One-Page Deal Sheet
Contango Unloads Operated Eagle Ford Assets in $21MM Deal
Protege Energy III LLC Contango Oil & Gas Co.
Announced Date
April 02,2018
Close Date
March 28,2018
Transaction Type
Property
Enterprise Value (EV)($MM)
21
Asset/Basin:
{"Eagle Ford"}
TargetZones:
{"Eagle Ford Shale"}
Net Acres
% Oil:
Location
Calculated Metrics( EV/Category)
Region
Gulf Coast - South Texas
Country
United States
State
Texas
County
Karnes
Play
Production Production
Production Mix
Calculated Metrics( EV/Category)
$/ Flowing
$/ Acre
Transaction Details: Subscribe to see
Contango has sold its operated Eagle Ford shale assets located in Karnes County, Texas the core of the Eagle Ford Shale.
Asset Details: Located in Karnes County, TX 123 BOEPD (95% oil) 1,500 gross (1,050 net) acresThe cash proceeds from this transaction will be used to pay down outstanding borrowings under our revolving credit facility and for general corporate purposes, including development of our Southern Delaware Basin position.
Allan D. Keel, the Company's President and Chief Executive Officer, said "This asset accounted for a little over 1% of our current production and only 2%…
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