Contango Oil and Gas (MCF) is an independent oil and gas exploration company based in Texas that has the core belief that the only competitive advantage in the commodity-based natural gas and oil business is to be among the lowest-cost producers. Their second belief is that true value creation is predicated on the drilling of successful exploratory wells.
The company had been known as a Gulf of Mexico exploration and development company but has since acquired onshore assets through its recent merger with Crimson Exploration. This was done to diversify away from drilling in Gulf waters which has become increasingly tough to prospect due to heightened regulations following the Horizon Deepwater disaster three years ago.
Given that updated...
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