Exploration & Production | Well Lateral Length | Drilling / Well Results | Quarterly / Earnings Reports | Production | Fourth Quarter (4Q) Update | Reserves | Key Wells
Contango Talks 4Q; Latest Woodbine, Mowry Well Results
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Contango Oil & Gas Company announced its fourth quarter production results, year-end reserves and provided an operational update on recent drilling activity.
Allan Keel, President and CEO of Contango, commented: “We believe that the appropriate strategy for creating shareholder value in this low commodity price, high cost environment is to reduce drilling activity, utilize excess cash flow to improve our already strong financial profile, and stay positioned to potentially take advantage of growth opportunities that might surface in the near future as capital-stressed companies shed assets, search for JV partners or pursue long term strategic alternatives. Our financial flexibility, and inventory of drilling locations, also position us to expand our 2015 capex program if commodity prices…
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