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Johnson Rice Energy Conference – Contango Oil & Gas Co.

Contango Oil & Gas Co. · Sep 30, 2015 · 27 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. Johnson Rice Energy Conference – Contango Oil & Gas Co. – slide 1
    Enhancing Value. Expanding the Opportunity. JOHNSON RICE 2015 ENERGY CONFERENCE SEPTEMBER 30, 2015 Disciplined Value Enhancement Disciplined Value Enhancement (NYSE Mkt: MCF)
  2. Johnson Rice Energy Conference – Contango Oil & Gas Co. – slide 2
    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…
  3. Johnson Rice Energy Conference – Contango Oil & Gas Co. – slide 3
    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…
  4. Johnson Rice Energy Conference – Contango Oil & Gas Co. – slide 4
    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%…
  5. Johnson Rice Energy Conference – Contango Oil & Gas Co. – slide 5
    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…
  6. Johnson Rice Energy Conference – Contango Oil & Gas Co. – slide 6
    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…
  7. Johnson Rice Energy Conference – Contango Oil & Gas Co. – slide 7
    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…
  8. Johnson Rice Energy Conference – Contango Oil & Gas Co. – slide 8
    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…
  9. Johnson Rice Energy Conference – Contango Oil & Gas Co. – slide 9
    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…
  10. Johnson Rice Energy Conference – Contango Oil & Gas Co. – slide 10
    Enhancing Value. Expanding the Opportunity. ASSETS Disciplined Value Enhancement Disciplined Value Enhancement (NYSE Mkt: MCF)
  11. Johnson Rice Energy Conference – Contango Oil & Gas Co. – slide 11
    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…
  12. Johnson Rice Energy Conference – Contango Oil & Gas Co. – slide 12
    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…
  13. Johnson Rice Energy Conference – Contango Oil & Gas Co. – slide 13
    MADISON-GRIMES MULTI PAY OPPORTUNITIES Disciplined Value Enhancement (NYSE Mkt: MCF) 14
  14. Johnson Rice Energy Conference – Contango Oil & Gas Co. – slide 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)…
  15. Johnson Rice Energy Conference – Contango Oil & Gas Co. – slide 15
    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…
  16. Johnson Rice Energy Conference – Contango Oil & Gas Co. – slide 16
    N. CHEYENNE MUDDY SAND ISOPACH Awaiting Completion (2) WC-45N-66W 35 1H Permitted (4) WC-44N-66W 11 1H Drilling (3) WC-44N-66W 9 1H Elliott 1H 889 BO/d + 112 MCF/d 6,601 LL / 25 Stages Disciplined Value…
  17. Johnson Rice Energy Conference – Contango Oil & Gas Co. – slide 17
    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…
  18. Johnson Rice Energy Conference – Contango Oil & Gas Co. – slide 18
    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…
  19. Johnson Rice Energy Conference – Contango Oil & Gas Co. – slide 19
    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…
  20. Johnson Rice Energy Conference – Contango Oil & Gas Co. – slide 20
    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…
  21. Johnson Rice Energy Conference – Contango Oil & Gas Co. – slide 21
    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…
  22. Johnson Rice Energy Conference – Contango Oil & Gas Co. – slide 22
    FUNDING THE FUTURE BALANCE SHEET STRENGTH SUPPORTS GROWTH OBJECTIVES Disciplined Value Enhancement Disciplined Value Enhancement (NYSE Mkt: MCF) 23
  23. Johnson Rice Energy Conference – Contango Oil & Gas Co. – slide 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…
  24. Johnson Rice Energy Conference – Contango Oil & Gas Co. – slide 24
    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…
  25. Johnson Rice Energy Conference – Contango Oil & Gas Co. – slide 25
    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…
  26. Johnson Rice Energy Conference – Contango Oil & Gas Co. – slide 26
    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…
  27. Johnson Rice Energy Conference – Contango Oil & Gas Co. – slide 27
    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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