Announced
Financials
Sources
Tags
oil and gas exploration
Friendly
United States
Integrated Oil and Gas
Private
Acquisition
Single Bidder
Majority
Pending
Synopsis
Contango Oil & Gas Company, an independent oil and gas company based in Houston, agreed to acquire assets of White Star Petroleum, an independent oil and natural gas exploration and production company, for $132m. "This opportunity became actionable as a result of our recent successful recapitalization of the company, and it is exactly the type of acquisition we said we’d be looking for when we last spoke to the investment community. We expect White Star to add approximately $60m in asset level cash flow over the next twelve months," Wilkie S. Colyer, Contango President and Chief Executive Officer.
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