Contango Oil & Gas (MCF) Reports Q2 Loss of $0.90/share

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Go back to Contango Oil & Gas (MCF) Reports Q2 Loss of $0.90/share

Contango Announces Second Quarter 2016 Financial Results and Provides Operations Update

August 3, 2016 5:44 PM EDT

HOUSTON--(BUSINESS WIRE)-- Contango Oil & Gas Company (NYSE MKT: MCF) (Contango or the Company) announced today its financial results for the three and six months ended June 30, 2016 and provided an operational update.

Second Quarter Summary

Production of 6.8 Bcfe for the quarter, or 74.6 Mmcfed; within guidance Adjusted EBITDAX of $10.1 million for the quarter and net loss of $17.3 million Quarter-end debt balance of $111 million, a $4.5 million decrease from year-end Completed the purchase of approximately 12,100 gross operated undeveloped acres (~5,000 net to... More