positioned for GROWTH GHS 100 Energy Conference Company Overview June 2012
Crimson Overview Geographic Focus Area CO Key Information 2012 Target Areas Exchange/Ticker: NasdaqGM:CXPO Share Price(1): 4.66/share 52-week Range(1): 2.00 - 5.69 East Texas TX Southeast Market Capitalization: 215 million…
Investment Highlights Attractive asset base 200.4 Bcfe of proved reserves(1); 20% increase over 2010 965 Bcfe of unproved reserve potential (5x proved reserves); over 850 drilling locations Q1 2012 production of 38 mmcfepd (38%…
Track Record of Reserve Growth 200.4 19% 166.5 19% 97.5 28% 81% 81% 72% Note: 2009 2011 reserves at SEC pricing per NSAI. Crude Oil and Natural Gas Liquids converted on a 6:1 basis. positioned for GROWTH…
Proved Reserve & Unproved Potential Summary PV-10 1.1 Bn PV-10 of Repeatable Unconventional Potential (2,3) (2,3) (2,3) (2,3) (2,3) (2,3) (1) (1) Based on 12/31/2011 SEC pricing. PV-10 value includes hedging effects.…
Transitioning to a Balanced Oil / Gas Profile 2010 2011 production increased by 28% as Crimson ramped its operations following the downturn in 2009 Production Flat production in 2012 expected as Crimson shifts away from higher rate…
2012 Capital Budget Goals: Improve oil/gas production mix to 50/50 by mid-2012 Monitor Niobrara and James Lime Industry Activity 2012E Capital Expenditures 73.9mm CAPEX F&D Area Gross/Net MM (/bbl) IRR(2) Eagle Ford 5 / 2.9…
Woodbine Formation Overview Pay Zones Vertical Woodbine Producers Leon Eocene Crimson acreage Houston Wilcox Midway Austin Chalk Robertson Sub Cville Woodbine Lewisville Dexter Madison Eagle Ford Buda…
Crimsons Exposure Madison /Grimes County 2 High impact oil re-development I. SHUTE A. PYE 206 186 A. BALLE 1066 HOUSTON FRANK Encana J. HUNTER 110 LONE FR ANK 1 Crimson Grace Hall 1H 1 W. HALL W. HILL…
Well Log Characteristics Madison/Grimes County Force Area Iola Area Chalktown Area Adjacent to PMO Allphin 1H Adjacent to Pride Holth Unit Adjacent to CXPO Vick Trust (236 Mboe / 11 months) (170 Mboe / 6 months) Mosley Vick…
Woodbine Formation Reported Initial Potential Tests since January 2009 Takeaways: Crimsons Mosley 1H ranks top of its class in initial performance Mosley 1 (NGLs not included) Implementing longer laterals and perf and plug…
Impact of Completion and Lateral Length on Performance Woodbine Formation Perf and Plug Lateral Length Average of Wells with 6000 Lateral Average of All Wells Average of Wells with < 6000 Lateral Perf and Plug Completions…
Sample Type Curves Woodbine Formation 10000 < 6000 Average 6000 30 Day IP, Bopd 785 830 860 De 86% 83% 78% Dmin 10% 10% 10% B Factor 1.0 1.0 1.0 EUR Oil, Mb 270 355 450 NGL, Mb 15 21 25 Daily Oil Production, Bbls/day…
Georgetown/Glen Rose/Eagle Ford/Buda Formations Madison/Grimes County Georgetown and Glen Rose wells HOUSTON New Georgetown/Buda well LEON Pay Zones New Eagle Ford well Crimson acreage Eocene EOG Donaho 1H Wilcox Eagle Ford…
