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FEBRUARY 2014 CORPORATE PRESENTATION – Contango Oil & Gas Co.

Contango Oil & Gas Co. · Feb 18, 2014 · 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. FEBRUARY 2014 CORPORATE PRESENTATION – Contango Oil & Gas Co. – slide 1
    Enhancing Value. Expanding the Opportunity. Enhancing Value. FEBRUARY 18, 2014 Expanding the Opportunity. (NYSE Mkt: MCF)
  2. FEBRUARY 2014 CORPORATE PRESENTATION – Contango Oil & Gas Co. – slide 2
    CORPORATE OVERVIEW Exchange/Ticker: NYSE Mkt: MCF Share Price(1): 41.96 Market Capitalization(2): 812.5 million Enterprise Value(2): 902.5 million Combined Daily Production (Q4:13) (3) 110 Mmcfed Combined Proved PV-10 Value(3)…
  3. FEBRUARY 2014 CORPORATE PRESENTATION – Contango Oil & Gas Co. – slide 3
    CORE ASSET OVERVIEW Shallow GOM Colorado Wyoming/Jonah Field DJ Basin Onshore 5.6 Bcfe / 0.5 Mmcfed Equity investment in Exaro Energy III Tuscaloosa Marine Shale 0.2 Bcfe / 0.2 Mmcfed East Texas Vermilion 170…
  4. FEBRUARY 2014 CORPORATE PRESENTATION – Contango Oil & Gas Co. – slide 4
    DIVERSIFIED ASSET PROFILE Reserves / Production Q4 2013 Production(1) 60% shallow water GOM Strong cash flow; high impact NGLs 40% onshore resource plays 14% Onshore TX Gulf Coast 35% Low risk, repeatable; long term growth…
  5. FEBRUARY 2014 CORPORATE PRESENTATION – Contango Oil & Gas Co. – slide 5
    GROWTH POTENTIAL SUMMARY PV-10 (1) 3,500 3,580 3,000 2,500 PV-10 MM (1) 2,000 1,500 2.6 Bn PV-10 of Unproved Potential 1,000 987 500 0 (1) (2) (4) Proved Reserves Madison / STX - Eagle Ford GoM James Lime…
  6. FEBRUARY 2014 CORPORATE PRESENTATION – Contango Oil & Gas Co. – slide 6
    SHALLOW GULF OF MEXICO HIGH IMPACT CASH FLOW TO FUND LOW RISK GROWTH OBJECTIVES Enhancing Value. Expanding the Opportunity. (NYSE Mkt: MCF)
  7. FEBRUARY 2014 CORPORATE PRESENTATION – Contango Oil & Gas Co. – slide 7
    OFFSHORE ASSET OVERVIEW Reserve PV-10 Production (Q4 2013) % Bcfe % Category (MM) Natural Gas MMcf/d) 54.4 78% PD 187.9 541.2 98% Oil and condensate (Mbbl/d) 0.8 7% PUD 2.6 13.3 2% NGL (Mbbl/d) 1.7 15% Total 190.5 554.5 100%…
  8. FEBRUARY 2014 CORPORATE PRESENTATION – Contango Oil & Gas Co. – slide 8
    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…
  9. FEBRUARY 2014 CORPORATE PRESENTATION – Contango Oil & Gas Co. – slide 9
    GOM PROSPECT INVENTORY Highlights LOUISIANA COAST East Cameron 124 7 existing drill-ready shallow-water prospects Ave. EUR: 28 Bcfe Eugene Island 23 73% Gas Well Costs: Ave. DHC: 16 MM Eugene Island 31 Ave. CC: 12 MM Ave.…
  10. FEBRUARY 2014 CORPORATE PRESENTATION – Contango Oil & Gas Co. – slide 10
    ONSHORE RESOURCE ASSETS LOW RISK, REPEATABLE LONG TERM GROWTH DRIVER Enhancing Value. Expanding the Opportunity. (NYSE Mkt: MCF)
  11. FEBRUARY 2014 CORPORATE PRESENTATION – Contango Oil & Gas Co. – slide 11
