Recent Highlights John C. Goff and affiliated entities collectively purchased 18.8% of Contango shares outstanding during Summer of 2018 New Equity Successful value-based equity investor Ownership Current investor in Resolute Energy…
Strategic Initiatives New equity owners and management committed to initiatives to unlock embedded growth and long term value Differentiating core vs. non-core assets Portfolio Targeting accretive bolt-on acquisitions in Bullseye area…
Asset Overview Map of Key Assets (1) Southern Delaware Southern Delaware Core growth asset Pecos Co. 6,600 net acres within premier U.S. onshore play Acreage materially de-risked from recent development by Contango and offset…
Proved Reserves (1)(2)(3) Proved Reserves Proved (1)(2)(3) Oil Gas NGL Total PV-10 As of 9/30/2018 (MMBbl) (Bcf) (MMBbl) (MMBoe) (mm) PDP 3.0 50.2 2.4 13.8 176.0 PDNP 0.1 4.4 0.2 1.0 8.1 PUD 8.0 14.7 2.2 12.7 71.2 Total…
Bullseye Offset Acreage and Activity Detail Offset Asset Highlights Select Offset Activity Map 14 active rigs currently running Contango on offset acreage Reeves Co. Oxy FANG: 7 Halcon 14 FANG Oxy: 1 16 13 6 8 Rig Activity…
Midstream Optionality Asset Highlights Midstream Asset Maps Integrated gas and water infrastructure owned by Contango provides meaningful cost savings to upstream operations Pecos Co. Gas infrastructure: 12 miles of integrated gas…
Gulf of Mexico Asset Detail Asset Highlights Asset Map Comprised of two platforms: Eugene Island and Vermillion Shallow shelf position Stable production / cash flow base supported by active hedging program Proved Reserves: 8.7…
Non-Core Asset Portfolio Asset Highlights Asset Maps Potential sale candidates enhance liquidity and South Texas Southeast Texas financial flexibility Received multiple, unsolicited inbound indications of interest on various assets…
Q3 2018 Results Q3 Quarterly Results Summary Nine Months Q3 Company Guidance Q3 2018 Actual Ended Q3 2018 Production (MBoe/d) 7.2 - 8.0 7.3 7.6 Revenue (mm) -- 19.5 58.4 Lease Operating Expenses (Including Transportation and…
Current Financial Position Credit Facility Update Liquidity Profile (US in millions, except where otherwise noted) 9/30/2018 Not over-levered, just requires additional liquidity for growth Current Borrowing Base 105.0 Borrowing…
Hedging Profile as of 9/30/2018(1) Go-Forward Hedge Strategy Hedging is utilized to help ensure a minimum amount of cash flow to pursue capital expenditure program Typically target a minimum of 50% of forecasted PDP for 12-18 months…
Why Contango New Key Stakeholders Value-Based Equity Ownership New Management and Directors committing time and capital to transforming business Long-term, growth-oriented investment platform Current Strategic Initiatives…
APPENDIX
Southern Delaware Basin Recent Relevant Area Acquisition Activity 1 Diamondback 1 Acq of Luxe Metrics: 19,000 Acres 27K/undeveloped acre 2 Noble Acq of CWEI 4 Metrics: 71,000 Acres 32K/undeveloped acre 3 Oxy Acq of JCT/Patriot…
Stratigraphic Section Delaware Basin Faraday 23 Quantified 42371392480000 Unquantified Avalon 200 ft 34 Avalon Significant in-place resource yet to be Unquantified exploited Unquantified Remaining OOIP: 35-40 MMBo/sec…
PV-10 Reconciliation PV-10 is a non-GAAP financial measure and represents the present value, discounted at 10% per year, of estimated future cash inflows from proved natural gas and crude oil reserves, less future development and…
Adjusted EBITDAX 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 the…
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