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Tuesday, 07 October, 2008, 19:50 GMT | more prices >>

Contango steps back into black



By Upstream staff 

Houston-based independent Contango Oil & Gas Company has clawed its way back into profit in the first quarter of 2006, booking first-quarter net income attributable to common stock of $7 million, or five cents per basic and diluted share, up from a net loss of $1.2 million, or nine cents per basic or dilute share, in the first quarter of 2005.

The increase was attributable to an increase in crude and natural gas prices and an increase in oil output, the company said.

Pre-tax earnings for the first three months of 2006 was $2.1 million compared with $600,000 for the first half of 2005.

Contango is a major investor in Arkansas's Fayetteville Shale play.


Monday, 15 May, 2006, 17:07 GMT  | last updated: Tuesday, 16 May, 2006, 11:47 GMT

Texas two-step: Houston-based Contango's first quarter results reversed the losses reported in the same quarter a year ago
 

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