Contango Oil & Gas (MCF) agrees to acquire Crimson Exploration (CXPO) in an all-shares deal...

|About: Contango Oil and Gas Company (MCF)|By:, SA News Editor

Contango Oil & Gas (MCF) agrees to acquire Crimson Exploration (CXPO) in an all-shares deal touted as a merger and worth ~$390M. MCF says the deal will enhance its portfolio of Gulf of Mexico offshore assets as well as liquids-rich plays onshore in Texas, complemented by some of Crimson's unconventional plays. CXPO +15.5% premarket.