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RBC CAPITAL MARKETS GLOBAL ENERGY AND POWER CONFERENCE – Contango Oil & Gas Co.

Contango Oil & Gas Co. · Jun 2, 2014 · 29 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. RBC CAPITAL MARKETS GLOBAL ENERGY AND POWER CONFERENCE – Contango Oil & Gas Co. – slide 1
    Enhancing Value. Expanding the Opportunity. 2014 RBC CAPITAL MARKETS GLOBAL ENERGY AND POWER CONFERENCE Enhancing Value. JUNE 2, 2014 Expanding the Opportunity. (NYSE Mkt: MCF)
  2. RBC CAPITAL MARKETS GLOBAL ENERGY AND POWER CONFERENCE – Contango Oil & Gas Co. – slide 2
    COMPANY OVERVIEW Exchange/Ticker: NYSE Mkt: MCF Share Price(1): 43.30 Market Capitalization(2): 838.5 million Enterprise Value(2): 902.3 million Daily Production (Q1:14) 117.5 Mmcfed Proved PV-10 Value (3): 987.2 million…
  3. RBC CAPITAL MARKETS GLOBAL ENERGY AND POWER CONFERENCE – Contango Oil & Gas Co. – slide 3
    WHY INVEST IN CONTANGO Attractive asset base 52.3 Mmboe (313.9 Bcfe) of proved reserves(1) Q1:14 production 118 Mmcfe/d 4 x proved reserves in unproved reserve potential (Bcfe) Operational control 80% Near term catalysts SETX…
  4. RBC CAPITAL MARKETS GLOBAL ENERGY AND POWER CONFERENCE – Contango Oil & Gas Co. – slide 4
    CORE ASSET OVERVIEW (1) Shallow GOM Wyoming/Jonah Field (2) Onshore Equity investment in Exaro Energy III 41.7 Bcfe (net) / 14.1 Mmcfed (net) OtherOther Onshore East Texas, TMS, Colorado 7.3 Bcfe / 2.4 Mmcfed…
  5. RBC CAPITAL MARKETS GLOBAL ENERGY AND POWER CONFERENCE – Contango Oil & Gas Co. – slide 5
    DIVERSIFIED ASSET PROFILE Reserves / Production Q1 2014 Production(1) 60% shallow water GOM Strong cash flow; high impact NGLs 40% onshore resource plays 15% Onshore 35% Oil Natural Low risk, repeatable; long term growth 20%…
  6. RBC CAPITAL MARKETS GLOBAL ENERGY AND POWER CONFERENCE – Contango Oil & Gas Co. – slide 6
    GROWTH POTENTIAL SUMMARY PV-10 3,500 3,370 3,000 2,500 PV-10 MM (1) 2,000 1,500 2.5 Bn PV-10 of Unproved Potential (2) 1,000 987 500 0 (1) (3) (4) Proved Reserves Madison / STX - Eagle Ford GoM James Lime…
  7. RBC CAPITAL MARKETS GLOBAL ENERGY AND POWER CONFERENCE – Contango Oil & Gas Co. – slide 7
    RECENT ONSHORE DRILLING RESULTS Well Information 30 Day IP Technical Data Well Name OP/NON Project Area Status IP Date BOE/D % Oil MD Ft. Lateral Ft. Frac Stages Mosley 2-H OP FORCE Producing Nov 2013 842 96% 15,534 6,092 23 Mosley…
  8. RBC CAPITAL MARKETS GLOBAL ENERGY AND POWER CONFERENCE – Contango Oil & Gas Co. – slide 8
    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; 48…
  9. RBC CAPITAL MARKETS GLOBAL ENERGY AND POWER CONFERENCE – Contango Oil & Gas Co. – slide 9
    SHALLOW GULF OF MEXICO HIGH IMPACT CASH FLOW TO FUND LOW RISK GROWTH OBJECTIVES Enhancing Value. Expanding the Opportunity. (NYSE Mkt: MCF)
