The company's shares closed at $3.93. Contango is a Houston-based, independent natural gas and oil company. This term refers to a market situation when the future price of a commodity, in this case WTI crude, is far higher than the current price. Usually, consumed commodities like oil, wheat or copper are in 'backwardation', with today more costly than the future.] Our goal is to maintain a team committed to those values and standards in promoting Contango as an industry leader built on win/win relationships. Company Participants. Contango Oil & Gas Co. appointed two new directors, Karen Simon and Janet Pasque, to its board of directors on April 29, who the Fort Worth, Texas-based independent says will foster its drive to be a market leader in ESG initiatives. The company’s stock price has collected 2.02% of gains in the last five trading sessions. www.continentalstock.com. Private equity KKR & Co's Independence Energy LLC and Contango Oil & Gas Co said on Tuesday they will merge in an all-stock deal that would create an oil and gas company with an initial equity market capitalization of about $4.8 billion. 05:14 PM ET. Contango Oil & Gas Co. is an oil and natural gas company. In TankTerminals.com database there are… 712 tank terminals that store crude 3,911 tank terminals that store petroleum products A total of […] Contango and Mid-Con Energy announced on 10/26/2020 that they entered into an all-stock merger. Financial Analysts, stockbrokers, interested investors and financial media requesting more about Contango Oil & Gas Company should contact Investor Relations at (713) 236-7400. (Figure 8). All applications for employment with Contango Oil & Gas Company must be submitted via the company's Careers page. The Contango Oil & Gas Co. stock price prediction is currently bullish. The firm engages in the exploration, development, production and acquisition of crude oil … Goff intends for Contango to keep growing. A contango market simply means that the futures contracts are trading at a premium to the spot price. The principal executive office of the Issuer is located at 111 E. 5th Street, Suite 300, Fort Worth, Texas. In comparing Contango Oil & Gas Company (MCF)’s stock with other industry players reveals that stock’s current price change of -2.36% and that of +50.66% over the past 12 months is in competing position with that of Eog Resources (EOG) which saw its stock price fell by -3.87% in the last trading and went through an increase of 55.16% in past 12-month trading. Subject Company: Contango Oil … The terms contango and backwardation both refer to current conditions in a futures market for a given commodity. Contango Oil & Gas Company, an independent energy company, acquires, explores, develops, exploits, and produces crude oil and natural gas properties offshore in the shallow waters of the Gulf of Mexico, and in the onshore Texas Gulf Coast and Rocky Mountain regions in the United States. Contango Oil & Gas (MCF) – The energy producer agreed to combine with KKR's (KKR) Independence Energy business in an all-stock deal. The firm engages in the exploration, development, production and acquisition of crude oil and natural gas properties. 1 State Street, 30th Floor. Brief overview of Contango Oil & Gas Company. Contango Oil & Gas has a beta of 2.35, meaning that its stock price is 135% more volatile than the S&P 500. You will probably have seen in the news yesterday morning (21 st April 2020), that U.S. oil futures prices were negative. On a per-share basis, the Houston-based company said it had a loss of 2 cents. Seeking Alpha - Contango Oil & Gas (MCF) management has long been shopping for bargains. Major shareholders can include individual investors, mutual funds, hedge funds, or institutions. You will probably have seen in the news yesterday morning (21 st April 2020), that U.S. oil futures prices were negative. We operate in a manner that prioritizes the safety of our employees and the environment. In the case of contango, it would require a trader to take physical possession of the oil bought in the spot market today to deliver against the short futures contract set to expire in a few months. Today Goff announced his biggest oil deal yet—a $5.7 billion all-stock merger between Contango and Independence Energy, owned by private equity giant … The merger will give birth to an oil and gas company that has a market value of $5.7 billion. 