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Midwest IDEAS Investor Conference – Panhandle Oil and Gas Inc.

Panhandle Oil and Gas Inc. · Aug 26, 2014 · 42 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. Midwest IDEAS Investor Conference – Panhandle Oil and Gas Inc. – slide 1
    PHX LISTED NYSE
  2. Midwest IDEAS Investor Conference – Panhandle Oil and Gas Inc. – slide 2
    Panhandle Oil and Gas Inc. (PHX) Overview Unconventional business model = The Mineral Acreage Advantage Non-operator, participating with largest E&Ps in USA Selective participation with working interest in most economically attractive…
  3. Midwest IDEAS Investor Conference – Panhandle Oil and Gas Inc. – slide 3
    Mineral Acreage Ownership Definition Mineral rights are property rights (separate from surface rights) to extract minerals (including oil, natural gas, NGLs) below the surface Property rights in U.S. are special Americans are…
  4. Midwest IDEAS Investor Conference – Panhandle Oil and Gas Inc. – slide 4
    PHX Business Model Lower Risk, Higher Returns Direct Ownership Of Mineral Rights = THE M INERAL A CREAGE A DV ANTAGE PHX mineral acreage has extremely low cost basis (approximately 90/acre) Minerals ownership lowers PHX cost verses…
  5. Midwest IDEAS Investor Conference – Panhandle Oil and Gas Inc. – slide 5
    THE MINERAL ACREAGE ADVANTAGE (Economic Impact of Working Interest Participation on Mineral Acres) Typical Fayetteville Shale Well Finding Cost, /Mcfe Rate of Return, % (BTAX) 45 1.4 ASSUMPTIONS: 19% Lower 55% Higher 40 W.I. NRI…
  6. Midwest IDEAS Investor Conference – Panhandle Oil and Gas Inc. – slide 6
    PHX Business Model Lower Risk, Higher Returns Non-operated Drilling Program = Use Mineral Ownership As Leverage Large mineral acreage ownership position provides diversity in drilling projects without additional acreage costs Leveraged…
  7. Midwest IDEAS Investor Conference – Panhandle Oil and Gas Inc. – slide 7
    PHX Business Model Diversified Revenue Sources 70% of revenues from non-operated W.I. production Oil and gas revenues from non-operated working interest (W.I.) production with premier operators Ability to participate in the best…
  8. Midwest IDEAS Investor Conference – Panhandle Oil and Gas Inc. – slide 8
    PHX Revenue and Production By Source Royalty Revenue Million Working Interest Revenue Million Royalty Volume Bcfe Working Interest Volume Bcfe 80 10 9 70 Nine Months 2014 8 60 7 50 6 40 5 4 30 3 20 2 10 1 0 0 2004…
  9. Midwest IDEAS Investor Conference – Panhandle Oil and Gas Inc. – slide 9
    Financial Highlights - Fiscal 2014 Condensed Balance Sheet June 30, 2014 Current assets 24,163,489 Property and equipment 419,666,338 Less accumulated DD&A (198,439,791) Net property and equipment 221,226,547 Other 1,813,251 Total…
  10. Midwest IDEAS Investor Conference – Panhandle Oil and Gas Inc. – slide 10
    Financial Highlights Nine Months Ended June 30, 2014 Nine Months Ended June 30, 2014 2013 Oil, NGL and natural gas sales 59,115,928 42,686,935 Total revenue 56,523,778 44,492,866 Net income 15,703,476 8,240,953 Earnings per share…
  11. Midwest IDEAS Investor Conference – Panhandle Oil and Gas Inc. – slide 11
    Price Risk Mitigation Through Hedging Period Volume/Month Costless Collars Gas July - Dec 2014 140,000 mmbtu 3.75 - 4.50 Oil Jan Dec 2014 4,000 bbls 85.00 - 100.00 Oil July - Dec 2014 5,000 bbls 90.00 - 97.00 Swap Price Gas July -…
  12. Midwest IDEAS Investor Conference – Panhandle Oil and Gas Inc. – slide 12
    Cost Structure 7.00 6.00 Mcfe Margin 5.00 2.56 Average /Mcfe Mcfe Margin 1.44 Mcfe Margin Mcfe Margin 1.41 4.00 0.46 3.00 G&A, .67 G&A, .60 G&A, .52 G&A, .52 LOE/ LOE/ LOE/ LOE/ Prod Tax Prod Tax Prod Tax Prod…
  13. Midwest IDEAS Investor Conference – Panhandle Oil and Gas Inc. – slide 13
