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INVESTOR PRESENTATION – Contango Oil & Gas Co.

Contango Oil & Gas Co. · Oct 31, 2014 · 38 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. INVESTOR PRESENTATION – Contango Oil & Gas Co. – slide 1
    Enhancing Value. Expanding the Opportunity. CONTANGO OIL & GAS COMPANY OCTOBER 2014 Enhancing Value. Expanding the Opportunity. (NYSE Mkt: MCF)
  2. INVESTOR PRESENTATION – Contango Oil & Gas Co. – slide 2
    COMPANY OVERVIEW Exchange/Ticker: NYSE Mkt: MCF Daily Production (Q2:14) 116 Mmcfed LTM Adjusted Proforma Share Price (1): 33.24 190 million EBITDAX (6/30/14) Shares O/S: 19.4 million Proved PV-10 Value (3): 987 million…
  3. INVESTOR PRESENTATION – Contango Oil & Gas Co. – slide 3
    CORE ASSET OVERVIEW SOUTH CENTRAL TEXAS NEW RESOURCE PLAY Fayette, Gonzales, Caldwell, Bastrop EAST TEXAS counties Upside: James Lime, Haynesveille / Mid-Bossier WYOMING NEW RESOURCE PLAY Muddy Sandstone - Weston County,…
  4. INVESTOR PRESENTATION – Contango Oil & Gas Co. – slide 4
    WHY INVEST IN CONTANGO 52.3 Mmboe (314 Bcfe) of proved reserves(1) Q2:14 production 116 Mmcfe/d Attractive Asset Base Strong cash flow 7X proved reserves (Bcfe) in unproved resource potential Operational control 80% SETX - Hz…
  5. INVESTOR PRESENTATION – Contango Oil & Gas Co. – slide 5
    DIVERSIFIED ASSET PROFILE Reserves / Production Q2 2014 Revenue 60% shallow water GOM Strong cash flow NGLs 40% onshore resource plays 11% Natural Gas Low risk, repeatable; long term growth 40% 78.4 MM Onshore Oil GOM 53%…
  6. INVESTOR PRESENTATION – Contango Oil & Gas Co. – slide 6
    GROWTH POTENTIAL SUMMARY PV-10 5,612 5,000 4,000 PV-10 MM (1) 3,000 68% Liquids 2,000 4.6 Bn PV-10 of Unproved Potential (2) 1,000 987 34% Liquids 0 (1) (3) (4) Proved Reserves Madison / STX - Eagle Ford…
  7. INVESTOR PRESENTATION – Contango Oil & Gas Co. – slide 7
    2014 CAPITAL PROGRAM Development Strategy Fund exploration and development with cash flow Primary focus on liquids-rich onshore resource plays Advantage of being substantially held by production 2014 Activity -- 215MM - 225MM; 47…
  8. INVESTOR PRESENTATION – Contango Oil & Gas Co. – slide 8
    2014 ONSHORE DRILLING RESULTS Number of Average 30 Average MD Average Average Frac Project Area OP/NON Status Wells Day IP (BOED) Average % Oil Ft Lateral Ft. Stages FORCE OP Producing 7 653 84% 15,257 6,057 23 Total 7…
  9. INVESTOR PRESENTATION – Contango Oil & Gas Co. – slide 9
    LIQUIDS FOCUSED STRATEGY & GROWTH 700 10,000 650 8,000 600 Liquids Production (MBbls) Total Production (Mmcfe) 550 6,000 500 4,000 450 2,000 400 0 350 1Q:13 2Q:13 3Q:13 4Q:13 1Q:14 2Q:14 Total…
  10. INVESTOR PRESENTATION – Contango Oil & Gas Co. – slide 10
    ONSHORE RESOURCE ASSETS LOW RISK, REPEATABLE LONG TERM GROWTH DRIVER Enhancing Value. Expanding the Opportunity. (NYSE Mkt: MCF)
  11. INVESTOR PRESENTATION – Contango Oil & Gas Co. – slide 11
    ONSHORE ASSET OVERVIEW SOUTH CENTRAL TEXAS NEW RESOURCE PLAY Fayette, Gonzales, Caldwell, Bastrop counties EAST TEXAS Upside: James Lime, Haynesveille / WYOMING NEW RESOURCE PLAY Mid-Bossier Muddy Sandstone - Weston County,…
  12. INVESTOR PRESENTATION – Contango Oil & Gas Co. – slide 12
    ONSHORE ASSET OVERVIEW (1/1/14) Reserve PV-10 Production (Q2:14) % Bcfe % PV Category (MM) Natural Gas MMcf/d) 20.2 43% PD 67.7 253.5 59% Oil and condensate (Mbbl/d) 3.4 43% PUD 55.7 179.1 41% NGL (Mbbl/d) 1.1 14% Total…
