Contango Oil & Gas Company, an independent oil and natural gas company, acquires, explores, develops, exploits, and produces crude oil and natural gas properties in the shallow waters of the Gulf of Mexico and onshore properties in Texas, Oklahoma, Louisiana, and Wyoming in the United States. As of December 31, 2020, it had proved reserves of approximately 34.2 million barrels of oil or other liquid hydrocarbons equivalent, consisting of 13.0 million barrels of oil, 84.5 billion cubic feet of natural gas, and 7.2 million barrels of natural gas liquids. The company was founded in 1986 and is headquartered in Houston, Texas.
IPO Year: n/a
Exchange: AMEX
Website: contango.com
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FORT WORTH, Texas, April 29, 2021 (GLOBE NEWSWIRE) -- Contango Oil & Gas Company (NYSE:MCF) ("Contango" or the "Company") today announced the appointment of Karen Simon and Janet Pasque to its Board of Directors (the "Board") effective immediately. Ms. Simon brings extensive experience in investment banking and corporate finance, particularly in capital markets and private equity, to the Contango Board. In addition, Ms. Pasque adds immense knowledge to the Board due to her long-tenure in the oil and gas industry, especially in business development and land. Mses. Simon and Pasque' wide-ranging knowledge will foster the Company's drive to be a market leader in ESG initiatives. As part of
FORT WORTH, Texas, Nov. 15, 2021 (GLOBE NEWSWIRE) -- Contango Oil & Gas Company (NYSE:MCF) ("Contango" or the "Company") announced today its financial results for the third quarter ended September 30, 2021. Third Quarter 2021 Highlights and Recent Developments Production sales of 2,426 MBoe for the third quarter of 2021, or 26.4 MBoe per day, compared to 1,587 MBoe, or 17.2 MBoe per day in the prior year quarter.Net loss was $15.2 million for the current year quarter, compared to a net loss of $6.8 million in the prior year quarter. Adjusting both quarters to exclude pre-tax, non-cash mark-to-market losses related to our commodity price derivatives of $35.5 million and $13.0 millio
FORT WORTH, Texas, Nov. 11, 2021 (GLOBE NEWSWIRE) -- Contango Oil & Gas Company (NYSE:MCF) ("Contango" or the "Company") announced today that it plans to issue its third quarter 2021 earnings release after market close on Monday, November 15, 2021. Teleconference Call In light of the previously announced Special Meeting of Shareholders of Contango scheduled to be held on December 6, 2021, whereby Contango shareholders will vote on the Proposed Merger with Independence Energy, LLC, the Company will not host a conference call to discuss the contents of the third quarter earnings release. We expect to include in the earnings release sufficient information to allow interested parties to full
FORT WORTH, Texas, Nov. 03, 2021 (GLOBE NEWSWIRE) -- Contango Oil & Gas Company (NYSE:MCF) ("Contango") today announced that it has set December 6, 2021 as the meeting date for the special meeting of its shareholders (the "Special Meeting") to approve its proposed business combination with Independence Energy LLC ("Independence "). The parties expect that the business combination will close on or about December 7, 2021, subject to approval of the business combination by Contango's shareholders and the satisfaction of other customary closing conditions. As previously announced, Contango and Independence have entered into a transaction agreement providing for the combination of Contango's b
FORT WORTH, Texas, Aug. 31, 2021 (GLOBE NEWSWIRE) -- Contango Oil & Gas Company (NYSE:MCF) ("Contango" or the "Company") today announced the successful completion of its previously announced acquisition of low decline, conventional gas assets in the Wind River Basin of Wyoming from ConocoPhillips. Highlights Assets acquired are PDP-heavy assets with a net production run rate of approximately 78 Mmcfe/d (100% gas), as of the effective date of the acquisition, and an expected 5% annual decline rate over the next 5 years.Significant potential for upside via Contango's track record of optimizing cash flow and reserves on acquired assets.Purchase price of $67 million, subject to customary pur
