Exploration & Production | Deals - Acquisition, Mergers, Divestitures
Contango Enters Tuscaloosa Marine Shale, Focus on Duvernay
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Contango Oil & Gas announced today that the Company’s wholly-owned subsidiary, Contango Operators, Inc., was the apparent high bidder on six lease blocks at the Central Gulf of Mexico Lease Sale 216/222 held on June 20, 2012.
In addition to our planned activities in the Gulf of Mexico, we have invested approximately $5 million to lease approximately 14,000 acres in the Tuscaloosa Marine Shale (“TMS”), a shale play in Louisiana and Mississippi, with an option to purchase approximately 10,000 additional acres. The TMS is an oil focused play and we intend to watch the play develop before we commit to drilling any exploratory wells.
Our current production is approximately 83 million cubic feet equivalent per day (“MMcfed”). In addition, we have approximately $11.6 million invested with Alta…
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