  10. RBC CAPITAL MARKETS GLOBAL ENERGY AND POWER CONFERENCE – Contango Oil & Gas Co. – slide 10
    OFFSHORE ASSET OVERVIEW Reserve PV-10 Production (Q1 2014) % Bcfe % Category (MM) Natural Gas MMcf/d) 59.7 78% PD 187.9 541.2 98% Oil and condensate (Mbbl/d) 0.9 7% PUD 2.6 13.3 2% NGL (Mbbl/d) 1.8 15% Total 190.5 554.5 100%…
  11. RBC CAPITAL MARKETS GLOBAL ENERGY AND POWER CONFERENCE – Contango Oil & Gas Co. – slide 11
    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…
  12. RBC CAPITAL MARKETS GLOBAL ENERGY AND POWER CONFERENCE – Contango Oil & Gas Co. – slide 12
    GOM PROSPECT INVENTORY Highlights LOUISIANA COAST East Cameron 124 6 existing shallow-water prospects Ave. EUR: 26 Bcfe Eugene Island 23 73% Gas Well Costs: Ave. DHC: 16 MM Eugene Island 31 Ave. CC: 12 MM Ave. Payout: 2.4…
  13. RBC CAPITAL MARKETS GLOBAL ENERGY AND POWER CONFERENCE – Contango Oil & Gas Co. – slide 13
    ONSHORE RESOURCE ASSETS LOW RISK, REPEATABLE LONG TERM GROWTH DRIVER Enhancing Value. Expanding the Opportunity. (NYSE Mkt: MCF)
  14. RBC CAPITAL MARKETS GLOBAL ENERGY AND POWER CONFERENCE – Contango Oil & Gas Co. – slide 14
    ONSHORE ASSET OVERVIEW Reserve PV-10 Production (Q1:14) % Bcfe % PV Category (MM) Natural Gas MMcf/d) 16.2 39% PD 67.7 253.5 59% Oil and condensate (Mbbl/d) 3.1 44% PUD 55.7 179.1 41% NGL (Mbbl/d) 1.2 17% Total 123.4 432.6…
  15. RBC CAPITAL MARKETS GLOBAL ENERGY AND POWER CONFERENCE – Contango Oil & Gas Co. – slide 15
    ONSHORE RESOURCE OPPORTUNITIES Resource Opportunity 2014 Drilling Locations Unproved Locations MMBoe NPV 10% (MM) % Liquids PUDs Unproved Total First Tier Opportunities Force (Woodbine) 21 4 132 93% 10 1 11 Iola/Grimes (Woodbine)…
  16. RBC CAPITAL MARKETS GLOBAL ENERGY AND POWER CONFERENCE – Contango Oil & Gas Co. – slide 16
    LEON ROBERTSON MADISON WAL GRIMES BRAZOS Enhancing Value. Expanding the Opportunity. (NYSE Mkt: MCF) 17
  17. RBC CAPITAL MARKETS GLOBAL ENERGY AND POWER CONFERENCE – Contango Oil & Gas Co. – slide 17
    GEORGETOWN/EAGLE FORD/GLEN ROSE/BUDA FORMATIONS MADISON/GRIMES COUNTY Competitor Activity LEON MADISON WALKER BRAZOS GRIMES Enhancing Value. Expanding the Opportunity. (NYSE Mkt: MCF) 18
  18. RBC CAPITAL MARKETS GLOBAL ENERGY AND POWER CONFERENCE – Contango Oil & Gas Co. – slide 18
    STX BUDA OVERVIEW ZAVALA/DIMMIT COUNTY Highlights Buda Results Offset Activity Wells Producing: 9 Avg. 24-Hr IP: 953 Boepd Contango acreage Avg. 30-Day IP: 632 Boepd 8,700 net acres Booth-Tortuga Area 49 % HBP 19 Gross wells…
  19. RBC CAPITAL MARKETS GLOBAL ENERGY AND POWER CONFERENCE – Contango Oil & Gas Co. – slide 19
    STX EAGLE FORD OVERVIEW Highlights 9,500 net acres 80% HBP Zavala/Dimmit: 7,900 net acres Karnes: 1,100 net acres Bee: 500 acres 212 Locations EURs: 350-450 Mboe(1) Net potential: 33 Mmboe(1) Well Costs: 7-8mm 87%…
