Houston-based Contango Oil & Gas has bought up the Oklahoma assets of White Star Petroleum as that company works its way through a Chapter 11 bankruptcy process, writes Julia Martinez.
As part of the $132.5 million agreement, Contango will add about 315,000 net acres and about 15,000 barrels of oil equivalent per day in Oklahoma.
A majority of the acreage, around 230,000 net acres, is in the Cherokee region, along with 45,000 net acres in the Stack play and 31,800 in the Anadarko area.
