Exploration & Production | Deals - Acquisition, Mergers, Divestitures
Contango Talks Jonah, Kaybob Duvernay Investments
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Contango Oil & Gas Company has reported an investments update on the status of its investments in the Kaybob Duvernay and Jonah Field plays.
Kaybob DuvernayAs of June 30, 2013, the Company had invested approximately $14.9 million in Alta Resources Investments, LLC to lease over 67,000 acres in the core of the Kaybob Duvernay, a liquids rich shale play in Alberta, Canada. In July 2013, we invested an additional approximately $0.3 million in Alta. In August 2013, Alta signed a contract to sell its interest in the Kaybob Duvernay. Proceeds from the sale are expected to be approximately $30 million, net to Contango. The sale, subject to customary closing conditions, is expected to close in September 2013.
Jonah FieldAs of June 30, 2013, the Company had invested approximately $46.9 million…
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