Carbon Energy Corporation · OTC:CRBO
Carbon Energy — Shareholder Meeting (June 2024)
14 slides from Carbon Energy's shareholder meeting presentation, Jun 6, 2024
Slide 1: Carbon Energy Corporation Annual Meeting Presentation
Carbon Energy Corporation Annual Meeting Presentation June 6, 2024 1
Slide 2: Important Disclosures
IMPORTANT DISCLOSURES Forward-Looking Statements The slides contain certain information that predicts, projects, or uses future events as expectations or possibilities (each, a “forward-looking statement”). Except for historical information, statements made in the slide presentation, including those
Slide 3: Carbon Energy Corporation ownership of Carbon California Company LLC
Carbon Energy Corporation Carbon California Company LLC 53.92% 3
Slide 4: Carbon Energy Financial Summary
Carbon Energy Financial Summary Consolidated results of Carbon Energy include Carbon California Year Ended December 31, 2023 (in thousands, except production and per unit data) (unaudited) Revenue: Total Revenue $ 36,238 Expenses: Total Expenses $ 28,814 Operating income $ 7,424 Other income and (ex
Slide 5: Carbon Energy Financial Summary
Carbon Energy Financial Summary (1) Total Assets $2,939,000 Debt $0 Outstanding Common Shares 2,089,739 (1) $2,790,000 Restricted Cash Escrow December 31, 2023 5
Slide 6: Carbon California Credit Facilities
Carbon California Credit Facilities Carbon California Company, LLC ($000) • Senior Credit Facility $30,389 • Subordinated Debt $17,995 Debt is non-recourse to Carbon Energy Corporation December 31, 2023 6
Slide 7: Carbon California Company, LLC
Carbon California Company, LLC June 2024 7
Slide 8: California Oil and Gas Basins
California Oil and Gas Basins Petrolia Sacramento Sacramento Basin San Francisco San Joaquin Basin Santa Cruz Salinas Basin Bakersfield Santa Maria Basin Ventura Ventura Basin Los Angeles Basin Los Angeles _______________________________ San Diego 8 8
Slide 9: Ventura Basin Field Development
Ventura Basin Field Development | Carbon California Operated Fields a Fields Operated By Others Ventura’ County Los Angeles County Temescal/. Piru Creek / Wayside Canyon Hopper Canyon Be, . = Rancho Mires Gone Timber, Del Vato ae Canyo. e ky ~ae “4 s i aa Clarita ie ° 4 Fillmore re aS e Santa Paula
Slide 10: California Growth Strategy: Asset Development
Carbon California Growth Strategy Asset Development Ventura Basin, California The Ventura Basin of California presents an excellent opportunity to acquire and develop a portfolio of light oil, low operating cost producing properties. Carbon has successfully executed field development projects in
Slide 11: California Growth Strategy: Asset Development
Carbon California Growth Strategy Asset Development Health, Safety and Environmental best practices and compliance Build value from acquired assets through acreage position • 17,071 gross acres / 16, 774 net acres • Lease operating expense reductions • 7,725 net acres mineral fee • Gathering and i
Slide 12: Carbon California Company LLC Reserves and Production
Carbon Energy Corporation Carbon California Company LLC PV10% mmboe $million Proved Reserves 16 $82% Oil 200& NLG Proved Developed Reserves 14 $ 180 Proved Undeveloped Reserves 2 $ 20 Oil (barrels of oil per day) 1,100 Natural Gas (mcf of gas per day) 1,500 Natural Gas Liquids (barrels of oil per da
Slide 13: Meeting Open to Shareholder Questions
Carbon Energy Corporation Meeting Open to Shareholder Questions 13
Slide 14: Office addresses and website
200 Union Blvd, Suite 200 Lakewood, CO 80228 270 Quail Ct, Suite B Santa Paula, CA 93060 www.carbonenergycorp.com