key operators: Goodrich/Paloma, Chesapeake and Comstock Rig Permits Targeted zone is the Haynesville Shale WIPs 1st Prod TTM PHX Ownership1: 409 Net Mineral Acres / 637 Net Royalty Acres Spud…
  16. December 2021 Investor Presentation – PHX Minerals Inc. – slide 16
    STACK Position Net Mineral Acres1 Net Production (MMcfe/d)2 Core NMA3 Prod. 2 16% 93% 7% 84% 6% 10% Portfolio 5% Contribution 5,814 30% 4.1 60% 89% Producing Leased But Not Producing Open Oil NGL Gas Key Statistics1…
  17. December 2021 Investor Presentation – PHX Minerals Inc. – slide 17
    Southwestern Kingfisher County Area of Interest Selected key operators: Ovintiv and Devon Targeted zones include the Mississippian Meramec and the Woodford Shale Devon / Dow Chemical Partnership is evaluating additional activity in…
  18. December 2021 Investor Presentation – PHX Minerals Inc. – slide 18
    Financial Highlights Production (MMcfe/d) Adjusted EBITDA (mm)1 50 Working Interest Royalty Interest 40 38 50 34 26 30 24 30 40 28 25 30 9 23 8 20 14 15 9 9 14 20 22 25 10 10 19 14 11 0…
  19. December 2021 Investor Presentation – PHX Minerals Inc. – slide 19
    Reconciliation of Non-GAAP Financial Measures Source: Company Filings 19
  20. December 2021 Investor Presentation – PHX Minerals Inc. – slide 20
    Hedge Position as of November 26, 2021 Natural Gas Hedges (Mcf) Crude Oil Hedges (bbl) Swap Price:1 2.93 3.22 3.40 44.25 52.84 67.55 Collar Ceiling:1 5.10 4.86 4.70 Collar Floor:1 3.50 3.20 3.00 3,242,000 125,500…
  21. December 2021 Investor Presentation – PHX Minerals Inc. – slide 21
    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…
  22. December 2021 Investor Presentation – PHX Minerals Inc. – slide 22
    Appendix
  23. December 2021 Investor Presentation – PHX Minerals Inc. – slide 23
    Company Leadership Years w ith M anagem ent Team Title Ex perience Com pany CEO for PHX since 2019 Chad Stephens CEO and Board Director 5 SVP Corporate Development of Range Resources for 20 years until retiring in 2018 B.A. in…
  24. December 2021 Investor Presentation – PHX Minerals Inc. – slide 24
    Arkoma Stack Position Net Mineral Acres1 Net Production (MMcfe/d)2 Core NMA3 Prod.2 8% Portfolio 34% Contribution 11,576 3.5 92% 2% 64% Producing Leased But Not Producing Open Oil NGL Gas Key Statistics1 Top Operators6…
  25. December 2021 Investor Presentation – PHX Minerals Inc. – slide 25
    Bakken/Three Forks Position Net Mineral Acres1 Net Production (MMcfe/d)2 Core NMA3 Prod.2 96% 4% 11% Portfolio 24% Contribution 3,106 1.2 17% 59% 89% Producing Leased But Not Producing Open Oil NGL Gas Key Statistics1…
  26. December 2021 Investor Presentation – PHX Minerals Inc. – slide 26
    Fayetteville Position Net Mineral Acres1 Net Production (MMcfe/d)2 Core NMA3 Prod.2 Portfolio 28% Contribution 9,871 5.0 100% 72% Producing Leased But Not Producing Open Oil NGL Gas Key Statistics1 Top Operators6…
  27. December 2021 Investor Presentation – PHX Minerals Inc. – slide 27
    Permian Position Net Mineral Acres1 Net Production (MMcfe/d)2 Core NMA3 Prod.2 0% 100% Portfolio Contribution 35,931 0.2 Producing Leased But Not Producing Open Oil NGL Gas Key Statistics1 Top Operators6 Permits on File…

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