MCF Description — Contango Oil & Gas Co. (DE)
Contango Oil & Gas is a Houston-based, independent natural gas and oil company. Co.'s core business is to explore, develop, produce and acquire natural gas and oil properties primarily offshore in the Gulf of Mexico in water-depths of less than 300 feet. Contango Operators, Inc. (COI), Co.'s wholly-owned subsidiary, acts as operator on its offshore prospects. COI drills, and operates Co.'s wells in the Gulf of Mexico, as well as attends lease sales and acquires leasehold acreage. As of June 30 2012, Co.'s proved developed and undeveloped reserves were 250.37 billion cubic feet and 6.20 billion cubic feet of natural gas equivalent, respectively.