Key Developments: Contango Oil & Gas Co (MCF.A)

MCF.A on American Stock Exchange

30 Jan 2015
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Latest Key Developments (Source: Significant Developments)

Contango Oil & Gas Co gives Q4 2014 production guidance
Monday, 10 Nov 2014 07:30pm EST 

Contango Oil & Gas Co:Says that for the fourth quarter 2014 it expects production of 105,000 to 115,000 Mcfe per day.  Full Article

Contango Oil & Gas Co announces plan to repurchase shares under existing share repurchase program
Wednesday, 5 Nov 2014 02:08pm EST 

Contango Oil & Gas Co:Decides to resume the repurchase of its common shares under the Company's 2011 Share Repurchase Program.Board's decision to resume the repurchase of shares is based on its belief that the current market price reflects a significant discount to the estimated inherent value of the Company's stock and represents an excellent investment opportunity for its shareholders.Repurchased shares of common stock will become authorized but unissued shares, and may be reissued in the future for general corporate and other purposes.Program was approved and originally implemented in Sept. 2011, with a total of $50.0 mln authorized for the repurchase of shares.As of the date of this release, $39.2 mln remains available for share repurchases under the Program.  Full Article

Contango Oil & Gas Co gives Q1 2014 production guidance
Monday, 3 Mar 2014 09:35pm EST 

Contango Oil & Gas Co:Sees Q1 2014 production of between 110,000 -- 118,000 Mcfe per day.  Full Article

Contango Oil & Gas Co Issues Q2 2014 Production Guidance
Monday, 11 Nov 2013 10:04pm EST 

Contango Oil & Gas Co announced that for the second quarter of 2014, it expects average daily production volumes of 110,000-115,000 Mcfe per day.  Full Article

Contango Oil & Gas Co And Crimson Announce Closing Of Merger
Wednesday, 2 Oct 2013 09:01am EDT 

Contango Oil & Gas Company and Crimson Exploration Inc. jointly announced that they have formally closed their previously announced merger. The combined company will be a well-positioned Houston-based independent oil and gas company with a balanced offshore Gulf of Mexico and onshore Texas production profile. Both Contango and Crimson stockholders voted to approve the transaction at a special meeting of their respective stockholders. In accordance with the terms of the merger agreement, Crimson has become a wholly-owned direct subsidiary of Contango, and Contango will issue approximately 3.9 million shares of its common stock in exchange for all of Crimson's outstanding capital stock. Contango will continue to trade on the NYSE MKT under the ticker symbol MCF. Effective October 2, 2013, trading in Crimson common stock has been discontinued.  Full Article

Contango Oil & Gas Co And Crimson Exploration Inc Enter Into Merger Agreement
Tuesday, 30 Apr 2013 06:59am EDT 

Contango Oil & Gas Co and Crimson Exploration Inc. jointly announced that they have signed a merger agreement for an all-stock transaction pursuant to which Crimson would become a wholly owned subsidiary of Contango. Upon consummation of the merger, each share of Crimson stock will be converted into 0.08288 shares of Contango stock resulting in Crimson stockholders owning 20.3% of the post-merger Contango. Crimson stockholders will receive per-share consideration consisting of 0.08288 shares of Contango common stock for each Crimson share. Based on Contango's closing stock price on April 29, 2013, this transaction represents an implied price per share for Crimson of $3.19, a premium of approximately 8% to the recent closing price of Crimson common stock. Aggregate consideration in the transaction is approximately $390 million based on the assumed issuance of approximately 3.9 million shares of Contango common stock and the assumption by Contango of approximately $244 million of long-term debt of Crimson. The merger is expected to close in the third quarter of 2013. Mr. Joseph Romano will serve as Chairman of the Board of Directors and Chairman of the newly-created Investment Committee of the Board of Directors of the combined company. Mr. Allan D. Keel will become President, Chief Executive Officer and a member of the Investment Committee and Mr. E. Joseph Grady will become Senior Vice President and Chief Financial Officer of the combined Company.  Full Article

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