Enhancing Value. Expanding the Opportunity. CONTANGO OIL & GAS COMPANY THE OIL & SERVICES CONFERENCE Enhancing Value. FEBRUARY 19, 2015 Expanding the Opportunity. (NYSE Mkt: MCF)
CORE ASSET OVERVIEW SOUTH TEXAS ELM HILL PROJECT Fayette, Gonzales, Bastrop, Caldwell EAST TEXAS Counties Upside: James Lime, Haynesveille / Mid-Bossier WYOMING NEW RESOURCE PLAY Muddy Sandstone - Weston County, Wyoming…
WHY INVEST IN CONTANGO 45.8 Mmboe (275 Bcfe) of proved reserves(1) Q4:14 production 106.2 Mmcfe/d Attractive Asset Base Strong cash flow 7X proved reserves (Bcfe) in unproved resource potential Operational control 80% SETX -…
DIVERSIFIED ASSET PROFILE Proved Reserves(1)(2) Q4 2014 Production (3) Offshore 144 Bcfe 52% Offshore 68 Mmcfe/d 64% Onshore 131 Bcfe 48% Onshore 38 Mmcfe/d 36% Total 275 Bcfe 106 Mmcfe/d Natural Gas 180 Bcf 65% Natural Gas 73…
GROWTH POTENTIAL SUMMARY PV-10 3,000 2,500 2,635 2,000 66% Liquids PV-10 MM (1) 1,500 1,000 1.8 Bn PV-10 of Unproved Potential 797 500 35% Liquids 0 Proved (1) Madison / South Other STX - Elm Hill Wyoming -…
2015 CAPITAL PROGRAM Investment Philosophy and Strategy As a result of the dramatic downturn in commodity prices, we will reduce our capital program to: Limit drilling expenditures to contractual or strategic minimums on our existing…
ONSHORE RESOURCE ASSETS LOW RISK, REPEATABLE LONG TERM GROWTH DRIVER Enhancing Value. Expanding the Opportunity. (NYSE Mkt: MCF)
ONSHORE ASSET OVERVIEW SOUTH TEXAS ELM HILLPROJECT Fayette, Gonzales, Bastrop, Caldwell Counties EAST TEXAS Upside: James Lime, Haynesveille / WYOMING NEW RESOURCE PLAY Mid-Bossier Muddy Sandstone - Weston County,…
ONSHORE ASSET OVERVIEW (12/31/14) Reserve PV-10 Production (Q4:14) Bcfe % PV Category (MM) Natural Gas (MMcf/d) 16.7 68% PD 65 208 60% Oil and condensate (Mbbl/d) 2.3 17% PUD 66 139 40% NGL (Mbbl/d) 1.2 15% Total 131 347…
SETX MADISON & GRIMES COUNTIES (WOODBINE EF GEORGETOWN - BUDA) Enhancing Value. Expanding the Opportunity. (NYSE Mkt: MCF)
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 26,000 gross (16,000 net) development acres operated in four…
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…
CURRENT OPERATED PRODUCTION & ACTIVITY LEON New Gulf Operated Production & Well Status 4Q 2014 average operated production Gross: 2,634 bopd and 10,583 Mcfd ROBERTSON Net: 2,678 boepd including NGLs MADISON Operated producing…
SETX WOODBINE PRODUCTION RESULTS Crow Unit B 1H Bar Unit B 1H 30 Day IP 260 Boed MADISON 30 Day IP 788 Boed Crow Unit A 2H Dean 1H 30 Day IP 793 Boed Chalktown Area 30 Day IP 927 Boed Force Area Crow Unit A 1H Vick Trust B 1H 30 Day…
STX ZAVALA & DIMMIT COUNTIES (BUDA LIMESTONE EAGLE FORD SHALE) Enhancing Value. Expanding the Opportunity. (NYSE Mkt: MCF)
STX BUDA / EAGLE FORD OVERVIEW BUDA EAGLE FORD 11,800 net acres 9,500 net acres Booth-Tortuga Area 80% HBP 70% HBP Zavala/Dimmit: 7,900 net acres Karnes: 1,100 net acres EURs: 100-300 Mboe Bee: 500 acres Well Costs: 2.0 3.5mm…
STX BUDA / EAGLE FORD PRODUCTION RESULTS Beeler 24H Contango Acreage Beeler 7H Drilled Pilot Hole 30 Day IP 187 Boed Contango Buda Operated Well Beeler D 16H Beeler 4H 30 Day IP 723 Boed Contango Buda Non-Operated Well 30 Day IP 1118…
NEW RESOURCE PLAYS Enhancing Value. Expanding the Opportunity. (NYSE Mkt: MCF)
ELM HILL PROJECT Asset Overview Bastrop Fayette 55,900 gross acres 25,100 Net acres Janecka 1 Fayette / Gonzales, Texas Caldwell 50% WI, Operator Cretaceous Sands Vinklarek 1 Spud 4 gross wells in 2014 8.2 MM, net 1…
FRAMS PROJECT Asset Overview WYOMING 120,000 gross acres 70,000 net acres Converse 60% WI Natrona Natrona County, Wyoming Drill to earn MCF State 35-79-16 (Completing) Mowry Shale, Frontier Sands One Gross well drilled in…
NORTH CHEYENNE PROJECT Asset Overview Sheridan Campbell Crook 49,000 gross acres 35,000 net acres Johnson 80% WI Weston County, Wyoming Drill to earn Muddy Sandstone formation MCF Test Well Weston Avg. depth 5,000-7,000…
N CHEYENNE LEASEHOLD WITH HISTORICAL NON CHANNEL MUDDY PRODUCERS 2,300 BO 1,000 BO 17,000 BO 16,400 BO 8,300 BO 132,700 BO 22571 82,500 BO 22529 1,000 BO 213,000 BO 22743 7,500 BO 35,000 BO 20824 11,000 BO 15,000 BO…
OTHER ONSHORE OPPORTUNITIES Enhancing Value. Expanding the Opportunity. (NYSE Mkt: MCF)
ETX -- JAMES LIME OVERVIEW SAN AUGUSTINE/SABINE COUNTIES Highlights James Lime Results Wells Producing: 2 Initial 30-Day IP: 710 Boepd 4,300 net acres San Augustine and Sabine Counties 80% HBP 2 Gross wells drilled and…
NIOBRARA PLAY COLORADO ACTIVITY Niobrara Highlights Contango acreage 11,200 net acres Contango 100% HBP Amoco State 44-16H Adams/Weld/Arapahoe Counties EUR: 300-500 Mboe(1) ADAMS Net Potential: 3.3 Mmboe(1) DENVER Well…
FUNDING THE FUTURE BALANCE SHEET STRENGTH SUPPORTS GROWTH OBJECTIVES Enhancing Value. Expanding the Opportunity. (NYSE Mkt: MCF)
STRONG FINANCIAL CONDITION Strong Balance Sheet 9/30/14 12/31/13 in millions Balance Sheet Data: Cash 0 0 Senior Debt 54 90 Shareholders Equity 595 593 Total Capitalization 649 683 Credit Statistics: Net Debt / Book…
LIQUIDITY Condensed Income Statement Nine Months Pro Forma Ended Twelve Months Ended in millions 9/30/14 12/31/13(2) Operating Revenues 226 257 Operating Expenses 36 54 Exploration Expenses (1) 33 3 Depreciation,…
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…
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 &…
Enhancing Value. Expanding the Opportunity. (NYSE Mkt: MCF)
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