Exploration & Production | Quarterly / Earnings Reports | Fourth Quarter (4Q) Update
Crimson Merger Boosts Contango's Results; Sees Good Start to 2014
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Contango Oil & Gas Company reported its financial results for the three and six months ended December 31, 2013.
Fourth Quarter 2013 Highlights Consummation of the merger with Crimson Exploration Inc. on October 1, 2013 Production of 10.1 Bcfe for the quarter Quarterly Adjusted EBITDAX of $44.4 million Net income of $6.4 million, or $0.34 per basic and fully diluted share Increased proved reserve PV-10 value to $987 million, a 66% increase as compared to December 31, 2012Allan D. Keel, President and Chief Executive Officer, commented, "We are pleased with our progress during the fourth quarter, thanks in large part to our merger with Crimson. This merger is an exciting transformational event for the shareholders of both entities and positions the combined company as a financially strong…
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