  13. INVESTOR PRESENTATION – Contango Oil & Gas Co. – slide 13
    SETX MADISON & GRIMES COUNTIES (WOODBINE EF GEORGETOWN - BUDA) Enhancing Value. Expanding the Opportunity. (NYSE Mkt: MCF)
  14. INVESTOR PRESENTATION – Contango Oil & Gas Co. – slide 14
    MADISON / GRIMES HIGHLIGHTS Stacked pay zones in over 4,000 feet of productive stratigraphic column; primary target to-date is horizontal development of the Woodbine which has several producing members 26,000 gross (18,000 net)…
  15. INVESTOR PRESENTATION – Contango Oil & Gas Co. – slide 15
    WELL-POSITIONED FOR MULTIPLE-HORIZON DEVELOPMENT OPPORTUNITIES Assets are in prime location to take advantage of over 4,000 of productive stratigraphic column Leasehold is in the epicenter of recent industry activity where…
  16. INVESTOR PRESENTATION – Contango Oil & Gas Co. – slide 16
    AREA TYPE LOG & DEVELOPMENT TARGETS Area Type Log Primary Development Targets 1 Woodbine C: West Iola Force Substantial legacy vertical oil production and 200 Austin Chalk new generation horizontal wells drilled in the…
  17. INVESTOR PRESENTATION – Contango Oil & Gas Co. – slide 17
    CURRENT OPERATED PRODUCTION & ACTIVITY LEON New Gulf Operated Production & Well Status September 2014 average operated production ROBERTSON Gross: 3,571 bopd and 13,504 Mcfd MADISON Net: 3,545 boepd including NGLs Operated…
  18. INVESTOR PRESENTATION – Contango Oil & Gas Co. – slide 18
    STX ZAVALA & DIMMIT COUNTIES (BUDA LIMESTONE EAGLE FORD SHALE) Enhancing Value. Expanding the Opportunity. (NYSE Mkt: MCF)
  19. INVESTOR PRESENTATION – Contango Oil & Gas Co. – slide 19
    STX BUDA OVERVIEW Highlights Buda Results Planned Locations Wells Producing: 17 Avg. 24-Hr IP: 953 Boepd Offset Activity Avg. 30-Day IP: 632 Boepd 8,700 net acres Contango acreage Booth-Tortuga Area 49 % HBP Zavala 17 Gross…
  20. INVESTOR PRESENTATION – Contango Oil & Gas Co. – slide 20
    STX EAGLE FORD OVERVIEW Highlights Eagleford Producers Contango Acreage 9,500 net acres 80% HBP Zavala/Dimmit: 7,900 net acres Karnes: 1,100 net acres Bee: 500 acres 212 Locations (80-100 acre spacing) Zavala EURs:…
  21. INVESTOR PRESENTATION – Contango Oil & Gas Co. – slide 21
    NEW RESOURCE PLAYS Enhancing Value. Expanding the Opportunity. (NYSE Mkt: MCF)
  22. INVESTOR PRESENTATION – Contango Oil & Gas Co. – slide 22
    PROSPECT ECONOMICS FRAMS - Mowry Vertical vs. Type Curve N. Cheyenne - Muddy Vertical vs. Type Curve Elm Hill Fayette Co. Vertical vs. Type Curve 300,000 300,000 300,000 250,000 250,000 250,000 200,000 200,000 200,000…
  23. INVESTOR PRESENTATION – Contango Oil & Gas Co. – slide 23
    ELM HILL PROJECT Asset Overview Bastrop 48,000 gross acres 21,000 Net acres Fayette / Gonzales, Texas Caldwell Initial Fayette 50% WI, Operator Location Cretaceous Sands 4 Gross wells planned for 2014 11 MM, net 200…
  24. INVESTOR PRESENTATION – Contango Oil & Gas Co. – slide 24
    FRAMS PROJECT Asset Overview 120,000 gross acres 93,000 net acres Black Diamond Natrona 80% WI 2011 failed horizontal completion 56.0 lateral; one stage open hole diesel frac Natrona County, Wyoming Perforation in heel Drill…
  25. INVESTOR PRESENTATION – Contango Oil & Gas Co. – slide 25
    NORTH CHEYENNE PROJECT Asset Overview Sheridan Campbell Crook 49,000 gross acres 90% WI Johnson 44,000 net acres Weston County, Wyoming Drill to earn MCF Test Well Weston Muddy Sandstone formation Fiddler Creek Fld Avg.…
