One-Page Deal Sheet
Contango Inks Deal for Producing Acreage; Ark-La-Tex, MidCon
Contango Oil & Gas Co. Will Energy Corp.
Announced Date
September 13,2019
Close Date
October 25,2019
Transaction Type
Property
Enterprise Value (EV)($MM)
23
Asset/Basin:
{"Ark-La-Tex (North Louisiana)","Western Anadarko (Texas Panhandle)"}
Net Acres
% Oil:
Location
Calculated Metrics( EV/Category)
Region
Ark-La-Tex - North Louisiana,Mid-Continent - North Texas
Country
United States
State
Louisiana
Play
Production Production
Production Mix
Calculated Metrics( EV/Category)
$/ Flowing
$/ Acre
Transaction Details: Subscribe to see
Contango Oil & Gas has signed a deal with Will Energy Corp. to acquire acreage in North Louisiana as well as the Texas Panhandle for $23 million in cash and stock.
Assets:- Total Acreage: 159,872 net acres
North Louisiana: 12,560 net acres Texas Panhandle: 147,312 net acres- Production: 1,400 BOEPD (95% held by production) (34% liquids)
Closing of the transaction is subject to certain customary conditions and is expected to occur in the fourth quarter of 2019.
The Will Energy Properties are mature fields with existing cash flow, low decline and significant development potential from…
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