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IPAA OGIS NEW YORK 2015 – Contango Oil & Gas Co.

Contango Oil & Gas Co. · Apr 20, 2015 · 32 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 NEW YORK 2015 – Contango Oil & Gas Co. – slide 1
    Enhancing Value. Expanding the Opportunity. Disciplined Value Enhancement (NYSE Mkt: MCF) APRIL 20, 2015
  2. IPAA OGIS NEW YORK 2015 – Contango Oil & Gas Co. – slide 2
    CONTANGO OVERVIEW Exchange/Ticker: NYSE Mkt: MCF Daily Production (Q4:14) 106.2 Mmcfed LTM Adjusted EBITDAX Share Price (1): 22.36 197 million (12/31/14) Shares O/S: 19.1 million Proved PV-10 Value (3): 797 million Market 428…
  3. IPAA OGIS NEW YORK 2015 – Contango Oil & Gas Co. – slide 3
    CORE ASSET OVERVIEW SOUTH TEXAS ELM HILL PROJECT Fayette, Gonzales, Bastrop, Caldwell Counties EAST TEXAS Upside: James Lime, Haynesville / Mid-Bossier WYOMING N. CHEYENNE PROJECT Muddy Sandstone - Weston County WYOMING…
  4. IPAA OGIS NEW YORK 2015 – Contango Oil & Gas Co. – slide 4
    WHY INVEST IN CONTANGO 45.8 Mmboe (275 Bcfe) of proved reserves(1) Q4:14 production 106.2 Mmcfe/d Attractive Asset Base Strong cash flow 7X proved reserves (Bcfe) in unproved resource potential Operational control 80% SETX -…
  5. IPAA OGIS NEW YORK 2015 – Contango Oil & Gas Co. – slide 5
    RESERVE AND PRODUCTION PROFILE Proved Reserves (1)(2)(3) PV-10 (MM) Onshore 131 Bcfe 48% 347 44% Offshore 144 Bcfe 52% 450 56% 275 Bcfe 797 PD 209 Bcfe 76% 658 83% PUD 66 Bcfe 24% 139 17% 275 Bcfe 797 Natural Gas 180 Bcf 65% (1)…
  6. IPAA OGIS NEW YORK 2015 – Contango Oil & Gas Co. – slide 6
    2015 CAPITAL PROGRAM Investment Philosophy and Strategy As a result of the dramatic downturn in commodity prices, we will reduce our capital program to: Limit drilling expenditures to contractual or strategic minimums on our existing…
  7. IPAA OGIS NEW YORK 2015 – Contango Oil & Gas Co. – slide 7
    GROWTH POTENTIAL SUMMARY (PV-10) 3,000 2,500 2,000 66% Liquids 1,500 1,000 1.8 Bn PV-10 of Unproved Potential 500 35% Liquids 0 Proved (1) Madison / South Other STX - Elm Hill Wyoming - Wyoming - Total…
  8. IPAA OGIS NEW YORK 2015 – Contango Oil & Gas Co. – slide 8
    ONSHORE RESOURCE ASSETS LOW RISK, REPEATABLE LONG TERM GROWTH DRIVER Disciplined Value Enhancement (NYSE Mkt: MCF)
  9. IPAA OGIS NEW YORK 2015 – Contango Oil & Gas Co. – slide 9
    ONSHORE ASSET OVERVIEW SOUTH TEXAS ELM HILLPROJECT Fayette, Gonzales, Bastrop, Caldwell Counties EAST TEXAS WYOMING N. CHEYENNE PROJECT Upside: James Lime, Muddy Sandstone - Weston County Haynesville / Mid-Bossier WYOMING…
  10. IPAA OGIS NEW YORK 2015 – Contango Oil & Gas Co. – slide 10
    ONSHORE ASSET OVERVIEW (12/31/14) Onshore Reserves by Region Onshore Q4:14 Production by Region East Texas East Texas CO/Other 5% 5% 4% CO/Other 1% South Texas 32% South Texas 42% 131.4 Bcfe 38.0 Mmcfe/d Southeast Texas…
