Contango Oil & Gas

Background

Contango Oil & Gas Co. operates oil and gas fields with assets in Oklahoma, Texas, Wyoming, Louisiana, and the Gulf of Mexico. Chairman John Goff holds a 24.3% interest in the company with common shares listed on the American (MCF) exchange.

Contango was founded in 1999 by Ken Peak and Brad Juneau and acquired the assets of bankrupt White Star Petroleum in 2019. In February 2021, Contango acquired the Project Silvertip assets in the Big Horn, Permian, and Powder River Basins for $58 million. The company acquired Mid-Con Energy Partners in January 2021 in an all-stock deal.

In June 2021, Contango agreed to combine with KKR-backed Independence Energy in an all-stock transaction with the company taking a new name, a NYSE listing, and KKR retaining control over the board of directors via non-economic, preferred stock. In July 2021, the company acquired ConocoPhillips' Wind River Basin assets for $67 million in cash.

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