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Company Description

Contact Info

1675 Broadway

Suite 2200

Denver, CO 80202

United States

Phone: 303-794-8445

Fax: 303-794-8451

Escalera Resources Co. operates as an independent energy company. The company has development activities and opportunities in Wyoming, in both the Atlantic Rim and on the Pinedale Anticline. The company is pursuing new focus areas, including international and midstream opportunities. The Atlantic Rim Coalbed Natural Gas Project The Atlantic Rim play is located in Carbon County of south central Wyoming. The company has an interest in 95,269 gross (31,030 net) acres. Catalina Unit The Catalina Unit consists of approximately 21,500 gross (13,300 net) acres that the company operates. Its Catalina wells are located in two separate participating areas (PAs); PA ‘A’ consists of 71 wells in which it has an 85.53% interest and PA ‘B’ consists of 12 wells in which it has a 100% working interest. Production in the Catalina Unit resulted in net sales volumes of 4.9 billion cubic feet (Bcf) in 2013. During 2013, the company’s average daily net production at the Catalina Unit was 13,516 thousand cubic feet. Eastern Washakie Midstream Pipeline LLC (EWM) Through a wholly-owned subsidiary, EWM, the company owns a 13-mile pipeline and gathering assets (EWM Pipeline), which connect the Catalina Unit with the pipeline system owned by Southern Star Central Gas Pipeline, Inc. (Southern Star). The EWM Pipeline has a transportation capacity of approximately 125 million cubic feet per day. Spyglass Hill Unit The Spyglass Hill Unit encompasses approximately 113,300 gross (9,900 net) acres in an area to the north, east and south of the Catalina Unit. The company’s working interest in the unit is approximately 8.9%. In the Sun Dog PA, the company has ownership in a total of 10,851 gross (3,102 net) acres. As of December 31, 2013, the company’s working interest was 28.59% in the 114 production wells within this PA. In the Doty Mountain PA, it has ownership in a total of 6,884 acres (1,840 net). The company’s working interest as of December 31, 2013 was 26.73% in the 60 production wells in this PA. The operator drilled and completed 27 additional wells in the third quarter of 2013. The company also has interest in 6,282 gross (757 net) acres in the Grace Point Unit. This unit consists of 26 production wells. The Pinedale Anticline in the Green River Basin of Wyoming The Pinedale Anticline is in southwestern Wyoming. The company operates 2,400 acres covering 3 separate Mesa Units in which it holds a net acreage position of 124 acres. The Mesa Units on the Pinedale Anticline include approximately 218 non-operated wells. As of December 31, 2013, in the Mesa ‘A’ PA, there were 45 producing wells, in which it held a 0.3125% overriding royalty interest. The company owns approximately 600 gross (1.875 net) acres in the Mesa ‘A’ PA. In the Mesa ‘B’ PA, where the company has an 8% average working interest in the shallow producing formations and a 12.5% average working interest in the deep producing formations, there were 139 producing wells that produced 1,552 million cubic feet of gas equivalent in 2013, net to its interest. The company has 600 gross (64 net) acres in the shallower formations in the ‘B’ PA, and 800 gross (100 net) acres in the deep producing formations. 11 of the 139 wells came on-line for production during the first and second quarters 2013. In the Mesa ‘C’ PA, where the company has a working interest of 6.4%, 34 wells produced 268 million cubic feet of gas equivalent in 2013, net to its interest. The company has 1,000 gross (65.27 net) acres in the Mesa ‘C’ PA. As of December 31, 2013, the company had working interests or overriding royalty interests in a total of 4,840 acres in and around this developing natural gas field. Exploration Opportunities Niobrara Shale Formation (Niobrara) The Niobrara is an emerging oil play in the Rocky Mountain region of the United States. Niobrara is a thick and continuous Cretaceous source rock that ranges from 150 feet to 1,500 feet thick. The company completed a 9,400 foot test well located within its Atlantic Rim play in 2013. The company holds other acreage in Wyoming and western Nebraska. Northeast Nevada The company has leased 22,493 gross (6087 net) acres, in the Huntington Valley in Elko and White Pine Counties, Nevada. Main Fork Unit in Utah The Main Fork Unit is located on a structural dome in the southwest corner of the Green River Basin, in Summit County, Utah. Marketing and Major Customers The principal products produced by the company are natural gas and crude oil. These products are marketed and sold primarily to purchasers that have access to nearby pipeline facilities. The marketing of most of the company’s products is performed by a third-party marketing company, Summit Energy, LLC. Strategy Key elements of the company’s strategy include pursuing acquisitions and mergers; investing in and enhancing its existing production wells and field facilities on operated and non-operated properties in the Atlantic Rim; continuing participation in the development of tight sands gas wells at the Mesa Units on the Pinedale Anticline; and pursuing high quality exploration and strategic development projects with potential for providing long-term drilling inventories that generate high returns. Reserves As of December 31, 2013, the company had estimated proved reserves of 72.8 Bcf of natural gas and 314 thousand barrels of oil or other liquid hydrocarbons of oil, or a total of 74.7 billion cubic feet of gas equivalent. Significant Events In June 2014, Escalera Resources Co. announced that it has entered into a letter agreement to jointly initiate the development, construction and operations of a gas-to-liquids plant to be located in Cheyenne, Wyoming. History The company was founded in 1972. It was incorporated in Wyoming in 1972 and reincorporated in Maryland in 2001. The company was formerly known as Double Eagle Petroleum Co. and changed its name to Escalera Resources Co. in March 2014.

 

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