Contango Updates Southern Delaware Basin Operations

Contango Oil & Gas Company (NYSE MKT:MCF) (“Contango”) announced today results on its second and third wells drilled on its Southern Delaware Basin acreage in Pecos County, Texas.
As quoted in the press release:

As previously reported, the Rude Ram #1H and Ripper State #1H were drilled from a common surface location approximately one mile south of the Lonestar Gunfighter #1, our first well in this area. Both wells targeted different landing zones within the Wolfcamp A and were completed in late April with initial flowback commencing shortly thereafter. After 30 days of flowback, the Rude Ram, which targeted the Upper Wolfcamp A, reached a maximum 24-hour IP rate of 1,304 Boed (69% oil), while the Ripper State, which targeted the Middle Wolfcamp A, reached a maximum 24-hour IP rate of 1,131 Boed (73% oil). These rates compare favorably to the 966 Boed maximum 24-hour IP rate previously disclosed for the Lonestar Gunfighter well which targeted the Middle Wolfcamp A.

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