Disciplined Value Enhancement (NYSE Mkt: MCF) 54% 30% 13% 3% GoM Texas Exaro Other 70% 15% 15% Gas NGL Oil 3 Texas Rockies Gulf Coast and Rocky Mountain Operator Gulf of Mexico COMPANY OVERVIEW YE 2015 Production…
Disciplined Value Enhancement (NYSE Mkt: MCF) 4 WHY INVEST IN CONTANGO NOW? (1) Based on SEC pricing at 12/31/2015. (2) Includes 38.7 Bcfe of reserves attributable to our 37% unconsolidated equity interest in Exaro. (3) See adjusted…
Disciplined Value Enhancement (NYSE Mkt: MCF) 7 ADAPTED QUICKLY TO CHANGE IN COMMODITY PRICES Note: Free Cash Flow defined as EBITDA less Capex and Interest Expense. (1) Capex per management guidance. $188.5…
Disciplined Value Enhancement (NYSE Mkt: MCF) (1) We have initiated discussions with the Administrative Agent to request an extension of the maturity of our current revolving credit facility, but there is no assurance that we will be…
Disciplined Value Enhancement (NYSE Mkt: MCF) 10 Stable Production Base & Cash Flow Mature Resource Play Early Stage Resource Play Other Offshore Gulf of Mexico Texas Onshore Rockies Equity Investment ? Three shallow water platforms…
Disciplined Value Enhancement (NYSE Mkt: MCF) 11 (1) Present value discounted at 10% using SEC Pricing @ 12/31/15. (2) Represents proved reserves attributable to the Company?s 37% unconsolidated equity interest in Exaro. (3) Internal…
Disciplined Value Enhancement (NYSE Mkt: MCF) 11 (1) Present value discounted at 10% using SEC Pricing @ 12/31/15. (2) Represents proved reserves attributable to the Company?s 37% unconsolidated equity interest in Exaro. (3) Internal…
Disciplined Value Enhancement (NYSE Mkt: MCF) 12 UPSIDE POTENTIAL (1) (1) Based on internal company estimates. Type metrics are derived from hypothetical future well type curve estimates developed generally from the most analogous…
Disciplined Value Enhancement (NYSE Mkt: MCF) OFFSHORE ? STABLE CASHFLOW GENERATOR 13 (1) Offshore reserves based on William M. Cobb & Associates proved reserve report as of 12/31/2015 at SEC pricing.. Producing Platforms and…
Disciplined Value Enhancement (NYSE Mkt: MCF) 14 OFFSHORE ? STABLE CASHFLOW GENERATOR (CONT.) Dutch #1 Discovery Eugene Island Field Cib Op Structure Map ? Compact, concentrated position ? Depletion drive reservoir with predictable,…
Disciplined Value Enhancement (NYSE Mkt: MCF) 15 CORE ONSHORE TEXAS South Texas Acreage & Inventory Total Net Acres 81,900 / 8,900 prospective for Buda and Eagle Ford Avg. Working Int. 54% Locations 32 Well Play Information ? Eagle…
Disciplined Value Enhancement (NYSE Mkt: MCF) SOUTHEAST TEXAS MULTI PAY OPPORTUNITIES 16 Woodbine C: Substantial legacy vertical oil production and >200 new generation horizontal wells drilled in the area Upper Lewisville Legacy…
Disciplined Value Enhancement (NYSE Mkt: MCF) WYOMING ? NORTH CHEYENNE PROJECT OVERVIEW 17 Weston Crook Converse Niobrara Campbell MCF N. Cheyenne Project Crook Weston Sheridan Campbell Johnson Natrona Converse Niobrara…
Disciplined Value Enhancement (NYSE Mkt: MCF) EXARO ENERGY EQUITY INVESTMENT 21 PDP Reserve Growth (net to Exaro) Production Growth (net to Exaro) Acreage & Inventory Total Acres (net to Exaro) 1,040 Sublette County, Wyoming…
Disciplined Value Enhancement (NYSE Mkt: MCF) STX EAGLE FORD PRODUCTION RESULTS (30 Day IP) Karnes Atascosa Glasscock B 1H 470 Boed Glasscock A 1H 717 Boed Littlepage McBride 7H 687 Boed Contango Eagle Ford Well Contango…
Disciplined Value Enhancement (NYSE Mkt: MCF) 23 Acreage & Inventory Total Net Acres 11,200 Adams / Weld / Arapahoe Counties Working Interest 70% Recent Developments There has been sporadic activity since 2011 in the vicinity of…
Disciplined Value Enhancement (NYSE Mkt: MCF) 24 Acreage & Inventory Total Net Acres 4,500 San Augustine / Sabine County Avg. Working Interest 61% HBP% ~100% Recent Developments Two wells drilled and completed in 2014 ? targeting…
Disciplined Value Enhancement (NYSE Mkt: MCF) 25 MANAGEMENT Current Position and Past Experience ? President, Chief Executive Officer and Director ? President/CEO, Crimson Exploration Inc. (since 2005) ? VP / GM, Westport Resources…