United States

Profile: Contango Oil & Gas Co (MCF.A)

MCF.A on American Stock Exchange

22 Nov 2017
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Contango Oil & Gas Company (Contango), incorporated on November 8, 2000, is an independent oil and natural gas company. The Company is engaged in the exploration, development, exploitation and acquisition of crude oil and natural gas properties in the onshore Texas Gulf Coast, offshore properties in the shallow waters of the Gulf of Mexico (GOM) and Rocky Mountain regions of the United States. The Company's properties are located in Gulf of Mexico; Madison and Grimes counties, Texas; Zavala and Dimmit counties, Texas; Weston County, Wyoming; Texas Gulf Coast, and Sublette County, Wyoming. In addition, the Company has operated properties producing from various conventional formations in various counties along the Texas Gulf Coast; operated producing properties in the Denver Julesburg Basin (DJ Basin) in Weld and Adams counties in Colorado, and operated producing properties in the Haynesville Shale, Mid Bossier and James Lime formations in East Texas. The Company's onshore investments include Kaybob Duvernay at Alberta, Canada, and Jonah Field at Sublette County, Wyoming.

Offshore Gulf of Mexico

The Company's offshore assets consist of approximately seven federal and approximately six State of Louisiana company-operated wells in the shallow waters of the GOM. Its approximately 13 wells are located in over four fields. It operates approximately five federal wells located at Eugene Island 10 (Dutch), and approximately five state wells located in adjacent Louisiana state waters (Mary Rose). All Dutch and Mary Rose wells flow to a Company-owned and operated production platform at Eugene Island 11. The Company owns and operates one well with a production facility at Vermilion 170. Its platform services natural gas and condensate production, which flow through the Sea Robin Pipeline to a third-party owned and operated onshore processing plant. Its Ship Shoal 263 and South Timbalier 17 fields are included in Other Offshore properties. It holds approximately six untested exploratory prospects on around 15 offshore lease blocks.

Onshore Properties

The Company's onshore properties include Southeast Texas (Woodbine); Weston County, Wyoming (N. Cheyenne Project); South Texas (Buda/Eagle Ford); South Texas (Elm Hill Project), Natrona County, Wyoming (FRAMS Project); and Other projects, including East Texas, Colorado and Tuscaloosa Marine Shale (TMS). As of December 31, 2015, the Company's Southeast Texas region included approximately 36,200 gross (21,800 net) acres, proven reserves of approximately 32.4 billion cubic feet equivalent (Bcfe), and approximately 86 gross (50.7 net) producing wells. The Company has approximately 15,400 net acres in Madison and Grimes counties, with a multi-year inventory of potential drilling locations, including the Woodbine, Eagle Ford Shale and Georgetown/Buda formations. As of December 31, 2015, its South Texas region included approximately 166,600 gross (81,900 net) acres, proven reserves of approximately 33.4 Bcfe, and over 272 gross (145.6 net) producing wells. As of December 31, 2015, it held approximately 57,000 gross acres (27,000 net) in Fayette, Gonzales, Caldwell and Bastrop counties, Texas.

As of December 31, 2015, The Company's East Texas region included approximately 7,500 gross (4,500 net) acres primarily in San Augustine County, with proven reserves of approximately 0.7 Bcfe comprising over 84% gas, and approximately 10 gross (5.1 net) producing wells. The Company holds approximately 16,100 gross (11,200 net) acres in the DJ Basin in Colorado (in Adams and Weld counties). As of December 31, 2015, it held approximately 15,400 gross (4,800 net) undeveloped acres under lease in TMS and approximately 9,400 gross (6,400 net) acres in Southwest Louisiana, Mississippi, and North Texas.

Company Address

Contango Oil & Gas Co

717 Texas St Ste 2900
HOUSTON   TX   77002-2836
P: +1713.2367400
F: +1713.2364424

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