    Asset Pyramid Non-proved undeveloped reserves on fee mineral acres, Fayetteville Shale, Woodford Shales and Western Probable Oklahoma/Texas Panhandle horizontal oil plays and Possible (superior economics due to royalty retention)…
  14. Midwest IDEAS Investor Conference – Panhandle Oil and Gas Inc. – slide 14
    Panhandles Mineral Acreage Strategy Results Allows the Company to generate positive financial results, even during low natural gas price environments Ability to maximize return on Company assets through working interest…
  15. Midwest IDEAS Investor Conference – Panhandle Oil and Gas Inc. – slide 15
    Current Operating Highlights Rate of Return/Value Creation driven investment philosophy Oil & NGL focused 2014 YTD drilling capital commitments Eagle Ford Shale 35% Western Oklahoma/Texas Panhandle/Other oil 15% Cana Woodford NGL…
  16. Midwest IDEAS Investor Conference – Panhandle Oil and Gas Inc. – slide 16
    Mineral Holdings Significant Mineral Acreage Holdings 120 Net Acres (Thousands) 100 80 60 40 20 0 17 OK NM TX ND AR Leasehold Midwest Ideas Investor Conference-Chicago, IL August 26-27, 2014
  17. Midwest IDEAS Investor Conference – Panhandle Oil and Gas Inc. – slide 17
    Reserve Statistics Exceptional Reserve Growth Proved reserves at Mid-Year 2014 Proved reserves increased to 159.0 Bcfe SEC Flat Pricing PV10 - 207.5 million (3.72/Mcf, 94.95/Bo & 27.99/Bngl wellhead) NYMEX Futures Pricing PV10 -…
  18. Midwest IDEAS Investor Conference – Panhandle Oil and Gas Inc. – slide 18
    MCFE 1,000,000 1,500,000 2,000,000 2,500,000 3,000,000 3,500,000 4,000,000 500,000 0 12. 31. 200 7 3.3 1. 2 008 6.3 0. 2 008 9.3 0. 2 008 12. 31. 200 8 3.3 1. 2 009 6.3 0. 2 009 GAS 9.3 0.…
  19. Midwest IDEAS Investor Conference – Panhandle Oil and Gas Inc. – slide 19
    Mid-Year 2014 Reserves and Third Quarter 2014 Production and Revenue by Product Gas NGL Oil 100 6% 12.8% 14% 8% 24.2% 80 11.4% 46.1% 35.3% 60 10.8% 40 86% 75.8% 53.9% 20 0 Mid-Year Third Quarter Third Quarter…
  20. Midwest IDEAS Investor Conference – Panhandle Oil and Gas Inc. – slide 20
    Unit Costs Per MCFE DD&A LOE/Prod Tax G&A 8.00 7.00 6.00 5.00 Total 4.51 Total /Mcfe 4.24 Total 0.65 3.87 4.00 0.49 Total Total 3.43 Total 0.63 3.40 3.27 1.30 0.90 3.00 0.67 0.60 0.52 1.08 1.11 1.00 1.06…
  21. Midwest IDEAS Investor Conference – Panhandle Oil and Gas Inc. – slide 21
    Annual Production Per Debt Adjusted Share Gas-Mcf Oil & NGL Mcfe Gross Producing Wells 2.00 7,000 1.80 6,105 6,000 5,666 1.60 5,107 Total 1.50 4,989 Gross Producing Wells 4,861 5,000 1.40 0.24 4,593 Total…
  22. Midwest IDEAS Investor Conference – Panhandle Oil and Gas Inc. – slide 22
    Proved Reserves Per Debt Adjusted Share Proved Developed Reserves Per Share Proved Undeveloped Reserves Per Share 24.00 22.00 20.00 Total 18.00 17.56 Mcfe/Share 6.79 16.00 Total Total 14.09 14.00 Total 13.30 12.31…
  23. Midwest IDEAS Investor Conference – Panhandle Oil and Gas Inc. – slide 23
    3P Undeveloped Reserves Per Debt Adjusted Share Reserves per Share 70.0 60.0 50.0 Mcfe/Share 49.92 40.0 41.03 41.63 38.99 30.0 27.52 20.0 19.69 10.0 0.0 2008 2009 2010 2011 2012 2013 Debt Adjusted Shares…
  24. Midwest IDEAS Investor Conference – Panhandle Oil and Gas Inc. – slide 24
    Eagle Ford Acquisition Locator Map PHX 25 Midwest Ideas Investor Conference-Chicago, IL August 26-27, 2014
  25. Midwest IDEAS Investor Conference – Panhandle Oil and Gas Inc. – slide 25
    Eagle Ford 67 producing wells (62 Eagle Ford, 4 Pearsall and one Buda), one well drilling, 3 wells waiting on completion 107 additional undeveloped Eagle Ford locations Located in the core of the Eagle Ford Shale oil window in La…
  26. Midwest IDEAS Investor Conference – Panhandle Oil and Gas Inc. – slide 26
    Eagle Ford Shale PHX 27 Midwest Ideas Investor Conference-Chicago, IL August 26-27, 2014
  27. Midwest IDEAS Investor Conference – Panhandle Oil and Gas Inc. – slide 27
