Deals - Acquisition, Mergers, Divestitures
Contango Finalizes Acquisition of Mid-Con Energy Partners
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Contango Oil & Gas Co. announced the successful completion of its acquisition of Mid-Con Energy Partners.
In accordance with the terms of the merger agreement, Mid-Con unitholders will receive 1.75 shares of Contango common stock for each unit of Mid-Con common units owned.
The deal is valued at $154.8 million.
Wilkie S. Colyer, Jr., Contango's Chief Executive Officer, commented, "After many months of significant effort from both companies, this merger further highlights Contango's ability to execute on its strategy to acquire producing properties and implement cost-cutting efforts that maximize shareholder returns. As a result of the merger, our largest shareholder and Chairman, John C. Goff, has increased his ownership to just under 25% of the combined business. The Board and management team remain committed to growing shareholder value as we look for new opportunities in the current dislocated market environment. We welcome Mid-Con's investors, employees, and other stakeholders to the Contango platform."
Mid-Con's Assets
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