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M&A Deal Summary

Contango Oil & Gas Acquires Mid-Con Energy

On January 21, 2021, Contango Oil & Gas acquired oil/gas exploration company Mid-Con Energy

Acquisition Highlights
  • This is Contango Oil & Gas’ 2nd transaction in the Oil/Gas Exploration sector.
  • This is Contango Oil & Gas’ 2nd transaction in the United States.
  • This is Contango Oil & Gas’ 1st transaction in Oklahoma.

M&A Deal Summary
Date 2021-01-21
Target Mid-Con Energy
Sector Oil/Gas Exploration
Buyer(s) Contango Oil & Gas
Deal Type Merger

Target

Mid-Con Energy

Tulsa, Oklahoma, United States
Mid-Con Energy was formed to own, acquire, exploit and develop producing oil and natural gas properties in North America, with a focus on Enhanced Oil Recovery ("EOR"). Its management team has significant industry experience, especially with waterflood projects and, as a result, our operations focus primarily on enhancing the development of producing oil properties through waterflooding. Mid-Con Energy was formed in 2011 and is based in Tulsa, Oklahoma.

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Buyer(S) 1

Buyer

Contango Oil & Gas

Brenham, Texas, United States
Category Company
Founded 1986
Sector Oil/Gas Exploration
Employees205
Revenue 113M USD (2020)
DESCRIPTION

Contango Oil & Gas is an oil and gas company focused on the exploration, development, production and acquisition of natural gas and oil properties both onshore and offshore in the shallow waters of the Gulf of Mexico. Contango Oil & Gas was founded in 1986 and is based in Brenham, Texas.

DEAL STATS #
Overall 2 of 3
Sector: Oil/Gas Exploration M&A 2 of 3
Type: Merger M&A Deals 2 of 2
State: Oklahoma M&A 1 of 1
Country: United States M&A 2 of 3
Year: 2021 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-04-30 Crimson Exploration

Houston, Texas, United States

Crimson Exploration Inc. is an onshore crude oil and natural gas exploration company.

Buy $390M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-08 ConocoPhillips - Wind River Basin Assets

Houston, Texas, United States

Wind River Basin Assets consists of PDP-heavy assets with a net production run rate of approximately 78 Mmcfe/d (100% gas), as of the effective date of the acquisition, and an expected 5% annual decline rate over the next 5 years.

Buy $67M
Mergr

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