HOUSTON, Nov. 16, 2018 (GLOBE NEWSWIRE) — Contango Oil & Gas Company (NYSE American: MCF) (“Contango” or the “Company”) today announced that it has priced a public offering of 7,500,000 shares of its common stock for total gross proceeds (before the underwriting discount and estimated expenses) of $30 million. The underwriters have an option for 30 days to purchase up to an additional 1,125,000 shares of common stock from the Company. Proceeds from the offering are expected to be used to reduce borrowings under the Company’s revolving credit facility and for general corporate purposes, including funding future potential acquisitions.
Cowen and Intrepid Partners are acting as joint book-running managers for the offering. The offering is expected to close on November 20, 2018, subject to customary closing conditions.
The offering will be made only by means of a prospectus supplement and the accompanying base prospectus, copies of which may be obtained on the Securities and Exchange Commission’s website at www.sec.gov. Alternatively, the underwriters will arrange to send you the prospectus supplement and related base prospectus if you request them by contacting Cowen and Company, LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY, 11717, Attn: Prospectus Department, or by email at PostSaleManualRequests@broadridge.com.
This press release is neither an offer to sell nor a solicitation of an offer to buy any securities, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The securities will be offered and sold pursuant to an effective registration statement previously filed with the Securities and Exchange Commission.
Contango Oil & Gas Company is a Houston, Texas based, independent energy company whose business is to maximize production from its shallow offshore Gulf of Mexico properties and onshore properties in Texas and Wyoming, and to use that cash flow to explore, develop, exploit, produce and acquire crude oil and natural gas properties in the Texas and Rocky Mountain regions of the United States. Information on Contango’s website is not part of this press release.