HOUSTON, Oct. 18, 2019 (GLOBE NEWSWIRE) -- Contango Oil & Gas Company (NYSE American: MCF) announced that John C. Goff, a current director and the Company’s largest shareholder, has been appointed Non-Executive Chairman of the Board of Directors. Mr. Goff replaces Joe Romano, who will remain on the Board as a director. Mr. Goff said, “We thank Joe for his years of service as Chairman of the Board and look forward to his continued contribution as a director of the Company. We are excited about our recent announcements of the pending acquisitions of Will Energy and White Star, which are truly transformative transactions for Contango. We are committed to our strategy of continuing to consolidate the fragmented E&P space during this unique window of opportunity. Wilkie Colyer has worked with me for the last 12 years and I look forward to supporting him and the dedicated Contango team.”
Contango also announced today that it has enhanced its management team through the appointment of Farley Dakan as its Senior Vice President – Corporate Development. In his new role at Contango, Mr. Dakan will report to Wilkie S. Colyer, Contango’s President & CEO, and will be responsible for the integration of the Company’s recent acquisitions, as well as the identification, evaluation, financing and integration of future acquisitions as part of the Company’s consolidation strategy.
Mr. Dakan has extensive experience in management, advisory and board roles with both private and public companies in a number of different industries. Immediately prior to joining Contango, Mr. Dakan was founder, owner and CEO of Will Energy Corporation, which recently entered into a Contribution and Purchase Agreement for the sale of its oil and gas asset portfolio to Contango. Prior to founding Will Energy Corporation, Mr. Dakan’s advisory and management roles were in support of clients such as Wells Fargo, Fortress Investment Group, Goldman Sachs, Credit Suisse and numerous other investment firms and corporations. Mr. Dakan began his career with a predecessor firm of Ernst & Young and graduated with a degree in finance from Baylor University.
Mr. Colyer said “We are extremely fortunate to be able to attract Farley to Contango. Farley’s extensive experience and network in the distressed asset arena will position him to contribute immediately to our goal of identifying and consummating additional industry consolidation opportunities.”
About Contango Oil & Gas Company
Contango Oil & Gas Company is a Houston, Texas based, independent oil and natural gas company whose underlying business has been to maximize production and cash flow from its offshore properties in the shallow waters of the Gulf of Mexico and onshore properties in Texas and Oklahoma and to use that cash flow to explore, develop, exploit, increase production from and acquire crude oil and natural gas properties across the United States. Contango has added to its corporate strategy the implementation of a consolidation strategy to pursue the acquisition of PDP-heavy opportunities that it believes will be available in the near future from stressed or distressed situations. Additional information is available on the Company’s website at http://contango.com. Information on the website is not part of this release.
