Enhancing Value. Expanding the Opportunity. CONTANGO OIL & GAS COMPANY JEFFERIES 2014 GLOBAL ENERGY CONFERENCE Enhancing Value. NOVEMBER 11, 2014 Expanding the Opportunity. (NYSE Mkt: MCF)
COMPANY OVERVIEW Exchange/Ticker: NYSE Mkt: MCF Daily Production (Q3:14) 102.3 Mmcfed LTM Adjusted EBITDAX Share Price (1): 34.71 207 million (9/30/14) Shares O/S: 19.4 million Proved PV-10 Value (3): 987 million Market 673 million…
CORE ASSET OVERVIEW SOUTH CENTRAL TEXAS NEW RESOURCE PLAY Fayette, Gonzales, Caldwell, Bastrop EAST TEXAS counties Upside: James Lime, Haynesveille / Mid-Bossier WYOMING NEW RESOURCE PLAY Muddy Sandstone - Weston County, Wyoming…
WHY INVEST IN CONTANGO 52.3 Mmboe (314 Bcfe) of proved reserves(1) Q3:14 production 102.3 Mmcfe/d Attractive Asset Base Strong cash flow 7X proved reserves (Bcfe) in unproved resource potential Operational control 80% SETX -…
DIVERSIFIED ASSET PROFILE Reserves / Production Q3 2014 Revenue 60% shallow water GOM Strong cash flow NGLs 40% onshore resource plays 12% Natural Gas 32% Low risk, repeatable; long term growth GOM 37% 67.6 MM Liquids Oil Onshore 63%…
GROWTH POTENTIAL SUMMARY PV-10 5,612 5,000 4,000 PV-10 MM (1) 68% Liquids 3,000 2,000 4.6 Bn PV-10 of Unproved Potential (2) 1,000 987 34% Liquids 0 (1) Proved Reserves Madison / STX - Eagle Ford James Lime (3) Other (4) New Resource…
2014 CAPITAL PROGRAM Development Strategy Fund exploration and development with cash flow Primary focus on liquids-rich onshore resource plays Advantage of being substantially held by production 2014 Activity -- 215MM - 225MM; 46 gross…
2014 WOODBINE AND BUDA DRILLING RESULTS Number of Average 30 Average MD Average Average Frac Project Area OP/NON Status Wells Day IP (BOED) Average % Oil Ft Lateral Ft. Stages FORCE OP Producing 7 653 84% 15,257 6,057 23 Total 7…
LIQUIDS FOCUSED STRATEGY & GROWTH 700 (1) 10,000 650 600 8,000 Liquids Production (MBbls) Total Production (Mmcfe) 550 6,000 500 4,000 450 2,000 400 0 350 1Q:13 2Q:13 3Q:13 4Q:13 1Q:14 2Q:14 3Q:14 Total Production (Mmcfe) Liquids…
ONSHORE ASSET OVERVIEW SOUTH CENTRAL TEXAS NEW RESOURCE PLAY Fayette, Gonzales, Caldwell, Bastrop counties EAST TEXAS Upside: James Lime, Haynesveille / WYOMING NEW RESOURCE PLAY Mid-Bossier Muddy Sandstone - Weston County, Wyoming…
ONSHORE ASSET OVERVIEW (1/1/14) Reserve PV-10 Production (Q3:14) % Bcfe % PV Category (MM) Natural Gas MMcf/d) 17.4 37% PD 67.7 253.5 59% Oil and condensate (Mbbl/d) 3.7 47% PUD 55.7 179.1 41% NGL (Mbbl/d) 1.3 16% Total 123.4 432.6…
MADISON / GRIMES HIGHLIGHTS Stacked pay zones in over 4,000 feet of productive stratigraphic column; primary target to-date is horizontal development of the Woodbine which has several producing members 26,000 gross (18,000 net)…
WELL-POSITIONED FOR MULTIPLE-HORIZON DEVELOPMENT OPPORTUNITIES Assets are in prime location to take advantage of over 4,000 of productive stratigraphic column Leasehold is in the epicenter of recent industry activity where operators…
