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Contango Hits 8.0 Bcfe in 4Q; Talks Key Well Completions
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Contango Oil & Gas Company reported its financial results for the fourth quarter and year ended December 31, 2015.
Fourth Quarter Highlights: Production of 8.0 Bcfe for the quarter, or 86.7 Mmcfed; within guidance Adjusted EBITDAX, on a recurring basis, of $11.1 million for the quarter Completion of the Popham #1H well in our North Cheyenne prospect, in Weston County, Wyoming, testing at a peak 24-hour maximum rate of 970 BOEPD Year-end debt of $115.4 million, substantially flat with the third quarter outstanding balance Hedged approximately 60% of forecasted PDP natural gas production for 2016 with a floor price of $2.53/mmbtuAllan D. Keel, the Company's President and Chief Executive Officer, said, "The current commodity price environment and lower production resulting from a reduced…
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