Contango Oil & Gas (MCF) and Crimson Exploration (CXPO) jointly announced that they have formally closed their previously announced merger. The combined company will be a well-positioned Houston-based independent oil and gas company with a balanced offshore Gulf of Mexico and onshore Texas production profile. Both Contango and Crimson stockholders voted to approve the transaction at a special meeting of their respective stockholders. In accordance with the terms of the merger agreement, Crimson has become a wholly-owned direct subsidiary of Contango, and Contango will issue approximately 3.9M shares of its common stock in exchange for all of Crimson’s outstanding capital stock. Effective October 2, trading in Crimson common stock has been discontinued.
- Mergers, Acquisitions & Takeovers