Contango Completes Acquisition of Silvertip Assets
[Click image to enlarge]
Contango Oil & Gas Company has completed its previously announced acquisition of assets located in the Big Horn, Permian, and Powder River Basins (Project Silvertip).
Contango acquired these assets for $58 million, subject to customary purchase price adjustments and an August 1, 2020 effective date.
“We are excited to announce the closing of the Silvertip assets. Since signing the PSA, we have only grown more excited by the producing reserves, employees, and upside the Silvertip assets provide. We continue to be on the lookout for additional acquisition opportunities like Silvertip in this target rich environment,” said Wilkie S. Colyer, Jr., Contango’s chief executive officer.
About Contango Oil & Gas Company
Contango Oil & Gas Company is a Houston, Texas based, independent oil and natural gas company whose business is to maximize production and cash flow from its offshore properties in the shallow waters of the Gulf of Mexico and onshore properties in Texas, Oklahoma, Louisiana, and Wyoming and, when determined appropriate, to use that cash flow to explore, develop, and increase production from its existing properties, to acquire additional PDP-heavy crude oil and natural gas properties or to pay down debt.
To stop by Contango’s website, CLICK HERE
Be in-the-know when you’re on-the-go!
FREE eNews delivery service to your email twice-weekly. With a focus on lead-driven news, our news service will help you develop new business contacts on an on-going basis.
CLICK HERE to register your email address.
Copyright © 2020 Mining Connection LLC. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
For licensing permission, .(JavaScript must be enabled to view this email address)