05:14 PM ET. Backwardation and Contango Markets. The deal comes at a time when a recovery in crude prices has sparked a wave of consolidation in the energy industry. Volatility & Risk. The institutional investor bought 1.3 million shares of the stock in a transaction took place on 3/31/2021. HOUSTON (AP) _ Contango Oil & Gas Co. (MCF) on Thursday reported a loss of $4.3 million in its first quarter. The Company's business is to explore, develop, exploit, produce and acquire crude oil and natural gas properties in the shallow waters of the Gulf of Mexico ("GOM") and in the onshore Texas Gulf Coast and Rocky Mountain regions of the United States. Oil ETFs, Contango and negative oil prices. A futures contract is a legal agreement to buy or sell a physical commodity at some point in the future. The company has an estimated daily production of 3,480 BBLs oil and 3,480 MCF of gas, coming from 413 actively producing wells in the state. The Contango Oil & Gas Co. is trading on NYSE American with the sign MCF. Contango Oil & Gas Co is an independent oil and natural gas company. The contango on December 2015/December 2016 NYMEX crude oil spread stood at over 10% on September 8, 2015, still well above interest rates for the period. Conversely, when a market is in backwardation, the forward price of the futures contract is lower than the spot price. Major shareholders can include individual investors, mutual funds, hedge funds, or institutions. The contango in many commodity markets in September 2015 pointed to a combination of ample supplies and lower demand. Today was the last day of trading for April West Texas Intermediate crude oil … Contango Oil & Gas Company () Stock Market info Recommendations: Buy or sell Contango Oil & Gas stock? The company has not been afraid to use stock in the deal or sell stock after … Earnings, adjusted for non-recurring costs, were 5 cents per share. “The historic contango is a reflection of physical barrels that can’t easily find buyers and are being sold at distressed prices,” Michael Lynch, president of Strategic Energy & … HOUSTON (AP) _ Contango Oil & Gas Co. (MCF) on Thursday reported a loss of $4.3 million in its first quarter. Contango Oil & Gas (NYSEMKT:MCF) did even better than that, with an 18% jump. The shape of the futures curve is important to commodity hedgers and speculators. Monday, September 30, 2019. Contango Snags Rockies, Permian ‘Low-Decline’ Oil, NGL Assets. The stock has traded on Tuesday up as much as 23% at a 52-week high $6.94. Contango Oil & Gas stock surges after deal to combine with KKR's Independence Energy MarketWatch. Comparatively, Devon Energy has a beta of 3.34, meaning that its stock price is 234% more volatile than the S&P 500. The new company is expected to produce 108,000 to 114,000 barrels of oil equivalent per day in 2022, with adjusted core earnings between $750 million and $800 million. Contango Oil & Gas Co. is an oil and natural gas company. Contango and oil prices. New York, NY 10004-1561. Contango: Lock in substantial gains by quickly findingthe right storage assets Multiply the chances of finding storage (and quickly) by getting access to a database with both tank storage capacities and manager-level contact details. First Quarter 2021 Highlights and Recent Developments Production sales of 1,773 MBoe for the first quarter of 2021, or 19.7 MBoe per day, an increase from … Contango Oil & Gas Co has decided to merge with KKR & Co’s Independence Energy LLC with all their stocks. Contango Oil & Gas Co (Texas) (Contango Oil & Gas Co (Texas) is lower by Wednesday morning, with the stock declining -5.68% in pre-market trading to 3.82.MCF's short-term technical score of 43 indicates that the stock has traded less bullishly over the last month than 57% of stocks on the market. Contango Oil & Gas Company is an independent oil and natural gas company whose underlying business has been to maximize production and cash flow from its offshore properties in the shallow waters of the Gulf of Mexico and onshore properties in Texas, Oklahoma, Wyoming and Louisiana, and to use that cash flow to explore, develop, exploit, increase production from and acquire crude oil … Oil ETFs, Contango and negative oil prices. Based on Contango's closing stock price of $5.62 on Monday, the combined company will have an initial equity market capitalization of about $4.8 billion. 05:59 AM ET. The oil and gas company posted revenue of $60 million in the period. Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. However, these two curves are often confused for one another. Article Stock Quotes (1) FREE Breaking News Alerts from StreetInsider.com! E-mail Address. About Contango. Upright in the red during last session for losing -0.85%, in the last five days MCF remained trading in the green while hitting it’s week-highest on Friday, 06/11/21 when the stock touched $4.66 … The official website for Contango Oil & Gas is www.contango.com. The firm engages in the exploration, development, production and acquisition of crude oil and natural gas properties. White Star Petroleum’s assets and operations are in new hands. Form 3 CONTANGO OIL & GAS CO For: Jun 07 Filed by: Independence Energy MM LLC. For example, if the price of a crude oil contract today is $100 per barrel, but the price for delivery in six months is $110 per barrel, that market would be in contango. Contango Oil & Gas Co is an independent oil and natural gas company. FORT WORTH, Texas, May 13, 2021 (GLOBE NEWSWIRE) -- Contango Oil & Gas Company (NYSE American: MCF) (“Contango” or the “Company”) announced today its financial results for the first quarter ended March 31, 2021. The Company explores, develops, exploits, produces, and acquires crude