One-Page Deal Sheet
XTO Energy Acquires 20,000 Acres in Fayetteville From Contango
XTO Energy Inc. Contango Oil & Gas Co.
Announced Date
January 07,2008
Effective Date
December 01,2007
Close Date
January 30,2008
Transaction Type
Property
Enterprise Value (EV)($MM)
236
Location
Calculated Metrics( EV/Category)
Region
Mid-Continent
Country
United States
State
Arkansas
Play
Calculated Metrics( EV/Category)
$/ Acre
Transaction Details: Subscribe to see
Contango Oil & Gas Company has entered into a definitive agreement with XTO Energy Inc. to sell the remaining Eastern core of its Arkansas Fayetteville Shale properties (approximately 11,200 acres, net to Contango) for approximately $128 million, net to Contango's 56% interest. Together, in this transaction, Contango and its partners have agreed to sell approximately 20,000 acres for approximately $236 million. The sale is expected to close in January 2008 and is subject to customary closing conditions and adjustments.
The sale is part of the Company's previously announced review of strategic…
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