Alta Mesa Holdings, LP GHS 100 Energy Conference Chicago June 2014
Alta Mesa Overview Systematic, Progressive, Repeatable Development of Large Resources Sooner Trend Resource (1) 41,000+ net acres HBP; multi-year, multi-rig programs Weeks Island Field Area (1) 500 MMBOE oil field; targeting 50…
Business Philosophy 2013 Achievements Reflect Consistent Management Philosophy Management Philosophy 2013 Performance Strong, Develop and expand a balanced portfolio of de-risked Grew reserve volumes 17% and PV10 54% Balanced…
Continuous Asset Optimization 2014 Operational Focus Legacy Asset Areas and Frontier Areas 87% of drilling and recompletion capital Minimal CAPEX required to allocated to Core Assets maintain strong free cash flow; extent of running…
2014 CAPEX Plan Continued Focus on High Margin Liquids Rich Projects CAPEX by Major Areas (MMs) Drilling, Completion, and Infrastructure CAPEX by Area 160 Capital Allocation 2014 capital budget 340 million 76% allocated to core…
Operating Efficiency & Profitable Growth Production Reflects decline of Proved Reserves PV-10 (MBOE/d) 8 BCF of dry gas (MM) production in Hilltop 20 from reallocation of 1,600 capex to oil projects 18 1,400 16 1,200 14 7.6…
Consistently Effective Hedging Disciplined Price Risk Management Protects Future Revenues, Preserves Asset Option Value Commodity Price Risk Management AMH actively manages price risk for expected future production to minimize impact…
Price Risk Management Continual Process Active Management Protects Portfolio Average volumes hedged with future-year contracts (as of beginning of prompt year) YE2009 YE2010 YE2011 YE2012 June 2014 (Prompt Year 2010) (Prompt Year…
South Texas Eagle Ford Acreage position in the core of the Eagle Ford in Karnes County Overview (1)(2)(3) Karnes Acreage Position Proved Reserves 7.3 MMBOE Oil PV10 (MM) 218 Wet Gas/Condensate % Proved Developed 9% R/P 12.1x Dry…
Future Eagle Ford Development Significant Upside in Downspacing and Operational Efficiencies Future Development Janysek 10H Staggered Test 40-acre proved reserves development Upper Eagle Ford 20-acre staggered spacing currently…
Weeks Island Area Multi-discipline application of modern technology and sound operations Overview (1)(2) Proved Reserves 8.7 MMBOE PV10 (MM) 449 % Proved Developed 67% R/P 5.9x May14 Production 5,044 BOEPD % Liquids (Production)…
Weeks Island Development Generating multi-year drilling inventory and new reserves with advanced geophysics, geology, and engineering Systematic, progressive, and repeatable Definition and development of - Undrilled reservoirs -…
Weeks Island Area Replacement and increases in Proved Reserves sets stage for continued growth YE PV-10 Proved Reserves (MM) Gross Proved Reserves (MMBOE) 450 PDP PDNP PUD Since acquiring the field in May 2010, Alta Mesa 400…
Weeks Island Area Applying Proven Ability and Techniques to Build Reserves and Drilling Inventory West Flank Northwest North/Northeast East Flank Initial focus: 2010 Initial Focus: 2012 Initial Focus: 2014 Initial Focus: 2014 22…
Sooner Trend Horizontal development of stacked pays = step change in reserves and production Overview (1) (2) Stacked Pay Development Potential Proved Reserves 17.3 MMBOE PV10 (MM) 341 % Proved Developed 46% R/P 26.5x May14…
Sooner Trend Stratigraphy Mississippi, Woodford, and Hunton Focus, with Potential for Several Other Pay Zones Reservoir Sooner Trend Highlights Checkerboard Major resource targets defined below waterfloods Meramec section of…
Chester Shale Key Economic Differentiator for Alta Mesa Chester Shale is the regional top seal for the Mississippi Lime Chester Shale acted as a barrier to keep the Pennsylvanian seas from flooding the Mississippi Lime in the Alta Mesa…
Meramec Operated Development Program Continuous multi rig operated horizontal program, building on 200+ vertical well results Significant Production Growth Since Start of 2 Rig Program IP30 / EURs Growing with Increased Frac…
Alta Mesa Established Platform for Value and Growth Geographically and geologically balanced portfolio well positioned in proven, attractive U.S. basins. Oil zones in Sooner Trend (Meramec section of Mississippi Lime, Hunton and…
Hedge Positions Natural Gas Oil Period and Type of Contract Volume in Mmbtu Weighted Average High Low Type of Contract Index Volume in Bbls Wtg Avg. High Low 2014 2014 Price Swap Contracts Swap Contracts Short Swaps WTI 1,513,500 93.10…
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