US Producers Independence and Contango To Combine in $5.7 Billion-Deal
–Journal of Petroleum Technology
Independence Energy and Contango Oil & Gas announced today an all-stock merger that will create a company with an estimated enterprise value of almost $5.7 billion. Independence shareholders will own 76% of the combined company which is to be headquartered in Houston. Contango shareholders will own the remainder. The two companies combined production for the first quarter was approximately 111,000 BOE/D and their combined decline rate for the year is estimated to be 18%. On a pro forma basis, the 2020 booked reserves show a commodity breakdown of 47% oil, 15% natural gas liquids, and 38% natural gas.
Journal of Petroleum Technology
June, 2021
- Country:
- North America > United States > Texas (0.58)
- Genre:
- Press Release (0.60)
- Oilfield Places:
- North America > United States
- New Mexico > Permian Basin
- Morrow Formation (0.99)
- Devonian Formation (0.99)
- Avalon Formation (0.99)
- Bone Spring Formation (0.99)
- Clear Fork Formation (0.99)
- Canyon Formation (0.99)
- Yeso Formation (0.99)
- San Andres Formation (0.99)
- Spraberry Formation (0.99)
- Wolfcamp Formation (0.99)
- Ellenberger Formation (0.99)
- Yates Formation (0.99)
- Texas
- Maverick Basin > Eagle Ford Shale Formation (0.99)
- Permian Basin
- Morrow Formation (0.99)
- Devonian Formation (0.99)
- Avalon Formation (0.99)
- Bone Spring Formation (0.99)
- Clear Fork Formation (0.99)
- Canyon Formation (0.99)
- Yeso Formation (0.99)
- San Andres Formation (0.99)
- Spraberry Formation (0.99)
- Wolfcamp Formation (0.99)
- Ellenberger Formation (0.99)
- Yates Formation (0.99)
- Sabinas - Rio Grande Basin > Eagle Ford Shale Formation (0.99)
- West Gulf Coast Tertiary Basin > Eagle Ford Shale Formation (0.99)
- New Mexico > Permian Basin
- North America > United States
- SPE Disciplines: