One-Page Deal Sheet
Contango Acquires MidCon Assets from Bankrupt White Star for $133MM
Contango Oil & Gas Co. White Star Petroleum LLC
Announced Date
September 27,2019
Effective Date
July 01,2019
Close Date
November 04,2019
Transaction Type
Property
Enterprise Value (EV)($MM)
133
Asset/Basin:
{"Anadarko Basin",STACK,Cherokee}
Net Acres
Proved Reserves
Location
Calculated Metrics( EV/Category)
Region
Mid-Continent - Anadarko Basin
Country
United States
State
Oklahoma
Play
Production & Reserves Production
Production Mix
Reserves
Calculated Metrics( EV/Category)
$/ Flowing
$/ Acre
Transaction Details: Require Private Equity Subscription
Contango Oil & Gas Co. has agreed to acquire the assets of White Star Petroleum LLC and certain affiliates as a part of the White Star Chapter 11 bankruptcy, 363 sales process.
This is Contango's entrance into the MidCon Basin. The company currently has assets in the Delaware Basin, Texas Gulf Coast and Gulf of Mexico. See here for Asset map.
The purchase price is $132.5 million.
Asset Details: Production: 15 Mboe/d(63% oil) PDP Reserves: 20 Mmboe of PDP reserves as of the July 1 effective date Acreage: 315,000 net acres in Oklahoma split into the three operating districts noted belowMid-Continent - Anadarko Basin Deal Activity In Last 12 Months
| Announced Date | Buyer | Seller | Deal Value($mm) | Location | Category |
|---|---|---|---|---|---|
| Feb-17-2026 |
-  |
- |
Click here | Oklahoma | E&P |
| Sep-09-2025 |
- |
- |
Click here | Oklahoma | E&P |
| Aug-07-2025 |
- |
- |
Click here | Oklahoma | E&P |
| Mar-24-2025 |
- |
- |
Click here | Oklahoma | E&P |
| Sep-06-2022 |
- |
- |
Click here | E&P |
| Date | Deal Headline | Price | $/acre |
|---|---|---|---|
| Jan-27-2025 | Diversified Acquires Maverick for $1.275 Billion to Expand Liquids Exposure and Anadarko/Permian Footprint | - |
- |
| Sep-06-2022 | Sitio Royalties, Brigham to Merge in All-Stock Deal Worth $4.8 Billion | - |
- |
| Jul-28-2022 | Diversified Picks Up MidCon Assets from Conoco for $240 Million | - |
- |