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Enercom's The Oil and Services Conference – Panhandle Oil and Gas Inc.

Panhandle Oil and Gas Inc. · Feb 18, 2015 · 44 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. Enercom's The Oil and Services Conference – Panhandle Oil and Gas Inc. – slide 1
    PHX LISTED NYSE
  2. Enercom's The Oil and Services 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 principally with the largest E&Ps Selective participation with working interest in most economically…
  3. Enercom's The Oil and Services 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. Enercom's The Oil and Services Conference – Panhandle Oil and Gas Inc. – slide 4
    PHX Business Model Lower Risk, Higher Returns Direct Ownership Of Mineral Rights = THE MINERAL ACREAGE ADVANTAGE PHX mineral acreage has extremely low cost basis (approximately 90/acre) Minerals ownership lowers PHX well costs verses…
  5. Enercom's The Oil and Services 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: 40 W.I. NRI 1.2 35 19% Lower…
  6. Enercom's The Oil and Services 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. Enercom's The Oil and Services Conference – Panhandle Oil and Gas Inc. – slide 7
    PHX Business Model Diversified Revenue Sources 75% 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. Enercom's The Oil and Services 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 90 12 80 10 70 60 8 50 6 40 30 4 20 2 10 0 0 2004 2005 2006 2007 2008 2009…
  9. Enercom's The Oil and Services Conference – Panhandle Oil and Gas Inc. – slide 9
    Financial Highlights - Fiscal 2015 CONDENSED BALANCE SHEET DECEMBER 31, 2014 Current assets 27,276,525 Property and equipment 441,077,980 Less accumulated DD&A (210,823,119) Net property and equipment 230,254,861 Other 2,053,420…
  10. Enercom's The Oil and Services Conference – Panhandle Oil and Gas Inc. – slide 10
    Financial Highlights Fiscal First Quarter 2015 FIRST QUARTER DECEMBER 31, 2014 2013 Oil, NGL and natural gas sales 19,519,700 18,473,082 Total revenue (1) 30,999,170 18,396,756 Net income 10,233,761 4,926,318 Earnings per share…
  11. Enercom's The Oil and Services Conference – Panhandle Oil and Gas Inc. – slide 11
    Price Risk Mitigation Through Hedging DURATION MONTHLY VOLUME PRICES Gas Nov 2014-April 2015 100,000 mmbtu 3.75 floor/4.25 ceiling Jan-Dec 2015 100,000 mmbtu 3.50 floor/4.10 ceiling Jan-Dec 2015 70,000 mmbtu 3.25 floor/4.00 ceiling…
  12. Enercom's The Oil and Services Conference – Panhandle Oil and Gas Inc. – slide 12
    Asset Pyramid Non-proved undeveloped reserves on fee mineral acres and held by production leasehold in the Eagle Ford Shale, Probable Fayetteville Shale, Oklahoma Woodford Shales and Western and Oklahoma/Texas Panhandle horizontal…
  13. Enercom's The Oil and Services Conference – Panhandle Oil and Gas Inc. – slide 13
    10 15 20 25 30 0 5 12. 31 .19 99 12. 31 .20 00 12. 31 .20 01 12. 31 .20 02 12. 31 .20 03 12. 31 .20 04 PHX Stock Price History Fifteen-Year Share Price Growth 12. 31 .20 05 12. 31 .20…
  14. Enercom's The Oil and Services Conference – Panhandle Oil and Gas Inc. – slide 14
    Panhandles Mineral Acreage Strategy Results Ability to maximize return on Company assets through working interest participation in wells drilled on mineral acreage or taking lease bonus payments and non-cost bearing royalty interests…
  15. Enercom's The Oil and Services Conference – Panhandle Oil and Gas Inc. – slide 15
