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Jefferies 2012 Global Energy Conference – Crimson Exploration Inc.

Crimson Exploration Inc. · Nov 28, 2012 · 27 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. Jefferies 2012 Global Energy Conference – Crimson Exploration Inc. – slide 1
    positioned for GROWTH Jefferies 2012 Global Energy Conference Company Overview November 28, 2012
  2. Jefferies 2012 Global Energy Conference – Crimson Exploration Inc. – slide 2
    Crimson Overview Geographic Focus Area CO Key Information 2012 & 2013 Target Areas Exchange/Ticker: NasdaqGM:CXPO Share Price(1): 3.00/share 52-week Range(1): 2.41 - 5.69 East Texas TX Southeast Market Capitalization: 138…
  3. Jefferies 2012 Global Energy Conference – Crimson Exploration Inc. – slide 3
    Investment Highlights Attractive asset base 33.4 Mmboe (200.4 Bcfe) of proved reserves(1); 20% increase over 2010 258 Mmboe of unproved reserve potential (9x proved reserves); over 1,200 drilling locations Q3 2012 production of 6,460…
  4. Jefferies 2012 Global Energy Conference – Crimson Exploration Inc. – slide 4
    Track Record of Reserve Growth 200.4 Bcfe (33.4 Mmboe) 166.5 Bcfe 19% (27.8 Mmboe) 19% 97.5 Bcfe (16.3 Mmboe) 28% 81% 81% 72% Note: 2009 2011 reserves at SEC pricing per NSAI. Crude Oil and Natural Gas Liquids…
  5. Jefferies 2012 Global Energy Conference – Crimson Exploration Inc. – slide 5
    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…
  6. Jefferies 2012 Global Energy Conference – Crimson Exploration Inc. – slide 6
    Proved Reserve & Unproved Potential Summary PV-10 2.0 Bn PV-10 of Repeatable, Unproved Unconventional Potential (2) (2) (1) (2) (2) (2) (2) % Liquids 19% 92% 13% 23% 87% 74% 52% MMBOE 33.4 3.3 20.9 73.1 29.2 131.2…
  7. Jefferies 2012 Global Energy Conference – Crimson Exploration Inc. – slide 7
    Transitioned to a Balanced Oil / Gas Profile Crimson has successfully transitioned to a balanced production profile of approximately 50% crude oil and natural gas liquids Third quarter liquids production averaged 50%, up from 29% in…
  8. Jefferies 2012 Global Energy Conference – Crimson Exploration Inc. – slide 8
    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…
  9. Jefferies 2012 Global Energy Conference – Crimson Exploration Inc. – slide 9
    Crimsons Woodbine Exposure Madison/Grimes County 2 High impact oil re-development I. SHUTE A. PYE 206 186 A. BALLE 1066 HOUSTON FRANK Encana Crimson Grace Hall 1H J. HUNTER 110 LONE FR ANK 1 Devon Mathis 2H…
  10. Jefferies 2012 Global Energy Conference – Crimson Exploration Inc. – slide 10
    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…
  11. Jefferies 2012 Global Energy Conference – Crimson Exploration Inc. – slide 11
    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…
  12. Jefferies 2012 Global Energy Conference – Crimson Exploration Inc. – slide 12
    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 EOG Donaho 1H Eagle Ford Horizontal Crimson acreage…
  13. Jefferies 2012 Global Energy Conference – Crimson Exploration Inc. – slide 13
    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 (90.7% WI) KM…
  14. Jefferies 2012 Global Energy Conference – Crimson Exploration Inc. – slide 14
    Eagle Ford Littlepage-McBride/Glasscock; 970 Mboe Produced Since 4/2011 EOG Estes Unit EOG Lyssy Unit EOG Horse Thief Unit Crimson Glasscock IP & Cum 11/18/12 A-1H: 726 Boe/d & 83 MBOe B-1H : 685 Boe/d & 55 MBOe EOG Orr Unit 2H…
  15. Jefferies 2012 Global Energy Conference – Crimson Exploration Inc. – slide 15
    Eagle Ford Zavala/Dimmit County Crimson KM Area BHP 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…
  16. Jefferies 2012 Global Energy Conference – Crimson Exploration Inc. – slide 16
    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 A. B. & M. J 1H CATTLE CO. 60 T. HOLDSWORTH 1095 1278 Chesapeake A. B.…
  17. Jefferies 2012 Global Energy Conference – Crimson Exploration Inc. – slide 17
    James Lime Liquids San Augustine/Sabine County Crimson Blue 1 Eagle Halbert 1 San Augustine Co, Texas San Augustine Co, Texas James Lime Angie Field James Lime Avg EUR: 2.3 BCF (Dry Gas) 3) DVN Kardell 2H 1) DVN Skillern 2H…
  18. Jefferies 2012 Global Energy Conference – Crimson Exploration Inc. – slide 18
    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…
  19. Jefferies 2012 Global Energy Conference – Crimson Exploration Inc. – slide 19
    NAV Estimate Category Base Case Upside Case Comments Proved Developed Reserves(1) 4.75 4.75 PV-10 at NYMEX Strip pricing Proved Undeveloped Reserves(1) 2.23 2.23 PV-10 at NYMEX Strip pricing Less: Net Debt(2) (5.23) (5.23) Total…
  20. Jefferies 2012 Global Energy Conference – Crimson Exploration Inc. – slide 20
    Investment Highlights Attractive asset base 33.4 Mmboe (200.4 Bcfe) of proved reserves(1) 9x unproved reserve potential Operational control 80% Near term catalysts Horizontal Woodbine/Lewisville/Georgetown Eagle Ford Shale…
  21. Jefferies 2012 Global Energy Conference – Crimson Exploration Inc. – slide 21
    Appendix positioned for GROWTH (NASDAQ:CXPO) 22
  22. Jefferies 2012 Global Energy Conference – Crimson Exploration Inc. – slide 22
    Balance Sheet positioned for GROWTH (NASDAQ:CXPO) 23
  23. Jefferies 2012 Global Energy Conference – Crimson Exploration Inc. – slide 23
    Income Statement positioned for GROWTH (NASDAQ:CXPO) 24
  24. Jefferies 2012 Global Energy Conference – Crimson Exploration Inc. – slide 24
    Strong Hedge Position Aggressive hedging program to mitigate commodity price risk 2012 price floor of 97.92/bbl and 5.00/mmbtu Brent hedges capture current LLS/WTI spread for Eagle Ford and Woodbine oil production positioned for…
  25. Jefferies 2012 Global Energy Conference – Crimson Exploration Inc. – slide 25
    Drilling Metrics by Focus Area Gross Spacing Drilling Average Average Well Average Net Area Acres (Acres) Locations WI Cost EUR/Well % Oil Potential Madisonville Force Area - Woodbine 8,590 160 48 65% 6.5-7.5 MM 450-500 mboe 92%…
  26. Jefferies 2012 Global Energy Conference – Crimson Exploration Inc. – slide 26
    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…
  27. Jefferies 2012 Global Energy Conference – Crimson Exploration Inc. – slide 27
    positioned for GROWTH Jefferies 2012 Global Energy Conference Company Overview November 28, 2012

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