FORT WORTH, Texas, Aug. 11, 2021 (GLOBE NEWSWIRE) -- Contango Oil & Gas Company (NYSE:MCF) ("Contango" or the "Company") announced today its financial results for the second quarter ended June 30, 2021. Second Quarter 2021 Highlights and Recent Developments Production sales of 2,196 MBoe for the second quarter of 2021, or 24.1 MBoe per day, an increase from 1,469 MBoe, or 16.1 MBoe per day in the prior year quarter, primarily due to new production from the Mid-Con Acquisition and the Silvertip Acquisition (each as defined in our recently filed Form 10-Q for the second quarter of 2021), which closed on January 21, 2021 and February 1, 2021, respectively. Production sales volumes were al
FORT WORTH, Texas , Aug. 05, 2021 (GLOBE NEWSWIRE) -- Contango Oil & Gas Company (NYSE:MCF) ("Contango" or the "Company") announced today that it plans to issue its second quarter 2021 earnings release after market close on Wednesday, August 11, 2021. In conjunction with the release, Contango will conduct a conference call to discuss the contents of that release on Wednesday, August 11, 2021 at 4:00 pm Central Daylight Time. Teleconference Call Those interested in participating in the earnings conference call may do so by clicking here to join and entering your information to be connected. The link becomes active 15 minutes prior to the scheduled start time, and the conference coordinato
FORT WORTH, Texas, July 08, 2021 (GLOBE NEWSWIRE) -- Contango Oil & Gas Company (NYSE:MCF) ("Contango" or the "Company") announced today that it has entered into an agreement to acquire low decline, conventional gas assets in the Wind River Basin of Wyoming from ConocoPhillips. HIGHLIGHTS Acquisition of PDP heavy reserves for $67 million in cash, representing a discount to the proved producing reserve value of the assetNet production run rate of approximately 78 Mmcfe/d (~100% gas) as of July 1, 2021Expected to increase Contango's run rate production by approximately 57% in Q3 of 2021Expected production decline of approximately 5% per year over the next 5 yearsSignificant potential for u
Combined Company to Deliver Attractive Risk-Adjusted Returns through Cash Flow Oriented Business Model Projected to be Substantially Accretive to Contango’s Cash Flow Per Share by ~15% in 2021E and ~50% in 2022E1 Meaningful Immediate G&A Synergies with Further Savings Anticipated Companies to Host Joint Conference Call Today at 7:30 a.m. CT / 8:30 a.m. ET HOUSTON and FORT WORTH, Texas, June 08, 2021 (GLOBE NEWSWIRE) -- Independence Energy, LLC (“Independence”) and Contango Oil & Gas Company (NYSE American: MCF) (“Contango” or the “Company”) today announced that they have entered into a definitive agreement to combine in an all-stock transaction. The combination, which was unanimously
FORT WORTH, Texas, May 11, 2021 (GLOBE NEWSWIRE) -- Contango Oil & Gas Company (NYSE:MCF) ("Contango" or the "Company") announced today that it plans to issue its first quarter 2021 earnings release before market open on Thursday, May 13, 2021. In conjunction with the release, Contango will conduct a conference call to discuss the contents of that release on Thursday, May 13, 2021 at 8:00 am Central Daylight Time. Teleconference Call Those interested in participating in the earnings conference call may do so by clicking here to join and entering your information to be connected. The link becomes active 15 minutes prior to the scheduled start time, and the conference coordinator will
FORT WORTH, Texas, May 04, 2021 (GLOBE NEWSWIRE) -- Contango Oil & Gas Company (NYSE:MCF) ("Contango" or the "Company") announced today the amendment and expansion of its Senior Credit Facility led by JPMorgan Chase Bank under which the borrowing base has been increased from $120 million to $250 million. Credit Agreement Amendment On May 3, 2021, the Company entered into the Fifth Amendment (the "Amendment") to the Credit Agreement, dated as of September 17, 2019, by and among the Company, JPMorgan Chase Bank, N.A., as administrative agent, and the other participating lenders thereto (the "Credit Agreement"). The Amendment provides for, among other things, an increase in the borrowing b
Stephens & Co. initiated coverage of Contango Oil & Gas with a rating of Overweight and set a new price target of $5.00
FORT WORTH, Texas, Nov. 15, 2021 (GLOBE NEWSWIRE) -- Contango Oil & Gas Company (NYSE:MCF) ("Contango" or the "Company") announced today its financial results for the third quarter ended September 30, 2021. Third Quarter 2021 Highlights and Recent Developments Production sales of 2,426 MBoe for the third quarter of 2021, or 26.4 MBoe per day, compared to 1,587 MBoe, or 17.2 MBoe per day in the prior year quarter.Net loss was $15.2 million for the current year quarter, compared to a net loss of $6.8 million in the prior year quarter. Adjusting both quarters to exclude pre-tax, non-cash mark-to-market losses related to our commodity price derivatives of $35.5 million and $13.0 millio
FORT WORTH, Texas, Nov. 11, 2021 (GLOBE NEWSWIRE) -- Contango Oil & Gas Company (NYSE:MCF) ("Contango" or the "Company") announced today that it plans to issue its third quarter 2021 earnings release after market close on Monday, November 15, 2021. Teleconference Call In light of the previously announced Special Meeting of Shareholders of Contango scheduled to be held on December 6, 2021, whereby Contango shareholders will vote on the Proposed Merger with Independence Energy, LLC, the Company will not host a conference call to discuss the contents of the third quarter earnings release. We expect to include in the earnings release sufficient information to allow interested parties to full
FORT WORTH, Texas, Aug. 31, 2021 (GLOBE NEWSWIRE) -- Contango Oil & Gas Company (NYSE:MCF) ("Contango" or the "Company") today announced the successful completion of its previously announced acquisition of low decline, conventional gas assets in the Wind River Basin of Wyoming from ConocoPhillips. Highlights Assets acquired are PDP-heavy assets with a net production run rate of approximately 78 Mmcfe/d (100% gas), as of the effective date of the acquisition, and an expected 5% annual decline rate over the next 5 years.Significant potential for upside via Contango's track record of optimizing cash flow and reserves on acquired assets.Purchase price of $67 million, subject to customary pur
FORT WORTH, Texas, Aug. 11, 2021 (GLOBE NEWSWIRE) -- Contango Oil & Gas Company (NYSE:MCF) ("Contango" or the "Company") announced today its financial results for the second quarter ended June 30, 2021. Second Quarter 2021 Highlights and Recent Developments Production sales of 2,196 MBoe for the second quarter of 2021, or 24.1 MBoe per day, an increase from 1,469 MBoe, or 16.1 MBoe per day in the prior year quarter, primarily due to new production from the Mid-Con Acquisition and the Silvertip Acquisition (each as defined in our recently filed Form 10-Q for the second quarter of 2021), which closed on January 21, 2021 and February 1, 2021, respectively. Production sales volumes were al
FORT WORTH, Texas , Aug. 05, 2021 (GLOBE NEWSWIRE) -- Contango Oil & Gas Company (NYSE:MCF) ("Contango" or the "Company") announced today that it plans to issue its second quarter 2021 earnings release after market close on Wednesday, August 11, 2021. In conjunction with the release, Contango will conduct a conference call to discuss the contents of that release on Wednesday, August 11, 2021 at 4:00 pm Central Daylight Time. Teleconference Call Those interested in participating in the earnings conference call may do so by clicking here to join and entering your information to be connected. The link becomes active 15 minutes prior to the scheduled start time, and the conference coordinato
Contango acquires assets from Silvertip in the Big Horn, Permian, and Powder River BasinsAssets acquired are low decline, oily, and held by productionContango’s net producing oil decline rate projected to drop to approximately 11% in 2021 FORT WORTH, Texas, Feb. 01, 2021 (GLOBE NEWSWIRE) -- Contango Oil & Gas Company (NYSE American: MCF) (“Contango” or the “Company”) today announced the successful completion of its previously announced acquisition of assets located in the Big Horn, Permian, and Powder River Basins (“Project Silvertip”). In accordance with the terms of the Purchase and Sale Agreement (“PSA”), Contango acquired these assets for $58 million, subject to customary purchase p
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