oil and natural gas properties. Welcome to the Owner Relations Online System. Contango Oil & Gas Company, an independent oil and natural gas company, acquires, explores, develops, exploits, and produces crude oil and natural gas properties in the shallow waters of the Gulf of Mexico and onshore properties in Texas, Oklahoma, Louisiana, and Wyoming in the United States. Contango Oil & Gas has higher earnings, but lower revenue than Devon Energy. And trouncing them all was Torchlight Energy Resources (NASDAQ:TRCH), up an … The company report on November 30, 2020 that Contango Announces Private Equity Capital Raise.. Get the hottest stocks to trade every day before the market opens 100% free. Wilkie S. Colyer, Jr. The new company is expected to produce 108,000 to 114,000 barrels of oil equivalent per day in 2022, with adjusted core earnings between $750 million and $800 million. Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. Contango Oil & Gas Company (NYSE:MCF) Q1 2021 Earnings Conference Call May 13, 2021 9:00 AM ET. Filed by IE PubCo Inc. Pursuant to Rule 425 of the Securities Act of 1933. and deemed filed pursuant to Rule 14a-12. What is contango? Contango Oil & Gas Co. is an oil and natural gas company. Contango Oil & Gas Company is an independent oil and natural gas company. Contact Us. Based on Contango’s closing stock price of $5.62 on Monday, the combined company will have an initial equity market capitalization of about $4.8 billion. Farley Dakan - President . [Ed. Contango Oil & Gas Company is a Fort Worth, Texas based, independent oil and natural gas company whose business is to maximize production and … of the Securities Exchange Act of 1934. Source: Contango Oil & Gas Merger Presentation June 8, 2021. Oil flips into contango, indicating months of surplus. The EIA estimates that contango trade will be unviable until contango conditions reach $10–$12 per barrel. The market capitalization, commonly called market cap, is the total market value of a publicly traded company's … Houston-based Contango Oil & Gas Co. announced Friday it will pay $132.5 million to acquire both those assets and the company’s affiliates as part of the Oklahoma company’s bankruptcy case. In TankTerminals.com database there are… 712 tank terminals that store crude 3,911 tank terminals that store petroleum products A total of […] Filed by IE PubCo Inc. Pursuant to Rule 425 of the Securities Act of 1933. and deemed filed pursuant to Rule 14a-12. During the day, the stock rose to $4.83 and sunk to … Contango Oil & Gas Company [AMEX: MCF] gained 13.73% or 0.49 points to close at $4.06 with a heavy trading volume of 4323252 shares. The market capitalization, commonly called market cap, is the total market value of a publicly traded company's … Contango: Lock in substantial gains by quickly findingthe right storage assets Multiply the chances of finding storage (and quickly) by getting access to a database with both tank storage capacities and manager-level contact details. 212-509-4000. cstmail@continentalstock.com. These managements realize that the reserve report is a function of the costs reported by the current management. The combined company may be able to generate $850 million in unhedged EBITDA at current 2022 strip prices. As of August 3rd, 2015, the August 2015 settlement price was $45.08, whereas the August 2016 contract was at $50.88, with the 12-month contango at $5.80. Contango Oil & Gas Co. price is up -1.56% in the past 24 hours. Wilkie Colyer - CEO. Christie Schultz Director, Reservoir Engineering at Contango Oil & Gas Houston, Texas, United States 500+ connections What Contango Means For Oil ETFs. Contango Oil & Gas stock surges after deal to combine with KKR's Independence Energy MarketWatch. Contango is a situation where the futures price of a commodity is higher than the expected spot price of the contract at maturity. Contango Oil & Gas Company (US:MCF) institutional ownership structure shows current positions in the company by institutions and funds, as well as latest changes in position size. Item 2. Earnings, adjusted for non-recurring costs, were 5 cents per share. The shares had more than tripled in the past six months as oil … A Texas Based Oil and Natural Gas Company. Contango Oil & Gas Company (MCF) volume hits 1.87 million: A New Opening for Investors As on June 11, 2021, Contango Oil & Gas Company (AMEX: MCF) got off with the flyer as it spiked 1.57% to $4.53. Contango Oil & Gas Co is an independent oil and natural gas company. Contango In Oil Markets Explained The supply glut in the oil market has led to a contango price structure, in which oil futures are priced higher than … Houston-based exploration and production company Contango Oil & Gas Co. (NYSE American: MCF) has completed its all-stock … Both care about whether commodity futures markets are contango markets or normal backwardation markets. This brought about a further crumbling of prices for crude oil, thus causing a so-called super contango in the oil market.
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