    February 2015 Operations Update Current Environment 2015 NYMEX Futures oil prices are 45/bbl in March to 53/bbl in December NYMEX Futures oil prices dont reach 65/bbl until mid-2018 Oil resource play horizontal wells have high…
  16. Enercom's The Oil and Services Conference – Panhandle Oil and Gas Inc. – slide 16
    February 2015 Operations Update (Continued) Reaction by Operators of PHX Properties Our Eagle Ford Shale operator has elected to defer the completion of six wells drilled in the 1st quarter of 2015 and has released the drilling rig…
  17. Enercom's The Oil and Services Conference – Panhandle Oil and Gas Inc. – slide 17
    February 2015 Operations Update (Continued) PHX Assessment Panhandle plans to only participate in those wells that will earn a reasonable rate of return in the current price environment or will preserve strategic future working…
  18. Enercom's The Oil and Services Conference – Panhandle Oil and Gas Inc. – slide 18
    Mineral Holdings Significant Mineral Acreage Holdings 120 Net Acres (Thousands) 100 80 60 40 20 0 19 OK NM TX ND AR Leasehold EnerComs The Oil & Services Conference San Francisco-February 18-19, 2015
  19. Enercom's The Oil and Services Conference – Panhandle Oil and Gas Inc. – slide 19
    Reserve Statistics Exceptional Reserve Growth Proved reserves at Year-End 2014 Proved reserves increased 36% as compared to YE 2013 to 206.2 Bcfe SEC Flat Pricing PV10 - 370 million (4.04/Mcf, 96.94/Bo & 31.45/Bngl wellhead) NYMEX…
  20. Enercom's The Oil and Services Conference – Panhandle Oil and Gas Inc. – slide 20
    MCFE 1,000,000 1,500,000 2,000,000 2,500,000 3,000,000 3,500,000 4,000,000 4,500,000 500,000 0 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 9.3 0. 2 009 12.…
  21. Enercom's The Oil and Services Conference – Panhandle Oil and Gas Inc. – slide 21
    Year-End 2014 Reserves and First Quarter 2015 Production and Revenue by Product Gas NGL Oil 120 100 22% 18% 31% 30% 80 42% 9% 12% 52% 60 10% 40 69% 70% 48% 20 0 Year-End First Quarter First Quarter 2014 2015…
  22. Enercom's The Oil and Services Conference – Panhandle Oil and Gas Inc. – slide 22
    Unit Costs Per MCFE DD&A LOE/Prod Tax G&A 8.00 7.00 6.00 5.00 Total /Mcfe 4.51 Total 4.24 Total 0.65 3.87 4.00 0.49 Total Total Total Total 0.63 3.43 3.40 3.27 3.26 1.30 0.90 3.00 0.67 0.60 0.52 0.53 1.08 1.11…
  23. Enercom's The Oil and Services Conference – Panhandle Oil and Gas Inc. – slide 23
    Annual Production Per Debt Adjusted Share Gas-Mcf Oil & NGL Mcfe Gross Producing Wells 2.00 7,000 1.80 6,105 6,019 6,000 Total 5,666 1.60 1.63 Total 5,107 1.50 1.40 5,000 4,989 0.38 4,861 0.24 Total Gross Producing…
  24. Enercom's The Oil and Services Conference – Panhandle Oil and Gas Inc. – slide 24
    Proved Reserves Per Debt Adjusted Share Proved Developed Reserves Per Share Proved Undeveloped Reserves Per Share 28.00 26.00 Total 23.84 24.00 22.00 20.00 Mcfe/Share Total 10.51 18.00 17.56 16.00 Total 6.79 Total…
  25. Enercom's The Oil and Services Conference – Panhandle Oil and Gas Inc. – slide 25
    3P Undeveloped Reserves Per Debt Adjusted Share Reserves per Share 70.0 60.0 50.0 Mcfe/Share 49.92 50.01 40.0 41.63 38.99 41.03 30.0 27.52 20.0 19.69 10.0 0.0 2008 2009 2010 2011 2012 2013 2014 Debt…
  26. Enercom's The Oil and Services Conference – Panhandle Oil and Gas Inc. – slide 26
    Eagle Ford Locator Map PHX 27 EnerComs The Oil & Services Conference San Francisco-February 18-19, 2015
  27. Enercom's The Oil and Services Conference – Panhandle Oil and Gas Inc. – slide 27
    Eagle Ford 28 EnerComs The Oil & Services Conference San Francisco-February 18-19, 2015
  28. Enercom's The Oil and Services Conference – Panhandle Oil and Gas Inc. – slide 28
