Texas - based oil and gas company Contango has sold its assets in the Eagle Ford area to an undisclosed buyer for $ 21 million . The transaction was completed on 28 March and comprised 1,500 gross acres in Karnes County , producing an estimated 123 barrels of oil per day . This represented just over 1 % of Contango 's current revenues , and its subsidiary Allan D. Keel said the company is now focusing on its Southern Delaware assets , along with its offshore properties in the Gulf of commerce .
Texas-based oil and gas company Contango has sold its assets in the Eagle Ford area to an undisclosed buyer for $21m. The sale was finalised on 28 March and comprised 1,500 gross acres in Karnes County, producing an estimated 123 barrels of oil per day. This represented just over 1% of Contango's current production, and its CEO Allan D. Keel said the company is now focusing on its Southern Delaware assets, along with its offshore properties in the Gulf of Mexico.