Contango Announces Third Quarter 2021 Financial Results and Capital Program Update FORT WORTH, Texas, Nov. 15, 2021 (GLOBE NEWSWIRE) -- Contango Oil & Gas Company (NYSE American: 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 los...
Contango Announces Schedule for Third Quarter 2021 Earnings Release FORT WORTH, Texas, Nov. 11, 2021 (GLOBE NEWSWIRE) -- Contango Oil & Gas Company (NYSE American: 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 c...
Contango Sets Special Meeting Date to Approve Business Combination with Independence Energy, to be Renamed Crescent Energy Company FORT WORTH, Texas, Nov. 03, 2021 (GLOBE NEWSWIRE) -- Contango Oil & Gas Company (NYSE American: 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 bus...
Contango Completes Acquisition of Wind River Basin Assets FORT WORTH, Texas, Aug. 31, 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 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.S...
Contango Announces Second Quarter 2021 Financial Results and Capital Program Update FORT WORTH, Texas, Aug. 11, 2021 (GLOBE NEWSWIRE) -- Contango Oil & Gas Company (NYSE American: 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 Silverti...
Contango Announces Schedule for Second Quarter 2021 Earnings Release and Conference Call FORT WORTH, Texas , Aug. 05, 2021 (GLOBE NEWSWIRE) -- Contango Oil & Gas Company (NYSE American: 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 earn...
Contango Announces Signing of Agreement to Acquire Wind River Basin Assets FORT WORTH, Texas, July 08, 2021 (GLOBE NEWSWIRE) -- Contango Oil & Gas Company (NYSE American: 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, 2021Exp...
Independence Energy to Combine With Contango in All-Stock Merger to Create a Premier U.S. Independent Oil and Gas Company 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...
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Contango Announces First Quarter 2021 Financial Results FORT WORTH, Texas, May 13, 2021 (GLOBE NEWSWIRE) -- Contango Oil & Gas Company (NYSE American: MCF) (“Contango” or the “Company”) announced today its financial results for the first quarter ended March 31, 2021. First Quarter 2021 Highlights and Recent Developments Production sales of 1,773 MBoe for the first quarter of 2021, or 19.7 MBoe per day, an increase from 1,720 MBoe, or 18.9 MBoe per day in the prior year quarter, primarily due to new production from the Mid-Con Acquisition and the Silvertip Acquisition (both as defined ...
Contango Announces Schedule for First Quarter 2021 Earnings Release and Conference Call FORT WORTH, Texas, May 11, 2021 (GLOBE NEWSWIRE) -- Contango Oil & Gas Company (NYSE American: 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 con...
Contango Announces Expansion of its Senior Credit Facility FORT WORTH, Texas, May 04, 2021 (GLOBE NEWSWIRE) -- Contango Oil & Gas Company (NYSE American: 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., a...
Contango Announces the Appointment of Two New Directors FORT WORTH, Texas, April 29, 2021 (GLOBE NEWSWIRE) -- Contango Oil & Gas Company (NYSE American: 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...
Contango Announces Fourth Quarter and Full Year 2020 Financial Results FORT WORTH, Texas, March 10, 2021 (GLOBE NEWSWIRE) -- Contango Oil & Gas Company (NYSE American: MCF) (“Contango” or the “Company”) announced today its financial results for the fourth quarter and twelve months ended December 31, 2020. Fourth Quarter 2020 Highlights and Recent Developments Production sales of 1,321 MBoe for the quarter, or 14.4 MBoe per day, within guidance for the quarter. Assuming we had owned MCEP and Silvertip during the fourth quarter, our pro forma production sales would have been 24.5 MBoe per...
Contango Announces Schedule for Fourth Quarter 2020 Earnings Release and Conference Call FORT WORTH, Texas, March 08, 2021 (GLOBE NEWSWIRE) -- Contango Oil & Gas Company (NYSE American: MCF) (“Contango” or the “Company”) announced today that it plans to issue its fourth quarter 2020 earnings release before market open on Wednesday, March 10, 2021. In conjunction with the release, Contango will conduct a conference call to discuss the contents of that release on Wednesday, March 10, 2021 at 8:00 am Central Standard Time. A presentation related to certain items to be discussed on the call w...
Upgrading Financials To Overweight, Downgrading Technology & Consumer Discretionary The recent rate surge has upset the picture for growth stocks and, consequently, the S&P 500 is going through a consolidation phase. While we cannot say precisely how deep this pullback will be or if the lows are already in, ongoing positive market dynamics tell us the pullback is likely to be contained and therefore should be viewed as a buying opportunity. With that said, a break below 3789 would signal additi...
Contango Completes Acquisition of Silvertip Assets 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”)....
Contango Comments on DOI 60-Day Suspension of Leasing and Permitting on Federal Lands and Provides Update on Silvertip Acquisition Closing Temporary suspension of approvals expected to have no impact on legacy Contango production or production acquired through Mid-Con Energy Partners (“MCEP”) and Silvertip transactionsPine Tree growth project acquired in the MCEP transaction already has necessary permits approved for base case development programTemporary suspension not expected to interfere with any plans to restore shut in production with favorable economics at current oil prices across t...
Contango Completes Acquisition of Mid-Con Energy Partners Mid-Con Energy Partners unitholders receive 1.75 Contango share per MCEP unitContango’s and Mid-Con’s operations will be consolidated in Fort Worth, TXAs a result, John Goff, Contango’s Chairman and largest shareholder, ownership in Contango increases to 24.3% FORT WORTH, Texas, Jan. 21, 2021 (GLOBE NEWSWIRE) -- Contango Oil & Gas Company (NYSE American: MCF) (“Contango” or the “Company”) today announced the successful completion of its acquisition of Mid-Con Energy Partners, LP (“Mid-Con”) (NASDAQ: MCEP). In accordance with the...
Contango Oil & Gas Company and Mid-Con Energy Partners, LP Announce Unitholder Consent Deadline and Anticipated Closing Date of Merger FORT WORTH, Texas and TULSA, Okla., Dec. 21, 2020 (GLOBE NEWSWIRE) -- Contango Oil & Gas Company (“Contango”) (NYSE American: MCF) and Mid-Con Energy Partners, LP (“Mid-Con”) (NASDAQ: MCEP) today announced that the Mid-Con consent process will conclude on January 6, 2021. On December 18, 2020, the holders of common units representing limited partner interests in Mid-Con (“Mid-Con Common Units”) which holders beneficially own a majority of the outstanding ...
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