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March 2018 30th Annual Roth Conference – Contango Oil & Gas Co.

Contango Oil & Gas Co. · Mar 12, 2018 · 23 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. March 2018 30th Annual Roth Conference – Contango Oil & Gas Co. – slide 1
    Enhancing Value. Expanding the Opportunity. 30TH ANNUAL ROTH CONFERENCE March 12, 2018
  2. March 2018 30th Annual Roth Conference – Contango Oil & Gas Co. – slide 2
    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 2018 focus will be on drilling in the Southern Delaware Basin Exchange/Ticker:…
  3. March 2018 30th Annual Roth Conference – Contango Oil & Gas Co. – slide 3
    WHY INVEST IN CONTANGO Significant dependable cash flows Financially Positioned Low leverage to Grow Simple capital structure with 28 million of revolver capacity at 12/31/17 13,600 (6,800 net) mostly contiguous undeveloped gross…
  4. March 2018 30th Annual Roth Conference – Contango Oil & Gas Co. – slide 4
    PROVEN PROVENASSET ASSET OVERVIEW PROFILE Gulf Coast and Rocky Mountain Operator 4Q:17 Production (Mboe/d) GoM Texas Exaro Other Gas NGL Oil Rocky Mountain Region (1) 1% 15% 16% Reserves: 5.2 MMboe PV-10: 26.0 MM 13% 4Q:17…
  5. March 2018 30th Annual Roth Conference – Contango Oil & Gas Co. – slide 5
    GROWTH POTENTIAL-NAV ESTIMATE Base Case Category (/share) Comments Proved Developed Reserves (1) 8.08 PV-10 at NYMEX Strip pricing Proved Undeveloped Reserves (1) 2.17 Risked at 90% of PV-10 at NYMEX Strip pricing Exaro Equity…
  6. March 2018 30th Annual Roth Conference – Contango Oil & Gas Co. – slide 6
    SOUTHERN DELAWARE BASIN SOUTHERN DELAWARE BASIN RECENTRECENT RELEVANT AREAAREA RELEVANT ACQUISITION ACTIVITY ACQUISITION ACTIVITY Callon Diamondback Acq of Ameredev Acq of Luxe Metrics: 16,100 Acres Metrics: 19,000 Acres…
  7. March 2018 30th Annual Roth Conference – Contango Oil & Gas Co. – slide 7
    SOUTHERN DELAWARE BASIN OPERATOR MAP SOUTHERN Contango Halcon Chevron Oxy Diamondback Parsley Concho
  8. March 2018 30th Annual Roth Conference – Contango Oil & Gas Co. – slide 8
    BULLSEYERECENT BULLSEYE 2018 BUDGET W ACTIVITY OFFSET 2017/2018 OFFSET ACTIVITY Contango Contango Contango Contango Halcon Oxy Ripper State1H Rude Ram 1H Gunner 2H Ragin Bull 3H Lindsey 1H Faraday 23 NE 2H IP30 884 Boepd (74%oil)…
  9. March 2018 30th Annual Roth Conference – Contango Oil & Gas Co. – slide 9
    CONTANGO BULLSEYE RESULTS 2018 BUDGET Well Name IP 30 (Boed) River Rattler 2H & 3H Lonestar Gunfighter 1H (A) 846 (70% oil) River Rattler 1H Ripper State 1H (A) 884 (74% oil) 8 9 Rude Ram 1H (A) 1,065 (68% oil) Ragin Bull 3H…
  10. March 2018 30th Annual Roth Conference – Contango Oil & Gas Co. – slide 10
    2017CAPITAL 2018 CAPITALPROGRAM PROGRAM Focus on Southern Delaware Basin Planned 2018 Activity: 52 million to continue developing the area Spud eight to nine wells while also completing eight to nine wells (including one well,…
  11. March 2018 30th Annual Roth Conference – Contango Oil & Gas Co. – slide 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…
  12. March 2018 30th Annual Roth Conference – Contango Oil & Gas Co. – slide 12
    DRILLING EFFICIENCY AND COSTS Drilling Efficiency Frac Costs 35 7,000 15% 1st Year -0.9 Significant Frac Cost Improvement Reduction made through Design Modifications and 32 Market Improvement 30 6,000 -0.4 PEAK COST: 6.7 M…
  13. March 2018 30th Annual Roth Conference – Contango Oil & Gas Co. – slide 13
    WTX WTXTYPE TYPE CURVE CURVEPERFORMANCE (CUM/TIME) 400 Current D,C,&F: 10.4 MM 3-Stream EUR: 1.6 Mboe 350 3-Stream 30-Day Peak IP: 862 Boepd 50 Oil - PV10 (MM)/IRR (%): 8.4 MM / 30% 60 Oil - PV10 (MM)/IRR (%): 12.5 MM / 42% 70…
  14. March 2018 30th Annual Roth Conference – Contango Oil & Gas Co. – slide 14
    WELLS WELLS AND AND INFRASTRUCTURE INFRASTRUCTURE RIVER RATLER 1H RAGIN BULL 3H RAGIN BULL 2H 2H SIDEWINDER 1H GUNNER 3H CRUSADER 2930 1H 15
  15. March 2018 30th Annual Roth Conference – Contango Oil & Gas Co. – slide 15
    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 Dimmit T Southeast…
  16. March 2018 30th Annual Roth Conference – Contango Oil & Gas Co. – slide 16
    OFFSHORE OFFSHORE STABLE STABLE CASHFLOW CASH FLOW GENERATOR GENERATOR Net Proved Reserves (12/31/2017)(1) Map of Locations Natural Gas (Mmcf) 61.4 Oil and Condensate (Mmbbls) 0.4 LOUISIANA NGL (Mmbbls) 1.9 Equiv. Bcfe 75.4…
  17. March 2018 30th Annual Roth Conference – Contango Oil & Gas Co. – slide 17
    CORE ONSHORE TEXAS Core Onshore Texas Acreage Summary Southern Delaware Basin 6,800 Eagle Ford/Eaglebine 16,600 Woodbine 12,100 James Lime 3,600 Conventional 40,000 Eagle Ford / Eaglebine Well Play Information - Woodbine…
  18. March 2018 30th Annual Roth Conference – Contango Oil & Gas Co. – slide 18
    STRONG FINANCIAL POSITION Liquidity and Leverage Profile 2018/2019 Hedge Positions Natural Gas US in millions, except where otherwise noted) 12/31/17 Period Derivative Vol/Month Price / Unit (1) Current Borrowing Base (as of…
  19. March 2018 30th Annual Roth Conference – Contango Oil & Gas Co. – slide 19
    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…
  20. March 2018 30th Annual Roth Conference – Contango Oil & Gas Co. – slide 20
    Enhancing Value. Expanding the Opportunity. APPENDIX
  21. March 2018 30th Annual Roth Conference – Contango Oil & Gas Co. – slide 21
    COMPANY COMPANYUPSIDE POTENTIAL(1)(1) UPSIDEPOTENTIAL West Texas SETX/STX Wyoming Southern Delaware Eagle Ford/Woodbine N. Cheyenne Muddy Potential Gross Locations 400 (2) 158 227 Average WI/NRI 42.5%/32% 71%/55% 80%/64% Average…
  22. March 2018 30th Annual Roth Conference – Contango Oil & Gas Co. – slide 22
    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…
  23. March 2018 30th Annual Roth Conference – Contango Oil & Gas Co. – slide 23
    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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