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IPAA OGIS FLORIDA 2014 – Panhandle Oil and Gas Inc.

Panhandle Oil and Gas Inc. · Feb 12, 2014 · 39 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. IPAA OGIS FLORIDA 2014 – Panhandle Oil and Gas Inc. – slide 1
    PHX LISTED NYSE
  2. IPAA OGIS FLORIDA 2014 – Panhandle Oil and Gas Inc. – slide 2
    Panhandle Oil and Gas Inc. Profile Non-operating independent oil and gas company with current drilling projects in the Anadarko Basin liquids rich gas and oil projects, Fayetteville Shale and in three Oklahoma Woodford Shale Plays…
  3. IPAA OGIS FLORIDA 2014 – Panhandle Oil and Gas Inc. – slide 3
    Distinguishing Characteristics of PHX Mineral Ownership Minerals are perpetual Drilling on minerals generates better well economics Minerals have a lower inherent risk profile Low Cost Structure Extremely low cost basis in mineral…
  4. IPAA OGIS FLORIDA 2014 – Panhandle Oil and Gas Inc. – slide 4
    THE MINERAL ACREAGE ADVANTAGE (Economic Impact of Working Interest Participation on Mineral Acres) Finding Cost, /Mcfe Rate of Return, % (BTAX) Typical Fayetteville Shale Well 45 1.4 40 Assumptions: 19% Lower 1.2 PHX ownership -…
  5. IPAA OGIS FLORIDA 2014 – Panhandle Oil and Gas Inc. – slide 5
    UNIQUE Operational Strategy Use ownership of 255,000 mineral acres as base Have used mineral acreage ownership to participate with a working interest in the drilling of a significant number of wells Producing working interest in…
  6. IPAA OGIS FLORIDA 2014 – Panhandle Oil and Gas Inc. – slide 6
    UNIQUE Operational Strategy (continued) Majority of working interest drilling is on perpetually owned fee mineral acreage (minimal cost per acre, averages approximately 90 per acre) Large mineral acreage ownership position allows for…
  7. IPAA OGIS FLORIDA 2014 – Panhandle Oil and Gas Inc. – slide 7
    Financial Highlights - Fiscal 2013 Year Ended September 30, 2013 2012 Revenue 62,889,120 48,532,317 Net income 13,960,049 7,370,996 Earnings per share 1.67 .88 Net cash provided by operating activities 37,402,109 25,371,196…
  8. IPAA OGIS FLORIDA 2014 – Panhandle Oil and Gas Inc. – slide 8
    Financial Highlights - Fiscal 2014 Condensed Balance Sheet December 31, 2013 Current assets 15,847,014 Property and equipment 324,095,384 Less accumulated DD&A (191,820,197) Net property and equipment 132,275,187 Other 2,103,523…
  9. IPAA OGIS FLORIDA 2014 – Panhandle Oil and Gas Inc. – slide 9
    Financial Highlights Three Months Ended December 31, 2013 Three Months Ended December 31, 2013 2012 Oil, NGL and net gas sales 18,473,082 12,758,954 Total revenue 18,396,756 14,180,435 Net income 4,926,318 2,148,298 Earnings per…
  10. IPAA OGIS FLORIDA 2014 – Panhandle Oil and Gas Inc. – slide 10
    Hedging Period Volume/Month Costless Collars Gas July - Dec 2014 140,000 mmbtu 3.75 - 4.50 Gas Nov 2013 - Apr 2014 160,000 mmbtu 4.00 - 4.55 Gas Jan - June 2014 40,000 mmbtu 3.25 - 3.90 Gas Jan - June 2014 50,000 mmbtu 3.50 - 4.30…
  11. IPAA OGIS FLORIDA 2014 – Panhandle Oil and Gas Inc. – slide 11
    Cost Structure 6.00 5.00 Mcfe Margin Mcfe Margin 1.41 1.44 4.00 Mcfe Margin 0.46 /Mcfe 3.00 G&A 0.52 G&A 0.60 G&A 0.67 LOE/Prod Tax LOE/Prod Tax LOE/Prod Tax 1.06 1.00 2.00 1.11 1.00 DD&A 1.69 DD&A 1.80 DD&A…
  12. IPAA OGIS FLORIDA 2014 – Panhandle Oil and Gas Inc. – slide 12
    Asset Pyramid Non-proved undeveloped reserves on fee mineral acres, Probable Fayetteville Shale, Woodford Shales and Granite Wash and (superior economics due to royalty retention) Possible Reserves 6,105 producing wells, 60% of…
  13. IPAA OGIS FLORIDA 2014 – Panhandle Oil and Gas Inc. – slide 13
    Panhandles Mineral Acreage Strategy Results Allows the Company to generate positive financial results, even during low natural gas price environment Ability to maximize return on Company assets through working interest participation…
  14. IPAA OGIS FLORIDA 2014 – Panhandle Oil and Gas Inc. – slide 14
    Cumulative 5-Year Return on Common Stock COMPARISON OF 5 YEAR CUMULATIVE TOTAL RETURN* Among Panhandle Oil & Gas Inc, the S&P Smallcap 600 Index, and the S&P Oil & Gas Exploration & Production Index 300 250 200 150…
  15. IPAA OGIS FLORIDA 2014 – Panhandle Oil and Gas Inc. – slide 15
    Operating Highlights Rate of Return/Value Creation driven investment philosophy Oil focused 2014 YTD drilling capital commitments Western Oklahoma/Texas Panhandle oil 39% Southern Oklahoma Woodford oil 15% Permian Basin oil 3%…
