Enhancing Value. Expanding the Opportunity. 23RD ANNUAL OGIS CONFERENCE Disciplined Value Enhancement (NYSE Mkt: MCF) APRIL 3, 2017
WHY INVEST IN CONTANGO NOW 13,200 (6,600 net) mostly contiguous undeveloped gross operated acres Attractive Delaware Basin Acquisition Multi-stack play in Wolfcamp and Bone Springs, which creates 39,600 effective gross operated…
COMPANY OVERVIEW (US in millions, except where otherwise noted) Current Capitalization 2016 Production (Mmcfe/d) GoM Texas Exaro Other Gas NGL Oil Share Price (As of 12/31/16) 9.34 Diluted Shares Outstanding (mm) 25.3 14% 2% 13%…
2017 INVESTMENT PHILOSOPHY AND STRATEGY Manage capex to preserve balance sheet and liquidity Maintain a Strong Hedged approximately 50% of our forecasted PDP oil and natural gas production for 2017 Financial Position Year-end debt of…
COMPANY UPSIDE POTENTIAL (1) Permian Texas Onshore Rockies Southern Delaware SETX/STX Wyoming Pecos Madisonville/Karnes N. Cheyenne Muddy Potential Gross Locations 200 (2) 158 227 Average WI/NRI 41%/32% 71%/55% 80%/64% Average…
GROWTH POTENTIAL NAV ESTIMATE Base Case Upside Case Category (/share) (/share) Comments Proved Developed Reserves (1) 9.19 9.19 PV-10 at NYMEX Strip pricing 3,370 Proved Undeveloped Reserves (1) 1.08 1.21 Risked 90% of PV-10 at…
2017 CAPITAL PROGRAM Development Strategy Focus primarily on Southern Delaware Basin Well/Facility capital expenditures generally within internally generated cash flow (i.e. 10MM overspend) 2017 Activity - 57.5 million; 10…
DELAWARE BASIN ACQUISITION INVESTMENT HIGHLIGHTS Offers a foothold in one of the most prolific and economic plays in the country Creates Permian Multi-year inventory across a stacked pay basin Presence Provides inventory…
NON-DELAWARE BASIN PORTFOLIO Stable Production Base Mature Resource Play Early Stage Resource Play & Cash Flow Offshore Gulf of Mexico Texas Onshore Rockies EI 11 Southeast Texas ST 17 VR 170 T South Texas X Dimmit…
OFFSHORE STABLE CASHFLOW GENERATOR Net Proved Reserves (12/31/2016)(1) Map of Locations Producing Platforms and Prospects Producing Platforms and Prospects 76.0 Natural Gas (Mmcf) 0.5 Oil and Condensate (Mmbbls) LOUISIANA 2.2…
OFFSHORE STABLE CASHFLOW GENERATOR (CONT.) Compact, concentrated position Depletion drive reservoir with predictable, low decline Dutch 1 Discovery Eugene Island Field Cib Op Structure Map Cumulative Production for Entire…
CORE ONSHORE TEXAS South Texas Southeast Texas Acreage & Inventory Acreage & Inventory Total Net Acres 76,800 / 7,900 prospective for Buda and Eagle Ford Total Net Acres 20,000 / 13,700 in Madison and Grimes Co.s Avg. Working Int.…
ROCKIES WYOMING PROJECT OVERVIEW Acreage & Inventory Sheridan Campbell Total Net Acres 35,000 Crook (no significant near-term expirations) Muddy Sandstone WYOMING Formation NORTH - Weston County CHEYENNE PROJECT OVERVIEW…
STRONG FINANCIAL POSITION Liquidity and Leverage Profile Low Leverage and Strong Coverage vs. Peers (US in millions, except where otherwise noted) 12/31/16 Debt / LTM EBITDA (1)(2) Current Borrowing Base 140 (-) Bank Debt…
WHY INVEST IN CONTANGO Proven Developed Asset Base Significant Onshore Development Potential with Focus on Permian Experienced Management Team Conservative Debt Profile with Ample Liquidity Well positioned to…
Enhancing Value. Expanding the Opportunity. APPENDIX Disciplined Value Enhancement (NYSE Mkt: MCF)
MANAGEMENT Current Position and Past Experience President, Chief Executive Officer and Director President / CEO, Contango Oil & Gas Company (since 2005 through merger with Crimson) Allan D. Keel VP / GM, Westport Resources…
RESERVES AT 12/31/16 Reserve Category Net Oil, Mb Net NGL, Mb Net Gas, Mb Net Mmcfe SEC PW 10, M 12/31/16 SEC Price Offshore PDP 454 2,241 76,018 92,190 112,677 Onshore PDP 1,534 719 10,089 23,608 28,806 Onshore PNP 169 549 9,289…
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