Alta Mesa Holdings, LP Investor Presentation New York August 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) Stacked pay: horizontal development of…
Business Philosophy 2013 Achievements Reflect Consistent Management Philosophy Management Philosophy Performance Strong, Develop and expand a balanced portfolio of de-risked Grew 2013 reserve volumes 17% and PV10 54% Balanced…
Continuous Asset Optimization 2014 Operational Focus Legacy Asset Areas and Frontier Areas Drilling capital predominately allocated to development of Core Minimal CAPEX required to Assets: Eagle Ford, Weeks Island Area, Sooner Trend…
2014 Capital Plan Continued Focus on High Margin Liquids Rich Projects CAPEX by Major Areas (MMs) Drilling, Completion, and Infrastructure CAPEX by Area 180 Capital Allocation 2014 capital budget 360 million 160 78% allocated to…
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) YE2010 YE2011 YE2012 July2014 (Prompt Year 2011) (Prompt Year 2012)…
Core Asset Operations & Opportunities
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 Gas…
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 Initial 20-acre staggered spacing with…
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 July14 Production 5,748 BOEPD % Liquids…
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 26…
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 July14…
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…
Meramec Operated Development Program Continuous multi rig operated horizontal program, building on 200+ vertical well results Significant Growth Since Start of Multi Rig Program Meramec 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…
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