Contango to acquire Wind River Basin from ConocoPhillips.

Contango Oil & Gas Company, an independent oil and gas company, agreed to acquire Wind River Basin of Wyoming from ConocoPhillips, a provider of oil exploration and production services. Financial terms were not disclosed. "The acquisition of these Wind River Basin assets is yet another step in our consolidation strategy and an excellent fit to our asset profile. This is a huge, conventional gas field with low decline, purchased at an attractive valuation. We are intimately familiar with the area via assets acquired in the MCEP and Silvertip transactions, and we have the right team to maximize the value of these mature, low decline, and conventional properties. Our previously announced merger with Independence was designed to accelerate our acquisition pace rather than slow it down, and this transaction is a perfect example of that. We look forward to closing this transaction and continuing ConocoPhillips’ excellent stewardship of these assets," Wilkie Colyer, Contango CEO.