Monday, July 2, 2012

Contango Enters The TMS

It appears that another Gulf of Mexico player as come onshore.  Contango Oil & Gas Company has announced a lease position in the TMS.

"In addition to our planned activities in the Gulf of Mexico, we have invested approximately $5 million to lease approximately 14,000 acres in the Tuscaloosa Marine Shale ("TMS"), a shale play in Louisiana and Mississippi, with an option to purchase approximately 10,000 additional acres. The TMS is an oil focused play and we intend to watch the play develop before we commit to drilling any exploratory wells."

Contango's recorded leases are in Concordia, Avoyelles, and W. Feliciana Parishes.

Press Release:
http://www.marketwatch.com/story/contango-apparent-high-bidder-at-central-gulf-of-mexico-lease-sale-216222-and-updates-operations-2012-06-25

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