Enhancing Value. Expanding the Opportunity. JOHNSON RICE 2017 ENERGY CONFERENCE September 27, 2017
WHO IS CONTANGO A Houston, Texas based independent E&P company. Our primary producing properties are in Texas, Wyoming and the Gulf of Mexico Our 2017 focus will be on drilling in the Southern Delaware Basin Exchange/Ticker:…
WHY INVEST IN CONTANGO Significant dependable cash flows Financially Positioned Low leverage to Grow Simple capital structure with 52 million of revolver capacity at 6/30/17 13,600 (6,800 net) mostly contiguous undeveloped gross…
PROVEN PROVENASSET ASSET OVERVIEW PROFILE Gulf Coast and Rocky Mountain Operator 2Q:17 Production (Mmcfe/d) GoM Texas Exaro Other Gas NGL Oil 15% 1% Rocky Mountain Region (1) 15% Reserves: 36.9 Bcfe PV-10: 21 MM 13% 2Q:17…
COMPANY COMPANYUPSIDE POTENTIAL(1)(1) UPSIDEPOTENTIAL West Texas SETX/STX Wyoming Southern Delaware Eagle Ford/Woodbine N. Cheyenne Muddy Potential Gross Locations 200 (2) 158 227 Average WI/NRI 42.5%/32% 71%/55% 80%/64% Average…
GROWTH POTENTIAL-NAV ESTIMATE Base Case Upside Case Category (/share) (/share) Comments Proved Developed Reserves (1) 9.06 9.06 PV-10 at NYMEX Strip pricing Proved Undeveloped Reserves (1) 1.07 1.19 Base Case Risked at 90% of…
2017CAPITAL 2017 CAPITALPROGRAM PROGRAM Development Strategy Focus on Southern Delaware Basin Planned 2017 Activity: 50 - 55 million (complete two 2016 spuds; drill six additional horizontal wells and complete three or four of…
SOUTHERN DELAWARE BASIN SELECTED AREA DRILLING ACTIVITY Max Lat. Cum % 3 4 Company Well Name Month Length Prod Months Oil (Boe/d) (feet) (MBOe) J. Cleo Faraday 1 655 6,752 280 23 72% Thompson 23NE 2H Frying Pan 2 Concho 823…
WTX TYPE CURVE PERFORMANCE 11
SOUTHERN DELAWARE BASIN WOLFCAMP AND BONE SPRINGS TYPE LOG PHIDEDIT Spacing Overview Contango Type Log 0.3 0 CAL OIL IN PLACE DPRL Avalon 20 8 1 0 0.3 0 OOIP: 35 MMBo/Section (1) GR_NRM LLD NPHI Offset Activity: BHP,Cimarex, J. Cleo…
WELLS WELLS AND AND INFRASTRUCTURE INFRASTRUCTURE RIVER RATLER 8-9 1H RAGIN BULL 1716 1H 2H 9 FIGHTING ACE 2827 2H CRUSADER 2930 1H FIGHTING ACE 2827 1H 10 11 13
NON-DELAWARE NON-DELAWAREBASIN BASIN PORTFOLIO PORTFOLIO Stable Production Base Mature Resource Play Early Stage Resource Play & Cash Flow Offshore Gulf of Mexico Texas Onshore Rockies EI 11 VR 170 ST 17 Dimmit T…
OFFSHORE OFFSHORE STABLE STABLE CASHFLOW CASH FLOW GENERATOR GENERATOR Net Proved Reserves (12/31/2016)(1) Map of Locations Natural Gas (Mmcf) 76.0 Oil and Condensate (Mmbbls) 0.5 LOUISIANA NGL (Mmbbls) 2.2 Equiv. Bcfe 92.2…
OFFSHORE STABLE CASH FLOW GENERATOR (CONTD) 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 Core Onshore Texas Acreage Summary Southern Delaware Basin 6,800 Eagle Ford/Eaglebine 21,600 Woodbine 13,700 James Lime 3,600 Conventional 50,600 Eagle Ford / Eaglebine Well Play Information - Woodbine…
ROCKIES WYOMING PROJECT OVERVIEW Acreage & Inventory Sheridan Campbell Total Net Acres 39,000 Crook (no significant near-term expirations) Muddy Sandstone Formation WYOMING - Weston County NORTH CHEYENNE PROJECT OVERVIEW…
STRONG FINANCIAL POSITION Liquidity and Leverage Profile 2017 Hedge Positions Natural Gas US in millions, except where otherwise noted) 6/30/17 Period Derivative Volume/Month Price / Unit (2) Current Borrowing Base (as of 6/30/17)…
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
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 PW 10, M 12/31/16 SEC Price (1) Proved Developed 2,158 3,509 95,396 129,399 154,007 Proved Undeveloped 1,266 850 9,657 22,351 12,221 Total…
ADJUSTED EBITDA RECONCILIATION EBITDAX represents net income (loss) before interest expense, taxes, and depreciation, depletion and amortization, and oil & gas expenses. Adjusted EBITDAX represents EBITDAX further adjusted to reflect…
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