Enhancing Value. Expanding the Opportunity. BARCLAYS CEO ENERGY-POWER CONFERENCE SEPTEMBER 8, 2015 Disciplined Value Enhancement Disciplined Value Enhancement (NYSE Mkt: MCF)
CORPORATE OVERVIEW OUR STRATEGY - To explore, develop, exploit, and acquire crude oil and natural gas properties in the onshore Texas Gulf Coast and Rocky Mountain regions of the United States. CONTANGO NearOVERVIEW Term Goals…
WHY INVEST IN CONTANGO 45.8 Mmboe (275 Bcfe) of proved reserves(1,2) Proven Developed Q2:15 production 98.4 Mmcfed(2) Strong and stable cash flow Asset Base 76% of proved value is developed 96% of proved reserves are operated…
RESERVE AND PRODUCTION PROFILE Proved Reserves PV-10 Q2 Production Q2 Revenue 275 Bcfe (1) 797 MM (1) 98.4 Mmcfed 35.3 MM Offshore Offshore Onshore 52% Onshore Onshore Offshore Offshore Onshore 56% 40% 44% 40% 60% 60% 48%…
CORE ASSET PROFILE Stable Production Base Offshore Gulf of Mexico Development/Exploitation Woodbine, Eagle Ford, and Eaglebine Exploratory opportunities N. Cheyenne and Elm Hill Impactful equity investment Exaro Jonah…
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 2015 2014 Project 2015 CAPITAL PROGRAM Capex Capex Area (MM) (MM) Elm Hill Madison 21 72 13% Madison Wyoming 23 5 34% Leases/G&G Elm Hill 8 11 15% 61 MM South…
NET RESOURCE POTENTIAL Reserves 2015 Q2 Production Equivalent PV10 Equivalent Net Drilling Bcfe MM % Liquids Mmcfed % Liquids Acres Locations Proved (1) Offshore 144 450 20% 58 20% 46,520 6 Onshore 131 347 51% 40 60% 64,460 74…
ASSET OVERVIEW East Texas Reserves: 7 Bcfe PV-10: 2 MM 2Q:15 Daily Prod: 1.1 Mmcfed Acres: 4,327 Locations: 55 ASSET OVERVIEW Upside: James Lime, Haynesville/Mid-Bossier Rocky Mountain Region Reserves: 5 Bcfe Southeast Texas…
OFFSHORE STABLE CASHFLOW GENERATOR Net Proved Reserves LOUISIANAand Prospects Producing Platforms and Prospects Producing Platforms Natural Gas (Mmcf) 116 Oil and Condensate (Mmbbls) 1.1 NGL (Mmbbls) 3.6 EI 11 Eq. Bcfe 144 ST…
SETX MADISON-GRIMES OVERVIEW Acreage & Inventory Total Net Acres 16,000 Force: 6,300 / Chalktown: 6,000 / Grimes: 3,700 Avg. Working Interest 70% Locations (Woodbine, Eagle Ford, Buda, etc.) 339 Well / Play Information EURs 250-500…
MADISON-GRIMES MULTI PAY OPPORTUNITIES Disciplined Value Enhancement (NYSE Mkt: MCF) 14
STX EAGLE FORD OVERVIEW Acreage & Inventory Total Net Acres 9,500 Zavala/Dimmit: 7,900 / Karnes: 1,100 / Bee: 500 EXCO 200+ Wells Avg. Working Interest (Zavala/Dimmit) 50% STX EAGLE FORD OVERVIEW Locations (not including Eaglebine)…
WYOMING NORTH CHEYENNE PROJECT OVERVIEW Acreage & Inventory Sheridan Total Net Acres 35,000 Campbell Crook Muddy Sandstone Formation - Weston County Working Interest (Drill to Earn) 80% WYOMING NORTH CHEYENNE PROJECT OVERVIEW…
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 Acreage & Inventory Total Net Acres 25,100 Navarro / Buda / Austin Chalk Formations Working Interest 50% Locations 240 Well / Play Information EURs 175-225 Mboe Net Potential 15 Mmboe Well Costs 3 - 5…
ETX -- JAMES LIME OVERVIEW SAN AUGUSTINE/SABINE COUNTIES Acreage & Inventory James Lime Results Wells Producing: 2 Total Net Acres 4,300 Initial 30-Day IP: 710 Boepd San Augustine / Sabine County Avg. Working Interest 58% Locations…
NIOBRARA PLAY COLORADO ACTIVITY Acreage & Inventory Contango acreage Total Net Acres 11,200 Adams / Weld / Arapahoe Counties Working Interest 70% Contango Amoco State 4416H Locations 26 Well / Play Information EURs 300-500 Mboe…
EXARO ENERGY EQUITY INVESTMENT Acreage & Inventory PDP Reserve Growth (net to Exaro) Total Acres (net to Exaro) 1,040 Sublette County, Wyoming Contango owns a 37% equity interest in Exaro Future Locations 210 Well / Play Information…
FUNDING THE FUTURE BALANCE SHEET STRENGTH SUPPORTS GROWTH OBJECTIVES Disciplined Value Enhancement Disciplined Value Enhancement (NYSE Mkt: MCF) 23
STRONG FINANCIAL CONDITION Strong Balance Sheet in millions June 30, 2015 Balance Sheet Data: Cash 0 Senior Debt 111 Shareholders Equity 532 Total Capitalization 643 Credit Statistics: Net Debt / Book Capitalization…
LIQUIDITY Condensed Income Statement Six Months Ended Fiscal Year Ended in millions 6/30/15 12/31/14 Operating Revenues 66 276 Operating Expenses 21 47 Exploration Expenses (1) 11 33 Depreciation, Depletion and…
PEER COMPARABLES UNRECOGNIZED VALUE Peer Group MCF Mean Median EV /EBITDAX (2015E) (1) 4.5 x 7.6 x 6.6 x EV/PV10 Proved (1)(2) 0.5 x 0.7 x 0.7 x EV/Proved Boe (1)(2) 6.60 8.88 8.07 EV/PD Boe (1)(2) 8.70 17.93 18.07…
WHY INVEST IN CONTANGO 45.8 Mmboe (275 Bcfe) of proved reserves(1,2) Proven Developed Q2:15 production 98.4 Mmcfed(2) Strong and stable cash flow Asset Base 76% of proved value is developed 96% of proved reserves are operated…
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 &…
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