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Contango Edits Woodbine, Eagle Ford Design; More Proppant
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Contango Oil & Gas Company reported its financial results for the three months ended March 31, 2015 and provided an operational update.
First Quarter 2015 Highlights: Production of 8.7 Bcfe for the quarter Net loss of $18.6 million and Adjusted EBITDAX of $14.0 million for the quarter Commenced production from initial multi-well pad drilled on 500 foot spacing in our Chalktown area Commenced production from third well in our Elm Hill Project, with two additional wells expected to begin production in the second quarter Commenced initial flowback on first Mowry Shale test in Natrona County, Wyoming Borrowing base redetermined at $225 million, through November 1, 2015Allan D. Keel, the Company’s President and Chief Executive Officer, said, "Despite a dramatically reduced 2015 capital…
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