One-Page Deal Sheet
Contango Picks Up 41% Interest in Delaware Basin Position; 12,100 Acres
Contango Oil & Gas Co. Not Disclosed
Announced Date
July 21,2016
Close Date
July 26,2016
Transaction Type
Working Interest
Enterprise Value (EV)($MM)
25
Asset/Basin:
{"Permian - Delaware Basin"}
TargetZones:
{"Wolfcamp A","Wolfc
Net Acres
Location
Calculated Metrics( EV/Category)
Region
Permian
Country
United States
State
Texas
County
Pecos
Play
Calculated Metrics( EV/Category)
$/ Acre
$/Location
Transaction Details: Subscribe to see
Closing Announcement - July 28, 2016
Contango Oil & Gas Company announced that the previously announced purchase of one-half of the seller’s interest in approximately 12,100 gross undeveloped acres (~5,000 net acres to MCF) in the Southern Delaware Basin of Texas closed on July 26, 2016. The Company paid $10 million in cash at closing to fund the initial purchase price, and will pay an additional $10 million in carried well costs over the next 14 months and $5 million in additional contingent payments upon success. Additionally, the Company closed on its recently announced equity offering on…
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