NYSE:CRK Delaware Bassin Acquisition Decemb ber 6, 2011
Acquisition i i i Summary S Seller Eag gle Oil & Gas Co. and partners Purchase Price 33 32.7 million Effective Date Nov vember 1, 2011 Estimated Closing Date Deccember 30, 2011 Properties 68,0 000 gross (44,000 net) acres…
M jor Maj j P Properties i San Juan Basin E. Texas / N. Louisiana 2010 Proved Reserves - 870 Bcfe West Texas Wells - 936 Est. Proved Reserves 139 Bcfe Wells - 34 Drew Waskom Terryville Blocker Texas Beckville L…
Permiian i Basin i Activity A i i MIDLAND BASIN Eagle O&G DEL LAWARE Acquisition. Acquisition B BASIN Reeves Co., Tx Activity in Permian Basin increasing due to emergence of oil and liq ids rich plays liquids pla s…
Permian i Basin B i Geologic G i Setting S i MIDLAND DELAWARE CENTRAL BASIN PLATFORM BASIN BASIN Eagle O&G Acquisition. Reeves Co., Tx Properties being acquired are in the southern Delaware Basinn which is…
Delawa are Basin i Overview O i CENTRAL BASIN MIDLAND PLATFORM BASIN DELAWARE BASIN WEST SAN ANDRES EAST CLEAR FORK DELAWARE WOLFCAMP SANDS PENN & PRE-PEN SPRABERRY BONE SPRING WOLFCAMP SHALES SHALES WOLFCAMP…
Reevees County, C Texas 68,000 68 000 gross (44 (44,00000 net) acres Over 900 net verttical locations targeting the Wolfbone play Total resource po otential of 178,000 MBOE Horizontal develoopment upside 8
Reeves Cou C unty Drilling i i Activity A i i Calculated EURs On Recent Wells 150 200 MBOE 200 250 MBOE 250 MBOE A Acquired i d Acreag A ge is i Largely L l De-Risked D Ri k d by b Drilling D illi 9
20122 Drilling i i Plans 34 (21.4 net) existingg wells ( ) Plan to drill 46 (40.2 net) wells in 2012 ( ) Drill and complete costs - 4 to 4.5 million EURs - 180 to 250 MBOE 30 dday IPs IP -150 150 to 300 BOE per day Depth…
Si ifi nt Horizontal Significan i Upside i Vertical Target Horizontal Potential 11
Horizontal i Ac Activity i i ini Delaware Basin i Eagle O&G Acquisition 12
R i d 20012 D Revised Drilling illi Program P in millions Capital Expenditures Gross WI Net 700 Field Budget Wells Wells 534 545 East Texas/North Louisiana: Logansport 15.8 8 2.5 Mansfield 8.6 5 1.0 Toledo Bend North 23.7…
Impa act to Comstock C 2012 Revised 2012 g Program Program g Production Increase 8-12% 13-17% Oil % of Total Productio on 10-12% 14-16% Oil % of Total Revenues 30-34% 39-43% Drilling Expenditures 381 million 545…
Focus on Maiintaining a Conservative Fin nancial Profile We plan to supplement our operating cash flow in 2012 with proceeds from p p planned divestitures Intend to sell certaiin properties which is expected to generate proceeds…
2 2012 Hedges As of December 5, 2011 Oil Swaps: Volume (Bbls) 720,000 YMEX price (Bbl) (a) NY 99 00 99.00 (a) The index price for the e oil contracts are based on the NYMEX-West Texas Intermediate month hly average future…
C Comstocks Eagle E Ford Shale S A Acreage Gross Acres 32,000 32 000 Net Acres 28,000 Well Spacing 100 Acres Per Well 400 MBOE Reserves Resource 83 MMBOE* Potential *Assumes 26% Royalty Interest 17
C Comstocks Eagle E Ford Shale S Wells Coates 1H (538 BOE/day) Juppe 1H (293 B BOE/day)* NWR 1H (419 BOE/day) Cutter Creek 1H (608 BOE/day) RTH 1H Carlson 1H (496 BOE/day) (585 BOE/day) S Swenson 1H (1,264…
S Summary Strong reserve growth in reccent years from unconventional shale development Proved reserves grew by 455% in 2010 at an attractive all in finding costs of 1.26 per Mcfe Expect solid reserve growth h in 2011 with…
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