    Eagle Ford Average production January 2015 749 Boepd 72 producing wells (66 Eagle Ford, 5 Pearsall and one Buda), 6 wells waiting on completion 102 additional undeveloped Eagle Ford locations Proved Reserves 77% Crude Oil, 13% NGL…
  29. Enercom's The Oil and Services Conference – Panhandle Oil and Gas Inc. – slide 29
    PHX Eagle Ford Shale Leasehold Acreage and Active Wells 30 EnerComs The Oil & Services Conference San Francisco-February 18-19, 2015
  30. Enercom's The Oil and Services Conference – Panhandle Oil and Gas Inc. – slide 30
    Western Oklahoma Anadarko Basin 31 EnerComs The Oil & Services Conference San Francisco-February 18-19, 2015
  31. Enercom's The Oil and Services Conference – Panhandle Oil and Gas Inc. – slide 31
    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…
  32. Enercom's The Oil and Services Conference – Panhandle Oil and Gas Inc. – slide 32
    Cana Woodford and SCOOP 33 EnerComs The Oil & Services Conference San Francisco-February 18-19, 2015
  33. Enercom's The Oil and Services Conference – Panhandle Oil and Gas Inc. – slide 33
    Cana Woodford and SCOOP 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 Current production…
  34. Enercom's The Oil and Services Conference – Panhandle Oil and Gas Inc. – slide 34
    Cana Woodford and SCOOP Devon, Cimarex Cana Woodford Continental, Newfield, Marathon SCOOP Woodford/Springer XTO 35 EnerComs The Oil & Services Conference San Francisco-February 18-19, 2015
  35. Enercom's The Oil and Services Conference – Panhandle Oil and Gas Inc. – slide 35
    Arkansas Fayetteville Shale 36 EnerComs The Oil & Services Conference San Francisco-February 18-19, 2015
  36. Enercom's The Oil and Services Conference – Panhandle Oil and Gas Inc. – slide 36
    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 14.2 Mmcfe…
  37. Enercom's The Oil and Services Conference – Panhandle Oil and Gas Inc. – slide 37
    Arkansas Fayetteville Shale SWN, XTO 38 EnerComs The Oil & Services Conference San Francisco-February 18-19, 2015
  38. Enercom's The Oil and Services Conference – Panhandle Oil and Gas Inc. – slide 38
    The Panhandle Oil and Gas Advantage Broadly diversified perpetual mineral holding/growing HBP leasehold Total US mineral ownership of 255,000 acres with geographic and product diversity Substantial advantage in capital efficiency…
  39. Enercom's The Oil and Services Conference – Panhandle Oil and Gas Inc. – slide 39
    Southeastern Oklahoma Woodford Shale 40 EnerComs The Oil & Services Conference San Francisco-February 18-19, 2015
  40. Enercom's The Oil and Services Conference – Panhandle Oil and Gas Inc. – slide 40
    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 4.0…
  41. Enercom's The Oil and Services Conference – Panhandle Oil and Gas Inc. – slide 41
    Southeastern Oklahoma Woodford Shale Current Development Area Newfield, Devon, BP, Petroquest, XTO 42 EnerComs The Oil & Services Conference San Francisco-February 18-19, 2015
  42. Enercom's The Oil and Services Conference – Panhandle Oil and Gas Inc. – slide 42
    Year-End 2014 SEC Proved Reserves 43 EnerComs The Oil & Services Conference San Francisco-February 18-19, 2015
  43. Enercom's The Oil and Services Conference – Panhandle Oil and Gas Inc. – slide 43
    Year-End 2014 Proved, Probable and Possible Reserves 44 EnerComs The Oil & Services Conference San Francisco-February 18-19, 2015
  44. Enercom's The Oil and Services Conference – Panhandle Oil and Gas Inc. – slide 44
    PHX LISTED NYSE

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