  20. RBC CAPITAL MARKETS GLOBAL ENERGY AND POWER CONFERENCE – Contango Oil & Gas Co. – slide 20
    ETX -- JAMES LIME OVERVIEW SAN AUGUSTINE/SABINE COUNTIES Highlights DVN (Competitor) Wells Drilled: 10 Avg. IP (boepd): 890 4,800 net acres San Augustine and Sabine Counties 80% HBP 2 Gross wells planned for 2014 8 MM,…
  21. RBC CAPITAL MARKETS GLOBAL ENERGY AND POWER CONFERENCE – Contango Oil & Gas Co. – slide 21
    NIOBRARA PLAY COLORADO ACTIVITY Niobrara Highlights 11,200 net acres 100% HBP Adams/Weld/Arapahoe Contango Counties Amoco State 44-16H 1 gross well possibly planned ADAMS for late-2014 (3 MM, net) DENVER EUR: 300-500…
  22. RBC CAPITAL MARKETS GLOBAL ENERGY AND POWER CONFERENCE – Contango Oil & Gas Co. – slide 22
    TUSCALOOSA MARINE SHALE Asset Overview Goodrich Foster Creek 1H Initial IP: 527 Boe/d Cum: 39 MBO (4/01/14) Franklin Initial entry in to play Adams Encana Anderson 1-17H Month IP: 867 Boe/d Cum: 130 MBO (19 months) 25%…
  23. RBC CAPITAL MARKETS GLOBAL ENERGY AND POWER CONFERENCE – Contango Oil & Gas Co. – slide 23
    FUNDING THE FUTURE BALANCE SHEET STRENGTH SUPPORTS GROWTH OBJECTIVES Enhancing Value. Expanding the Opportunity. (NYSE Mkt: MCF)
  24. RBC CAPITAL MARKETS GLOBAL ENERGY AND POWER CONFERENCE – Contango Oil & Gas Co. – slide 24
    LIQUIDITY Strong Balance Sheet Contango in millions (03/31/14) Balance Sheet Data: Cash 0 Senior Debt 64 Stockholders Equity 584 Total Capitalization 648 Credit Statistics: Net Debt / Book Capitalization 10% Net Debt…
  25. RBC CAPITAL MARKETS GLOBAL ENERGY AND POWER CONFERENCE – Contango Oil & Gas Co. – slide 25
    WHY INVEST IN CONTANGO Attractive asset base 52.3 Mmboe (313.9 Bcfe) of proved reserves(1) Q1:14 production 118 Mmcfe/d 4 x proved reserves in unproved reserve potential (Bcfe) Operational control 80% Near term catalysts SETX…
  26. RBC CAPITAL MARKETS GLOBAL ENERGY AND POWER CONFERENCE – Contango Oil & Gas Co. – slide 26
    APPENDIX Enhancing Value. Expanding the Opportunity. (NYSE Mkt: MCF)
  27. RBC CAPITAL MARKETS GLOBAL ENERGY AND POWER 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 &…
  28. RBC CAPITAL MARKETS GLOBAL ENERGY AND POWER CONFERENCE – Contango Oil & Gas Co. – slide 28
    DRILLING METRICS Net Spacing Unproved Average Average Well Average % Oil / Net Area Acres (Acres) Locations WI Cost EUR/Well NGLs Potential (Approx) Madisonville Force Area - Woodbine 5,100 160 21 80% 6.0-7.0 MM 450-550 mboe 94%…
  29. RBC CAPITAL MARKETS GLOBAL ENERGY AND POWER CONFERENCE – Contango Oil & Gas Co. – slide 29
    Enhancing Value. Expanding the Opportunity. (NYSE Mkt: MCF)

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