    ONSHORE ASSET OVERVIEW Reserve PV-10 Production (Q4 2013) % Bcfe % PV Category (MM) Natural Gas MMcf/d) 17.7 44% PD 67.7 253.5 59% Oil and condensate (Mbbl/d) 2.8 42% PUD 55.7 179.1 41% NGL (Mbbl/d) 1.0 14% Total 123.3…
  12. FEBRUARY 2014 CORPORATE PRESENTATION – Contango Oil & Gas Co. – slide 12
    ONSHORE RESOURCE OPPORTUNITIES (1) Locations MMBoe NPV 10% (MM) % Liquids First Tier Opportunities 2014 Total Force (SETX Woodbine) 11 24 6 172 93% Iola/Grimes (Woodbine) 2 59 24 166 39% Chalktown (Woodbine) 6 47 11 93 70%…
  13. FEBRUARY 2014 CORPORATE PRESENTATION – Contango Oil & Gas Co. – slide 13
    SETX MADISON / GRIMES WOODBINE LOW RISK, REPEATABLE LONG TERM GROWTH DRIVER Enhancing Value. Expanding the Opportunity. (NYSE Mkt: MCF)
  14. FEBRUARY 2014 CORPORATE PRESENTATION – Contango Oil & Gas Co. – slide 14
    MADISON AND GRIMES INDUSTRY OVERVIEW HK HK Pay Zones ECA Silver Oak Cubic Eocene Wilcox Samson Navidad Midway Madison ENEXP Austin EOG Navidad Chalk ECA DVN Sub Cville DVN Burk Woodbine Lewisville FORCE Dexter EV EOG…
  15. FEBRUARY 2014 CORPORATE PRESENTATION – Contango Oil & Gas Co. – slide 15
    CONTANGO'S WOODBINE EXPOSURE MADISON/GRIMES COUNTY Highlights Force Area Results Chalktown Results Wells Producing: 13 Madison Wells Producing: 2 Avg. 24-Hr IP: 1,138 Boepd 19,000 net acres Avg. 30-Day IP: 933 Boepd County Avg.…
  16. FEBRUARY 2014 CORPORATE PRESENTATION – Contango Oil & Gas Co. – slide 16
    FORCE AREA DRILLING PERFORMANCE 12 13 Highlights TOTAL DRILL (M) TOTAL COMP (M) TOTAL (M) 12,500 Focus on efficiency Per well cost 6-7.5 mm; down from 8 - 10 MM 10,000 44% reduction in drilling days 42% reduction in…
  17. FEBRUARY 2014 CORPORATE PRESENTATION – Contango Oil & Gas Co. – slide 17
    GEORGETOWN/EAGLE FORD/GLEN ROSE/BUDA FORMATIONS MADISON/GRIMES COUNTY Competitor Activity Georgetown / Glen Rose wells New Georgetown/Buda well New Eagle Ford well Eagle Ford Drilling Nearby Contango acreage HK, EOG, ECA,…
  18. FEBRUARY 2014 CORPORATE PRESENTATION – Contango Oil & Gas Co. – slide 18
    STX BUDA / EAGLE FORD LOW RISK, REPEATABLE LONG TERM GROWTH DRIVER Enhancing Value. Expanding the Opportunity. (NYSE Mkt: MCF)
  19. FEBRUARY 2014 CORPORATE PRESENTATION – Contango Oil & Gas Co. – slide 19
    STX BUDA OVERVIEW ZAVALA/DIMMIT COUNTY Highlights Offset Activity Buda Results Contango acreage Wells Producing: 5 Avg. 24-Hr IP: 1,049 Boepd 5,700 net acres Avg. 30-Day IP: 730 Boepd Booth-Tortuga Area 90 % HBP 19 Gross…
  20. FEBRUARY 2014 CORPORATE PRESENTATION – Contango Oil & Gas Co. – slide 20
    BUDA DRILLING PERFORMANCE 2013 Highlights TOTAL DRILL (M) TOTAL COMP (M) TOTAL (M) Focus on efficiency 7,500 Per well cost 3-4 mm; down from 3.5 - 5 MM 6,000 48% reduction in drilling days on last two wells 17% reduction in…
  21. FEBRUARY 2014 CORPORATE PRESENTATION – Contango Oil & Gas Co. – slide 21
    STX EAGLE FORD OVERVIEW Highlights Eagle Ford Producers Contango acreage 8,400 net acres 90% HBP Zavala/Dimmit: 6,900 net ZAVALA Zavala acres Karnes: 1,100 net acres Bee: 400 acres 215 Locations EURs: 350-450 Mboe(1)…