  16. IPAA OGIS FLORIDA 2014 – Panhandle Oil and Gas Inc. – slide 16
    Mineral Holdings Significant Mineral Acreage Holdings 120 Net Acres (Thousands) 100 80 60 40 20 0 OK NM TX ND AR Leasehold 17 IPAA-OGIS Florida 2014 Ft Lauderdale, FL - February 12, 2014
  17. IPAA OGIS FLORIDA 2014 – Panhandle Oil and Gas Inc. – slide 17
    Reserve Statistics Exceptional Reserve Growth Proved reserves at Year-End 2013 Proved reserves increased to 151.8 Bcfe SEC Flat Pricing PV10 - 176.5 million (3.33/Mcf, 89.06/Bo & 27.28/Bngl wellhead) NYMEX Futures Pricing PV10 -…
  18. IPAA OGIS FLORIDA 2014 – 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 GAS 009 9.3…
  19. IPAA OGIS FLORIDA 2014 – Panhandle Oil and Gas Inc. – slide 19
    Year-End 2013 Reserves and First Quarter 2014 Production and Revenue by Product Gas NGL Oil 100 7% 13% 20.6% 14.3% 6% 80 6.3% 48.6% 42.3% 60 6.3% 87% 40 79.4% 51.4% 20 0 Year-End First Quarter First Quarter 2013…
  20. IPAA OGIS FLORIDA 2014 – 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 3.40 0.63 3.27 1.30 0.90 3.00 0.67 0.60 0.52 1.08 1.11 1.00 1.06…
  21. IPAA OGIS FLORIDA 2014 – Panhandle Oil and Gas Inc. – slide 21
    Annual Production Per Debt Adjusted Share Gas-Mcf Oil & NGL Mcfe 2.00 1.80 Total 1.60 1.50 1.40 0.24 Total Mcfe/Share Total Total 1.20 1.20 1.11 Total 1.06 1.06 0.17 0.09 1.00 Total 0.07 0.07 .87 0.80 0.09 0.60…
  22. IPAA OGIS FLORIDA 2014 – 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 17.56 18.00 Mcfe/Share Total 6.79 16.00 Total 14.09 Total 13.30 14.00 12.31…
  23. IPAA OGIS FLORIDA 2014 – Panhandle Oil and Gas Inc. – slide 23
    3P Undeveloped Reserves Per Debt Adjusted Share Reserves per Share 70.0 60.0 50.0 49.92 Mcfe/Share 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 are…
  24. IPAA OGIS FLORIDA 2014 – Panhandle Oil and Gas Inc. – slide 24
    Western Oklahoma Anadarko Basin 25 IPAA-OGIS Florida 2014 Ft Lauderdale, FL - February 12, 2014
  25. IPAA OGIS FLORIDA 2014 – Panhandle Oil and Gas Inc. – slide 25
    PHX Drilling Activity in Western Oklahoma and the Texas Panhandle Hemphill County Ellis County Cleveland Marmaton Cleveland Roger Mills County Marmaton Cleveland Beckham County Hogshooter Granite Wash 26…
  26. IPAA OGIS FLORIDA 2014 – Panhandle Oil and Gas Inc. – slide 26
    Anadarko & Ardmore Basin Woodford Shale's 27 IPAA-OGIS Florida 2014 Ft Lauderdale, FL - February 12, 2014
  27. IPAA OGIS FLORIDA 2014 – Panhandle Oil and Gas Inc. – slide 27
    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 and XTO Current…
  28. IPAA OGIS FLORIDA 2014 – Panhandle Oil and Gas Inc. – slide 28
    Anadarko Basin Cana Woodford Shale Core Core Development Area 29 IPAA-OGIS Florida 2014 Ft Lauderdale, FL - February 12, 2014
  29. IPAA OGIS FLORIDA 2014 – Panhandle Oil and Gas Inc. – slide 29
    Southern Anadarko Basin and Ardmore Basin Woodford 30 IPAA-OGIS Florida 2014 Ft Lauderdale, FL - February 12, 2014
  30. IPAA OGIS FLORIDA 2014 – Panhandle Oil and Gas Inc. – slide 30
    Arkansas Fayetteville Shale 31 IPAA-OGIS Florida 2014 Ft Lauderdale, FL - February 12, 2014
  31. IPAA OGIS FLORIDA 2014 – Panhandle Oil and Gas Inc. – slide 31
    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 13.2 Mmcfe per…
  32. IPAA OGIS FLORIDA 2014 – Panhandle Oil and Gas Inc. – slide 32
    Arkansas Fayetteville Shale 33 IPAA-OGIS Florida 2014 Ft Lauderdale, FL - February 12, 2014
  33. IPAA OGIS FLORIDA 2014 – Panhandle Oil and Gas Inc. – slide 33
    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…
  34. IPAA OGIS FLORIDA 2014 – Panhandle Oil and Gas Inc. – slide 34
    Southeastern Oklahoma Woodford Shale 35 IPAA-OGIS Florida 2014 Ft Lauderdale, FL - February 12, 2014
  35. IPAA OGIS FLORIDA 2014 – Panhandle Oil and Gas Inc. – slide 35
    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 4.6…
  36. IPAA OGIS FLORIDA 2014 – Panhandle Oil and Gas Inc. – slide 36
    Southeastern Oklahoma Woodford Shale Current Development Area 37 IPAA-OGIS Florida 2014 Ft Lauderdale, FL - February 12, 2014
  37. IPAA OGIS FLORIDA 2014 – Panhandle Oil and Gas Inc. – slide 37
    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 38 IPAA-OGIS Florida 2014 Ft Lauderdale, FL - February 12, 2014
  38. IPAA OGIS FLORIDA 2014 – Panhandle Oil and Gas Inc. – slide 38
    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% Panhandle…
  39. IPAA OGIS FLORIDA 2014 – Panhandle Oil and Gas Inc. – slide 39
    PHX LISTED NYSE

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