Enhancing Value. Expanding the Opportunity. GHS 100 ENERGY CONFERENCE JUNE 23, 2015 Disciplined Value Enhancement Disciplined Value Enhancement (NYSE Mkt: MCF)
CONTANGO OVERVIEW Exchange/Ticker: NYSE Mkt: MCF Daily Production (Q1:15) (4) 111 Mmcfed LTM Adjusted EBITDAX Share Price (1): 12.71 153 million (3/31/15) Shares O/S: 19.4 million Proved PV-10 Value (3,4): 898 million Market…
WHY INVEST IN CONTANGO 57.6 Mmboe (345 Bcfe) of proved reserves(1,2) Q1:15 production 111 Mmcfe/d(2) Proven Developed Strong and stable cash flow Asset Base 80% of proved value is developed 80% Operated 3X proved reserves in…
RESERVE AND PRODUCTION PROFILE Proved Reserves 345 Bcfe (1)(2) Exaro 20% Offshore 42% Onshore 38% Oil/Liquids 29% Natural Gas 71% PUD 24% PD (1) Includes 70.3 Bcfe of reserves attributable to our 37% 76% equity…
RESERVE AND PRODUCTION PROFILE Proved Reserves PV-10 345 Bcfe (1)(2) 898 MM (1)(2) Exaro Exaro 20% 11% Offshore 42% Onshore Offshore Onshore 39% 50% 38% Oil/Liquids 29% Natural Gas 71% PUD PUD 24% 17% (1) Includes…
RESERVE AND PRODUCTION PROFILE Proved Reserves PV-10 Q1 Production 345 Bcfe (1)(2) 898 MM (1)(2) 111 Mmcfe/d (1) Exaro Exaro Exaro 20% 11% 13% Offshore 42% Onshore Offshore Onshore Offshore Onshore 39% 50% 29% 58% 38%…
RESERVE AND PRODUCTION PROFILE Proved Reserves PV-10 Q1 Production Q1 Revenue 345 Bcfe (1)(2) 898 MM (1)(2) 111 Mmcfe/d (1) 50.2 MM Exaro Exaro Exaro 20% 11% 13% Offshore Onshore Offshore 42% Onshore Offshore Onshore Offshore 42%…
CORE ASSET OVERVIEW Stable Base Offshore Gulf of Mexico Development/Exploitation Woodbine, Eagle Ford, and Eaglebine Exploratory opportunities N. Cheyenne and Elm Hill Impactful equity investment Exaro Jonah Field Multi…
2015 CAPITAL PROGRAM Investment Philosophy and Strategy Maintain a strong and flexible financial position by managing capex to preserve balance sheet and liquidity Limit drilling expenditures to contractual or strategic…
2015 CAPITAL PROGRAM 2015 Estimated Capital Expenditures 2014 2015 Project Capex Capex Area (MM) (MM) Elm Hill Madison 72 21 11% Wyoming 5 11 Madison 42% Leases/G&G Elm Hill 11 6 20% 52 MM South Texas 28 4 WY-Mowry…
NET RESOURCE POTENTIAL Reserves 2015 Q1 Production Equivalent Equivalent PV10 Equivalent Net Drilling Mmboe Bcfe MM % Liquids Mmcfepd % Liquids Acres Locations Proved (1,3) Offshore 24 144 452 20% 64 19% 46,520 Onshore 22 131…
ASSET OVERVIEW WYOMING N. CHEYENNE PROJECT Muddy Sandstone - Weston County WYOMING EQUITY INVESTMENT Exaro Energy III (Jonah Field) EAST TEXAS James Lime, Haynesville / Mid-Bossier Madison/Grimes Counties Woodbine, Eagle…
Enhancing Value. Expanding the Opportunity. ASSETS Disciplined Value Enhancement Disciplined Value Enhancement (NYSE Mkt: MCF)
OFFSHORE STABLE CASHFLOW GENERATOR Producing Fields Net Proved Reserves Producing Platforms and Prospects LOUISIANA Natural Gas (Mmcf) 116 Oil and Condensate (Mmbbls) 4.7 Eq. Bcfe 144 EI 11 PV-10 (Mm) 450 ST 17 VR 170 Net…
SETX MADISON-GRIMES OVERVIEW Madison-Grimes 16,000 net acres Force: 6,300 net acres Chalktown: 6,000 net acres Grimes: 3,700 acres 75% HBP 339 Locations EURs: 250-500 Mboe Buda/Georgetown Woodbine/Lewisville Leon Houston…
MADISON-GRIMES MULTI PAY OPPORTUNITIES Disciplined Value Enhancement (NYSE Mkt: MCF) 17
STX EAGLE FORD OVERVIEW EAGLE FORD 9,500 net acres EXCO Zavala/Dimmit: 7,900 net acres 200+ Wells Karnes: 1,100 net acres Bee: 500 acres 76% HBP 151 Locations (80-100 acre spacing) EURs: 350-450 Mboe Net potential: 20 Mmboe…
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 250 Locations Johnson EURs: 250 300 Mboe Weston Net…
N. CHEYENNE SINGLE WELL ECONOMICS 900 140 300 Mboe Type Curve Well Cost 5.0 MM 800 120 EUR Gross 300 Mboe Oil Only 250 Mbo 700 Net 240 Mboe 100 F&D Cost 20.83 600 Daily Average Oil, BOPD Cumulative Oil, MBO Max 24…
ELM HILL PROJECT OVERVIEW ELM HILL PROJECT 25,100 net acres Fayette / Gonzales Counties, Texas 50% WI, Operator 164 Locations Cretaceous Sands, AC, Buda, Pearsall, eagle ford, glen rose, austin chalk EURs: 175 225 Mboe Net…
EXARO ENERGY EQUITY INVESTMENT JONAH FIELD PDP Reserve Growth (net to Exaro) 1,040 acres, NET TO EXARO Sublette County, WY Company owns a 37% equity interest in Exaro. 631 wells on production WI between 14.4% - 32.5%, net to…
FUNDING THE FUTURE BALANCE SHEET STRENGTH SUPPORTS GROWTH OBJECTIVES Disciplined Value Enhancement Disciplined Value Enhancement (NYSE Mkt: MCF) 24
STRONG FINANCIAL CONDITION Strong Balance Sheet in millions 3/31/15 12/31/14 Balance Sheet Data: Cash 0 0 Senior Debt 104 63 Shareholders Equity 550 567 Total Capitalization 654 630 Credit Statistics: Net Debt / Book…
LIQUIDITY Condensed Income Statement Three Months Ended Fiscal Year Ended in millions 3/31/15 12/31/14 Operating Revenues 31 276 Operating Expenses 10 47 Exploration Expenses (1) 5 33 Depreciation, Depletion and…
WHY INVEST IN CONTANGO 57.6 Mmboe (345 Bcfe) of proved reserves(1,2) Q1:15 production 111 Mmcfe/d(2) Proven Developed Strong and stable cash flow Asset Base 80% of proved value is developed 80% Operated 3X proved reserves in…
Enhancing Value. Expanding the Opportunity. APPENDIX Disciplined Value Enhancement Disciplined Value Enhancement (NYSE Mkt: MCF)
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 &…
Enhancing Value. Expanding the Opportunity. Disciplined Value Enhancement Disciplined Value Enhancement (NYSE Mkt: MCF)
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