    Western Oklahoma Anadarko Basin 28 Midwest Ideas Investor Conference-Chicago, IL August 26-27, 2014
  28. Midwest IDEAS Investor Conference – Panhandle Oil and Gas Inc. – slide 28
    PHX Drilling Activity in Western Oklahoma and the Texas Panhandle Hemphill County Ellis County Cleveland Marmaton Apache Cleveland EOG, CHK Roger Mills County Marmaton Cleveland Apache, CHK Beckham County Hogshooter…
  29. Midwest IDEAS Investor Conference – Panhandle Oil and Gas Inc. – slide 29
    Anadarko & Ardmore Basin Woodford Shales 30 Midwest Ideas Investor Conference-Chicago, IL August 26-27, 2014
  30. Midwest IDEAS Investor Conference – Panhandle Oil and Gas Inc. – slide 30
    Anadarko & Ardmore Basin Woodford Shales Diverse mineral ownership across initial plays Interest (WI or RI) in 11% of all producing wells in the play PHX wells primarily operated by Devon, Cimarex, Continental, Newfield and XTO…
  31. Midwest IDEAS Investor Conference – Panhandle Oil and Gas Inc. – slide 31
    Anadarko Basin Cana Woodford Shale Core Core Development Area Devon, Cimarex 32 Midwest Ideas Investor Conference-Chicago, IL August 26-27, 2014
  32. Midwest IDEAS Investor Conference – Panhandle Oil and Gas Inc. – slide 32
    Southern Anadarko Basin and Ardmore Basin Woodford Continental, Newfield, Marathon XTO 33 Midwest Ideas Investor Conference-Chicago, IL August 26-27, 2014
  33. Midwest IDEAS Investor Conference – Panhandle Oil and Gas Inc. – slide 33
    Arkansas Fayetteville Shale 34 Midwest Ideas Investor Conference-Chicago, IL August 26-27, 2014
  34. Midwest IDEAS Investor Conference – Panhandle Oil and Gas Inc. – slide 34
    Arkansas Fayetteville Shale Diverse mineral and leasehold ownership across the play Interest (WI or RI) in 24% of all producing wells in the play PHX wells primarily operated by Southwestern Energy Current production 13.3 Mmcfe…
  35. Midwest IDEAS Investor Conference – Panhandle Oil and Gas Inc. – slide 35
    Arkansas Fayetteville Shale SWN, XTO 36 Midwest Ideas Investor Conference-Chicago, IL August 26-27, 2014
  36. Midwest IDEAS Investor Conference – Panhandle Oil and Gas Inc. – slide 36
    The Panhandle Oil and Gas Advantage Broadly diversified perpetual mineral holding Total US mineral ownership of 255,000 acres with geographic and product diversity Substantial advantage in capital efficiency due to mineral…
  37. Midwest IDEAS Investor Conference – Panhandle Oil and Gas Inc. – slide 37
    Southeastern Oklahoma Woodford Shale 38 Midwest Ideas Investor Conference-Chicago, IL August 26-27, 2014
  38. Midwest IDEAS Investor Conference – Panhandle Oil and Gas Inc. – slide 38
    Southeastern Oklahoma Woodford Shale Diverse mineral ownership across the play Interest (WI or RI) in 17% of all producing wells in the play PHX wells primarily operated by Newfield, Devon, BP and PetroQuest Current production 4.2…
  39. Midwest IDEAS Investor Conference – Panhandle Oil and Gas Inc. – slide 39
    Southeastern Oklahoma Woodford Shale Current Development Area Newfield, Devon, BP, Petroquest, XTO 40 Midwest Ideas Investor Conference-Chicago, IL August 26-27, 2014
  40. Midwest IDEAS Investor Conference – Panhandle Oil and Gas Inc. – slide 40
    Year-End 2013 SEC Proved Reserves SEC Proved Reserves by Reserve Category PDNP 2.1 Bcfe 1.4% PUD 58.7 Bcfe PDP 38.7% 91.0 Bcfe 59.9% 151.8 Bcfe 41 Midwest Ideas Investor Conference-Chicago, IL August 26-27, 2014
  41. Midwest IDEAS Investor Conference – Panhandle Oil and Gas Inc. – slide 41
    Year-End 2013 Proved, Probable and Possible Reserves Proved, Probable and Possible Proved, Probable and Possible Reserves by Reserve Category Reserves by Field All Other Western Fields Oklahoma, 23.6 Bcfe Texas 4.5% Anadarko…
  42. Midwest IDEAS Investor Conference – Panhandle Oil and Gas Inc. – slide 42
    PHX LISTED NYSE

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