Contango Oil & Gas (MCF) Misses Q3 EPS Views

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Contango Announces Third Quarter 2015 Financial Results and Provides Operations Update

November 3, 2015 6:01 PM EST

HOUSTON--(BUSINESS WIRE)-- Contango Oil & Gas Company (NYSE MKT: MCF) (Contango) announced today its financial results for the three months ended September 30, 2015 and provided an operational update.

Third Quarter 2015 Summary

Production of 8.4 Bcfe for the quarter (90.9 Mmcfed), within guidance. 24% reduction in recurring direct lease operating expenses for the quarter (i.e. excluding workovers), 15% decrease in per unit costs. 20% reduction in recurring cash G&A costs for the quarter. Adjusted EBITDAX of $20.7 million for the quarter.... More