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Contango Delineates Buda, Austin Chalk
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Contango Oil & Gas Company reported its financial results for the three months ended September 30, 2015 and provided an operational update.
Key Points: Our drilling activity during the quarter ended September 30, 2015 was designed to keep our debt level flat and focus on delineating our Wyoming and Fayette County plays. Muddy Sandstone Wyoming: Approximately 200 to 300 Muddy horizontal well locations may be prospective on the acreage based on a drilling density of three to four wells per 640 acres. As of September 30, 2015, we had drilled and completed five gross (2.5 net) wells in the Navarro, Buda and Austin Chalk formations, and were producing from two of these wells; the other three wells were not commercial successes. Third Quarter 2015 Summary Production of 8.4 Bcfe for the…- ✓ Full news archive — U.S., Canada & international coverage
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