Georgetown Formation Madison County Crimson Johnston 2 Devon Mathis 2H Georgetown Horizontal Crimson 763 BO/d + 1,159 MCF/d Johnston 2 -8500 Type Log Saxet Coleman 2 Georgetown Georgetown Vertical Cum 349 MBOe Crimson…
Eagle Ford Overview High impact oil opportunity in developing Eagle Ford Shale Glasscock A 1 (95.5% WI) Zavala/Dimmit Co. (6,550 net acres) IP: 726 Boepd Karnes Co. (1,100 net acres) Crimson (50% WI) Glasscock B 1 (93.7% WI) KM…
Eagle Ford Littlepage-McBride/Glasscock; 660 Mmboe Produced since 4/2011 EOG Estes Unit EOG Lyssy Unit EOG Horse Thief Unit Crimson Glasscock A-1H: 726 Boe/d & 45 MBOe B-1H : 639 Boe/d & 8 MBOe EOG Orr Unit 2H 1,584 BOe/d EOG…
Eagle Ford Zavala/Dimmit County Crimson KM Area HK ZAVALA FRIO MAVERICK CHK GDP NFX CHK COG CHK GDP LEGEND NFX CHK Crimson Exploration Chesapeake Energy NFX Crimson CHK Booth Tortuga Goodrich Petroleum DIMMIT…
Eagle Ford Zavala/Dimmit County (cont.) 1047 677 379 W.H. SHADBORNE A. PRICE 380 891 A. B. & M. 620 38 L. WEBSTER T. SAMUEL CHESAPEAKE 585 TRAYLOR 669 J 1H Permitted well A. B. & M. CATTLE CO. 60 T. HOLDSWORTH 1095…
James Lime Liquids San Augustine/Sabine County Crimson Blue 1 Angie Field Eagle Halbert 1 San Augustine Co, Texas San Augustine Co, Texas Avg EUR: 2.3 BCF (Dry Gas) James Lime James Lime DVN Sublett 2H DVN Kardell 2H 2,100…
Niobrara Play Colorado Activity Rocky Mtn Prod Co Noble Kerr McGee Green USX 8D Rowe 27HZ Great Western Amoco State 42-16 450 BO/d Turecek State 161H 6 1N 65W 6 1N 64W 6 1N 63W 6 1N 62W 6 1N 61W 6 1N 66W Sec 16 1S 65W (Offset to…
NAV Estimate Category Base Case Upside Case Comments Proved Developed Reserves(1) 4.75 4.75 PV-10 at NYMEX Strip pricing Risked 85% of PV-10 at NYMEX Strip Proved Undeveloped Reserves(1) 1.90 1.90 pricing Less: Net Debt(2)…
Investment Highlights Attractive asset base 200.4 Bcfe of proved reserves(1) 5x unproved reserve potential Operational control 80% Near term catalysts Horizontal Woodbine/Lewisville/Georgetown Eagle Ford Shale…
Appendix positioned for GROWTH (NASDAQ:CXPO) 25
Balance Sheet positioned for GROWTH (NASDAQ:CXPO) 26
Income Statement positioned for GROWTH (NASDAQ:CXPO) 27
Strong Hedge Position Aggressive hedging program to mitigate commodity price risk 2012 price floor of 97.92/bbl and 4.42/mmbtu Brent hedges capture current LLS/WTI spread for Eagle Ford and Woodbine oil production positioned for…
Reserve Summary 1P Reserves by PV-10 Unproved Potential by PV-10 (1) Based on 12/31/2011 SEC pricing. PV-10 value includes hedging effects. See Hydrocarbon Quantities & Drilling Locations. (2) Calculated using NYMEX Strip…
Drilling Metrics by focus Area Potential Unproven Locations Gross Spacing Initial Future Average Average Well Average Net Area Acres Acres Dev. Infill WI Cost EUR/Well % Oil Potential Eagle Ford Zavala County 4,675 160/80 28 29 50%…
Experienced Senior Management Team Current Position and Past Experience President, Chief Executive Officer and Director (since 2005) Allan D. Keel VP / GM, Westport Resources President / COO, Mariner Energy & Woodside Energy…
positioned for GROWTH GHS 100 Energy Conference Company Overview June 2012
Loading...