  26. INVESTOR PRESENTATION – Contango Oil & Gas Co. – slide 26
    OTHER ONSHORE OPPORTUNITIES Enhancing Value. Expanding the Opportunity. (NYSE Mkt: MCF)
  27. INVESTOR PRESENTATION – Contango Oil & Gas Co. – slide 27
    ETX -- JAMES LIME OVERVIEW SAN AUGUSTINE/SABINE COUNTIES Highlights James Lime Results Wells Producing: 2 Avg. 30-Day IP: 710 Boepd 4,800 net acres San Augustine and Sabine Counties 80% HBP 2 Gross wells drilled and completed…
  28. INVESTOR PRESENTATION – Contango Oil & Gas Co. – slide 28
    NIOBRARA PLAY COLORADO ACTIVITY Niobrara Highlights Contango acreage 11,200 net acres Contango 100% HBP Amoco State 4416H Adams/Weld/Arapahoe Counties 1 gross well possibly planned for late-2014 (3 MM, net) ADAMS DENVER…
  29. INVESTOR PRESENTATION – Contango Oil & Gas Co. – slide 29
    FUNDING THE FUTURE BALANCE SHEET STRENGTH SUPPORTS GROWTH OBJECTIVES Enhancing Value. Expanding the Opportunity. (NYSE Mkt: MCF)
  30. INVESTOR PRESENTATION – Contango Oil & Gas Co. – slide 30
    LIQUIDITY Strong Balance Sheet 6/30/14 12/31/14 in millions Balance Sheet Data: Cash 0 0 Senior Debt 66 90 Stockholders Equity 590 593 Total Capitalization 656 683 Credit Statistics: Net Debt / Book Capitalization 10%…
  31. INVESTOR PRESENTATION – Contango Oil & Gas Co. – slide 31
    LIQUIDITY Condensed Income Statement Pro Forma Six Months Ended Twelve Months Ended 6/30/14 in millions 12/31/13(2) Operating Revenues 158,676 256,594 Operating Expenses 22,629 53,712 Exploration Expenses (1) 37,784…
  32. INVESTOR PRESENTATION – Contango Oil & Gas Co. – slide 32
    PEER COMPARABLES EV/ RESERVES (/MCFE) 7.00 6.17 6.00 5.00 4.32 4.00 3.59 3.33 3.20 3.11 3.10 3.06 2.95 2.83 2.76 2.73 3.00 2.24 2.00 1.39 1.12 1.00 Peer 1 Peer 2 Peer 3 Peer 4 Peer 5 Peer 6 Peer 7 Average Peer 8…
  33. INVESTOR PRESENTATION – Contango Oil & Gas Co. – slide 33
    WHY INVEST IN CONTANGO 52.3 Mmboe (314 Bcfe) of proved reserves(1) Q2:14 production 116 Mmcfe/d Attractive Asset Base Strong cash flow 7X proved reserves (Bcfe) in unproved resource potential Operational control 80% SETX - Hz…
  34. INVESTOR PRESENTATION – Contango Oil & Gas Co. – slide 34
    APPENDIX Enhancing Value. Expanding the Opportunity. (NYSE Mkt: MCF)
  35. INVESTOR PRESENTATION – Contango Oil & Gas Co. – slide 35
    OFFSHORE ASSET OVERVIEW Reserve PV-10 Production (Q2 2014) % Bcfe % Category (MM) Natural Gas MMcf/d) 53.8 78% PD 187.9 541.2 98% Oil and condensate (Mbbl/d) 0.8 7% PUD 2.6 13.3 2% NGL (Mbbl/d) 1.7 15% Total 190.5 554.5 100%…
  36. INVESTOR PRESENTATION – Contango Oil & Gas Co. – slide 36
    MAJOR OFFSHORE ASSETS Eugene Island 11 Vermilion 170 Company-owned and operated Company-owned and operated 10 producing wells drilled from 2006 2010 Single well structure drilled in 2011 Companion platform and two pipelines to…
  37. INVESTOR PRESENTATION – Contango Oil & Gas Co. – slide 37
    MANAGEMENT Current Position and Past Experience President, Chief Executive Officer and Director President/CEO, Crimson Exploration Inc. (since 2005) Allan D. Keel VP / GM, Westport Resources President / COO, Mariner Energy &…
  38. INVESTOR PRESENTATION – Contango Oil & Gas Co. – slide 38
    Enhancing Value. Expanding the Opportunity. (NYSE Mkt: MCF)

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