Contango Oil & Gas will purchase all Wyoming natural gas assets owned by ConocoPhillips, the company revealed Thursday. The acquisition comes as ConocoPhillips moves to sell off some of its oil and gas assets and Contango looks to continue expanding its operations in Wyoming.
The $67 million deal will transfer approximately 446 billion cubic feet equivalent of proved, developed and producing reserves in the Wind River Basin to Contango, a Houston-based oil and gas company. It’s expected to be finalized in the next few months.