  11. IPAA OGIS NEW YORK 2015 – Contango Oil & Gas Co. – slide 11
    SETX MADISON & GRIMES COUNTIES (WOODBINE EF GEORGETOWN - BUDA) Disciplined Value Enhancement (NYSE Mkt: MCF)
  12. IPAA OGIS NEW YORK 2015 – Contango Oil & Gas Co. – slide 12
    MADISON / GRIMES HIGHLIGHTS Stacked pay zones in over 4,000 feet of productive stratigraphic column; primary target to-date is horizontal development of the Woodbine 25,900 gross (15,700 net) development acres operated in four…
  13. IPAA OGIS NEW YORK 2015 – Contango Oil & Gas Co. – slide 13
    WELL-POSITIONED FOR MULTIPLE-HORIZON DEVELOPMENT OPPORTUNITIES Over 4,000 of productive stratigraphic column Epicenter of recent industry activity utilizing modern drilling and completion techniques to both vertical and horizontal…
  14. IPAA OGIS NEW YORK 2015 – Contango Oil & Gas Co. – slide 14
    SETX WOODBINE PRODUCTION RESULTS MADISON Force Summary No. of Wells Drilled and Producing: 17 Avg. 30 Day IP: 793 Boed (95% Liquids) Chalktown Summary No. of Wells Drilled and Producing: 4 Avg. 30 Day IP: 777 Boed (92%…
  15. IPAA OGIS NEW YORK 2015 – Contango Oil & Gas Co. – slide 15
    STX ZAVALA & DIMMIT COUNTIES (EAGLE FORD SHALE) Disciplined Value Enhancement (NYSE Mkt: MCF)
  16. IPAA OGIS NEW YORK 2015 – Contango Oil & Gas Co. – slide 16
    STX EAGLE FORD OVERVIEW EAGLE FORD 9,500 net acres Zavala/Dimmit: 7,900 net acres Karnes: 1,100 net acres Bee: 500 acres 76% HBP 212 Locations (80-100 acre spacing) EURs: 350-450 Mboe Net potential: 33 Mmboe Well Costs:…
  17. IPAA OGIS NEW YORK 2015 – Contango Oil & Gas Co. – slide 17
    STX EAGLE FORD AND BUDA RESULTS (30 DAY IP) Contango Acreage Contango Buda Well Contango Eagle Ford Well Buda Wells Wells Drilled and Producing: 20 Avg. 30 Day IP (Boepd): 612 Zavala KM Ranch 2H Beeler 1H 268 Boed 142…
  18. IPAA OGIS NEW YORK 2015 – Contango Oil & Gas Co. – slide 18
    NEW RESOURCE PLAYS Disciplined Value Enhancement (NYSE Mkt: MCF)
  19. IPAA OGIS NEW YORK 2015 – Contango Oil & Gas Co. – slide 19
    STX ELM HILL PROJECT OVERVIEW ELM HILL PROJECT 25,100 net acres Fayette / Gonzales Counties, Texas 50% WI, Operator 200 Locations (Cretaceous Sands) EURs: 175 225 Mmboe Net Potential: 14 - 20 Mmboe Bastrop Development Well…
  20. IPAA OGIS NEW YORK 2015 – Contango Oil & Gas Co. – slide 20
    WYOMING FRAMS PROJECT OVERVIEW FRAMS PROJECT Johnson Campbell 70,000 net acres Natrona County, Wyoming Converse 60% WI Drill to earn MCF State 35-79-16 Mowry Shale Frontier Sands (Completing) 300 Locations EURs: 250 350…
  21. IPAA OGIS NEW YORK 2015 – Contango Oil & Gas Co. – slide 21
    WYOMING NORTH CHEYENNE PROJECT OVERVIEW N. CHEYENNE Sheridan Campbell 35,000 net acres Crook Weston County, Wyoming 80% WI Drill to earn Muddy Sandstone formation 200 Locations Johnson EURs: 250 350 Mmboe MCF Test Well…
  22. IPAA OGIS NEW YORK 2015 – Contango Oil & Gas Co. – slide 22
    N. CHEYENNE LEASEHOLD WITH HISTORICAL NON CHANNEL MUDDY PRODUCERS 2,300 BO 1,000 BO 17,000 BO 16,400 BO 8,300 BO 132,700 BO 22571 82,500 BO 22529 1,000 BO 213,000 BO 22743 7,500 BO 35,000 BO 20824 11,000 BO 15,000 BO…
  23. IPAA OGIS NEW YORK 2015 – Contango Oil & Gas Co. – slide 23
    OTHER ONSHORE OPPORTUNITIES Disciplined Value Enhancement (NYSE Mkt: MCF)
  24. IPAA OGIS NEW YORK 2015 – Contango Oil & Gas Co. – slide 24
    ETX JAMES LIME OVERVIEW JAMES LIME 4,300 net acres San Augustine County 69% HBP 25-50 Locations James Lime Wells EURs: 2-3 Bcfe Haynesville/Mid-Bossier Production Contango Acreage Net Potential: 114 Bcfe Shelby Well Costs:…
  25. IPAA OGIS NEW YORK 2015 – Contango Oil & Gas Co. – slide 25
    COLORADO NIOBRARA PLAY NIOBRARA PLAY 11,200 net acres Majority in Adams County 178 Locations EUR: 300-500 Mboe(1) Net Potential: 3.3 Mmboe(1) Contango acreage Well Costs: 5.0 %6.0 million Contango WELD Amoco State…
  26. IPAA OGIS NEW YORK 2015 – Contango Oil & Gas Co. – slide 26
    FUNDING THE FUTURE BALANCE SHEET STRENGTH SUPPORTS GROWTH OBJECTIVES Disciplined Value Enhancement (NYSE Mkt: MCF)
  27. IPAA OGIS NEW YORK 2015 – Contango Oil & Gas Co. – slide 27
    STRONG FINANCIAL CONDITION Strong Balance Sheet 12/31/14 12/31/13 in millions Balance Sheet Data: Cash 0 0 Senior Debt 63 90 Shareholders Equity 567 593 Total Capitalization 630 683 Credit Statistics: Net Debt / Book…
  28. IPAA OGIS NEW YORK 2015 – Contango Oil & Gas Co. – slide 28
    LIQUIDITY Condensed Income Statement Fiscal Year Pro Forma Ended Twelve Months Ended in millions 12/31/14 12/31/13(2) Operating Revenues 276 257 Operating Expenses 47 54 Exploration Expenses (1) 33 3 Depreciation,…
  29. IPAA OGIS NEW YORK 2015 – Contango Oil & Gas Co. – slide 29
    PEER COMPARABLES EV/ RESERVES (/MCFE) 7.00 6.17 6.00 5.00 4.32 4.00 3.59 3.33 3.20 3.11 3.10 3.06 2.95 2.83 2.76 2.73 3.00 1.87 2.00 1.39 1.12 1.00 - Peer 1 Peer 2 Peer 3 Peer 4 Peer 5 Peer 6 Peer 7 Average Peer 8 Peer 9 Peer 10…
  30. IPAA OGIS NEW YORK 2015 – Contango Oil & Gas Co. – slide 30
    WHY INVEST IN CONTANGO 45.8 Mmboe (275 Bcfe) of proved reserves(1) Q4:14 production 106.2 Mmcfe/d Attractive Asset Base Strong cash flow 7X proved reserves (Bcfe) in unproved resource potential Operational control 80% SETX -…
  31. IPAA OGIS NEW YORK 2015 – Contango Oil & Gas Co. – slide 31
    OFFSHORE ASSET OVERVIEW Reserve PV-10 Production (Q4 2014) % Bcfe % Category (MM) Natural Gas (MMcf/d) 56.0 82% PD 144 450 100% Oil and condensate (Mbbl/d) 0.6 5% PUD 0 0 0% NGL (Mbbl/d) 1.4 13% Total 144 450 100% Total…
  32. IPAA OGIS NEW YORK 2015 – Contango Oil & Gas Co. – slide 32
    MAJOR OFFSHORE ASSETS Eugene Island 11 Vermilion 170 Company-owned and operated Company-owned and operated 10 producing wells drilled from 2006 2010 Single well structure drilled in 2011 Companion platform and two pipelines to…

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