AREA TYPE LOG & DEVELOPMENT TARGETS Area Type Log Primary Development Targets 1 Woodbine C: West Iola Force Substantial legacy vertical oil production and 200 Austin Chalk new generation horizontal wells drilled in the area 2 Upper…
CURRENT OPERATED PRODUCTION & ACTIVITY LEON New Gulf Operated Production & Well Status September 2014 average operated production ROBERTSON Gross: 3,571 bopd and 13,504 Mcfd MADISON Net: 3,545 boepd including NGLs Operated producing…
STX EAGLE FORD OVERVIEW Highlights Eagleford Producers Contango Acreage 9,500 net acres 80% HBP Zavala/Dimmit: 7,900 net acres Karnes: 1,100 net acres Bee: 500 acres 212 Locations (80-100 acre spacing) Zavala EURs: 350-450 Mboe(1)…
PROSPECT ECONOMICS FRAMS - Mowry Vertical vs. Type Curve N. Cheyenne - Muddy Vertical vs. Type Curve Elm Hill Fayette Co. Vertical vs. Type Curve 300,000 300,000 300,000 250,000 250,000 250,000 200,000 200,000 200,000 Cum Oil Cum Oil…
ELM HILL PROJECT Asset Overview Bastrop Fayette 53,200 gross acres Janecka 1 23,700 Net acres (Flowing Back) Fayette / Gonzales, Texas Caldwell 50% WI, Operator Cretaceous Sands Vinklarek 1 (Drilling) Spud 2 of 4 gross wells planned…
FRAMS PROJECT Asset Overview WYOMING 120,000 gross acres 93,000 net acres Converse 80% WI Natrona Natrona County, Wyoming Drill to earn MCF State 35-79-16 (Drilling) Mowry Shale, Frontier Sands 1 Gross well planned for 2014 7 MM, net…
NORTH CHEYENNE PROJECT Asset Overview Sheridan Campbell Crook 49,000 gross acres 44,000 net acres Johnson 90% WI Weston County, Wyoming Drill to earn Muddy Sandstone formation MCF Test Well Weston Avg. depth 5,000-7,000 Fiddler Creek…
N CHEYENNE LEASEHOLD WITH HISTORICAL NON CHANNEL MUDDY PRODUCERS 2,300 BO 1,000 BO 17,000 BO 16,400 BO 8,300 BO 132,700 BO 22571 82,500 BO 22529 1,000 BO 213,000 BO 22743 7,500 BO 35,000 BO 20824 11,000 BO 15,000 BO 6,600 BO 1,000 BO…
ETX -- JAMES LIME OVERVIEW SAN AUGUSTINE/SABINE COUNTIES Highlights James Lime Results Wells Producing: 2 Avg. 30-Day IP: 710 Boepd 4,800 net acres San Augustine and Sabine Counties 80% HBP 2 Gross wells drilled and completed in 2014 9…
NIOBRARA PLAY COLORADO ACTIVITY Niobrara Highlights Contango acreage 11,200 net acres Contango 100% HBP Amoco State 44-16H Adams/Weld/Arapahoe Counties EUR: 300-500 Mboe(1) ADAMS Net Potential: 3.3 Mmboe(1) DENVER Well Costs: 5 - 6mm…
LIQUIDITY Strong Balance Sheet 9/30/14 12/31/14 in millions Balance Sheet Data: Cash 0 0 Senior Debt 54 90 Shareholders Equity 595 593 Total Capitalization 649 683 Credit Statistics: Net Debt / Book Capitalization 8% 13% Net Debt / LTM…
LIQUIDITY Condensed Income Statement Pro Forma Nine Months Ended Twelve Months Ended 9/30/14 in millions 12/31/13(2) Operating Revenues 226 257 Operating Expenses 36 54 Exploration Expenses (1) 33 3 Depreciation, Depletion and…
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 access…
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 & Woodside…
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