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In its latest investor presentation, Contango Oil & Gas updated its Texas operations, as well as unveiled a new project area in the Southeast region of the state.
The Eaglebine is a large emerging oil play in the East Texas Basin (current drilling is most active in the area about 100 miles northwest of Houston). The play is focused on the thick, organically rich section located below the Austin Chalk formation and above the Buda formation that combines the lower laminated Eagle Ford shale and the Woodbine group (hence the name: the Eaglebine).