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 Southern Delaware Basin.
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.