  22. FEBRUARY 2014 CORPORATE PRESENTATION – Contango Oil & Gas Co. – slide 22
    OTHER ONSHORE LOW RISK, REPEATABLE LONG TERM GROWTH DRIVER Enhancing Value. Expanding the Opportunity. (NYSE Mkt: MCF)
  23. FEBRUARY 2014 CORPORATE PRESENTATION – Contango Oil & Gas Co. – slide 23
    ETX -- JAMES LIME OVERVIEW SAN AUGUSTINE/SABINE COUNTIES Highlights DVN (Competitor) Wells Drilled: 10 Avg. IP (boepd): 890 4,800 net acres San Augustine and Sabine Counties 90% HBP 2 Gross wells planned for 2014 8 MM,…
  24. FEBRUARY 2014 CORPORATE PRESENTATION – Contango Oil & Gas Co. – slide 24
    NIOBRARA PLAY COLORADO ACTIVITY Niobrara Highlights 10,000 net acres 90% HBP Adam/Weld/Arapahoe Contango Contango Counties Amoco State 4416H Amoco State 4416H 1 Gross well planned for 2014 ADAMS 3 MM, net DENVER 21…
  25. FEBRUARY 2014 CORPORATE PRESENTATION – Contango Oil & Gas Co. – slide 25
    TUSCALOOSA MARINE SHALE Asset Overview Adams Franklin Initial entry in to play Goodrich Huff 18-7H 25% non-operating WI in the Concordia Goodrich Crosby 1H Max Month IP: 913 Boe/d Goodrich Crosby 12H-1 well Cum: 116 MBO…
  26. FEBRUARY 2014 CORPORATE PRESENTATION – Contango Oil & Gas Co. – slide 26
    FUNDING THE FUTURE BALANCE SHEET STRENGTH SUPPORTS GROWTH OBJECTIVES Enhancing Value. Expanding the Opportunity. (NYSE Mkt: MCF)
  27. FEBRUARY 2014 CORPORATE PRESENTATION – Contango Oil & Gas Co. – slide 27
    LIQUIDITY Strong Pro Forma Balance Sheet Contango in millions As Adjusted (9/30/13) (1) Balance Sheet Data: Cash 10 Senior Debt 110 Stockholders Equity 580 Total Capitalization 690 Credit Statistics: Net Debt / Book…
  28. FEBRUARY 2014 CORPORATE PRESENTATION – Contango Oil & Gas Co. – slide 28
    2014 CAPITAL PROGRAM Development Strategy Fund exploration and development with cash flow Primary focus on liquids-rich onshore resource plays complemented with potentially high-impact GoM prospects Advantage of being…
  29. FEBRUARY 2014 CORPORATE PRESENTATION – Contango Oil & Gas Co. – slide 29
    INVESTMENT HIGHLIGHTS Attractive asset base 52.3 Mmboe (313.9 Bcfe) of proved reserves(1) 4 x unproved reserve potential Operational control 80% Near term catalysts Horizontal Woodbine/Lewisville/Georgetown STX Buda and Eagle…
  30. FEBRUARY 2014 CORPORATE PRESENTATION – Contango Oil & Gas Co. – slide 30
    APPENDIX Enhancing Value. Expanding the Opportunity. (NYSE Mkt: MCF)
  31. FEBRUARY 2014 CORPORATE PRESENTATION – Contango Oil & Gas Co. – slide 31
    MANAGEMENT Current Position and Past Experience President, Chief Executive Officer and Director President/CEO, Crimson Exploration Inc. (since 2005) Allan D. Keel VP / GM, Westport Resources President / COO, Mariner Energy &…
  32. FEBRUARY 2014 CORPORATE PRESENTATION – Contango Oil & Gas Co. – slide 32
    Enhancing Value. Expanding the Opportunity. (NYSE Mkt: MCF)

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