Contango Oil & Gas Company to acquire White Star Petroleum for $132m.

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.