Contango makes first offshore GoM discovery
Contango Oil & Gas has an exploration discovery at South Timbalier 17 in the Gulf of Mexico.
HOUSTON –Contango Oil & Gas (NYSE MKT:MCF) has an exploration discovery at South Timbalier 17 in the Gulf of Mexico.
The well was drilled to a total measured depth of approximately 11,400 feet and the wireline logs of the well indicate the presence of hydrocarbons.
“We are pleased to have our first offshore discovery this year and are eager to drill additional offshore wells in our inventory,” said Joseph R. Romano, Contango’s chairman and CEO. “Our exploration permits have been approved on three of our prospects, and we hope to spud our next well, Ship Shoal 255, before the end of the year.”