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 2Q22 Production (MMcfe/d)1 Net Leased Mineral Acres1 74,250 Average Net Interest on Producing Royalty Wells 0.63% 13% 15% 10% 2Q22 Net Production (MMcfe/d)1 27.33 10% 14% 2Q22 Adjusted EBITDA (mm)2…
Focused in SCOOP/STACK and Haynesville Top Operators of PHX Minerals2 Focused mineral position in the SCOOP and Haynesville drive near term growth Source: Company information and Enverus 1 As of 3/31/2022 2 As determined by…
Reserves Value Summary PV10 Value (mm) Reserve Category SEC3 Strip4 100 / 6.00 5 PDP1 136.9 137.3 202.2 PUD1 18.8 19.1 26.4 Total Proved Reserves 155.7 156.3 228.6 Probable2 106.0 154.7 227.2 Possible2 26.4 28.6 41.5 Total 3P…
Royalty Interest Inventory by Basin Undeveloped Locations Gross Sub-region PDP Wells Average NRI1 Wells In Progress2 Average NRI3 Permits2 Average NRI3 PROB4 POSS Contingent SCOOP 983 0.42% 61 0.27% 10 0.17% 977 370 211 Haynesville…
Continued Replenishment of Drilling Inventory Gross WIP Conversions Fiscal Q2 20221 2 3 Net WIP Conversions Fiscal Q2 20221 2 3 The majority of conversions were in SCOOP (35 gross wells) and Haynesville (31 gross wells)…
Continued Replenishment of Drilling Inventory Gross WIP Conversions Fiscal 2022 YTD1 2 3 Net WIP Conversions Fiscal 2022 YTD1 2 3 New Wells in Progress are replenishing inventory converted to Proved Developed Producing…
Acquisition Summary Q1 2021 through Q2 2022 Acquisitions total over 54 million Acquisitions by Basin by Quarter Focused on highest quality rock in the SCOOP 20,000,000 and Haynesville plays 15,000,000 Targeting a mix of…
Acquisition History SCOOP Acquisitions targeting the highest return inventory, controlled by premier operators with solvent balance sheets to ensure continuous development Springboard Plays SCOOP Acquisitions Since Q1 2021 NET…
Acquisition History - Haynesville Acquisitions targeting concentrated tracts delivering high NRIs with multiple WIPs for near term growth in cash flow and investor returns Haynesville Acquisitions Since Q1 2021 NET PROD GROSS…
PHX SCOOP Position Net Mineral Acres1 Net Production (MMcfe/d)1 Core NMA2 Prod.1 7% 10% Portfolio 29% 31% Contribution 93% 90% 7,304 47% 2.68 5% 66% 22% Producing Leased But Not Producing Unleased Oil NGL Gas Key…
Springboard III Area of Interest Highest resource in-place per DSU in the midcontinent, co-developing the Mississippian Sycamore & the Woodford Shale Key Operators: Continental Resources, Camino Natural Resources Over the first 60 days…
PHX Haynesville Position Net Mineral Acres1 Net Production (MMcfe/d)1 Core NMA2 Prod.1 4% 29% Portfolio Contribution 100% 100% 96% 71% 2,628 7.88 HAYNESVILLE SHALE PLAY Producing Leased But Not Producing Unleased Gas Key…
North Haynesville Area of Interest Operators are drilling 3-5 wells per unit, and a positive indication of near term volumes and cashflows Key Operators: Blue Dome, Trinity, Rockcliff, Comstock, Paloma, Chesapeake Primary Target -…
Haynesville A Premier Gas Basin LNG Export Schedule1 US natural gas demand is expected to increase by over 10 Bcf/d by 2025 16 Long-term natural gas price support from continued capital discipline 15 in the sector, increased demand…
Haynesville Historical and Future Development Haynesville Wells/Year Haynesville Dry Gas Production Historical & Forecast Historical & Forecast 600 18 LA TX 16 500 14 New Wells / Year 400 12 10 Bcf/d 300 8 200 6…
Royalty Cash Flow Driving Shareholder Value Oil & Gas Sales and Realized Price Adjusted EBITDA1 in millions 5.8 in millions and / Mcfe 13.7 14.8 6 14 5.1 5.0 12.1 12 5 10.9 4.4 9.8 4.1 4.2 4.2 10 4 8.2 8.4 3.6 7.6 7.2 8 6.43…
Reconciliation of Non-GAAP Financial Measures Source: Company Filings 21
Hedge Position as of May 6, 2022 Hedging Program Reduces Risk, Protects Returns Date Contract Product Volume Contract Length Price Entered Type Trades Entered into since 1/1/22 02/24/22 Natural Gas Swap 20,000 mmbtu/Month April…
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 CEO and Board Chad Stephens 5 SVP Corporate Development of Range Resources for 20 years until retiring in 2018 Director B.A. in Finance…
STACK Position Net Mineral Acres1 Net Production (MMcfe/d)1 Core NMA2 Prod. 1 7% 14% 7% 4% 11% Portfolio Contribution 93% 86% 5,813 3.75 29% 89% 60% Oil NGL Gas Key Statistics1 Top Operators5 Permits on File 11…
Arkoma Stack Position Net Mineral Acres1 Net Production (MMcfe/d)1 Core NMA2 Prod.1 5% 11% Portfolio 29% Contribution 89% 10,790 3.08 95% 2% 69% Oil NGL Gas Key Statistics1 Top Operators5 Permits on File 4 Wells…
Bakken/Three Forks Position Net Mineral Acres1 Net Production (MMcfe/d)1 Core NMA2 Prod.1 96% 4% 4% 11% Portfolio 96% 25% Contribution 3,102 1.05 60% 89% 15% Oil NGL Gas Key Statistics1 Top Producers5 Permits on File…
Fayetteville Position Net Mineral Acres1 Net Production (MMcfe/d)1 Core NMA12 Prod.1 10% 17% Portfolio 27% Contribution 90% 83% 9,867 4.67 100% 73% Gas Key Statistics1 Top Operators5 Permits on File 0 Wells on…
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