HOUSTON, July 06, 2020 (GLOBE NEWSWIRE) -- Contango Oil & Gas Company (NYSE American: MCF) announced today that Farley Dakan has been promoted to the position of President of the Company. Additionally, the Company has appointed Chad Roller as Senior Vice President – Chief Operating Officer and Chad McLawhorn as Senior Vice President – General Counsel and Corporate Secretary of the Company. Wilkie Colyer, previously the Company’s President & Chief Executive Officer, will remain the Company’s Chief Executive Officer. Messrs. Dakan, Roller, and McLawhorn will report to Mr. Colyer.
Chad Roller, PhD, most recently served as President and Chief Operating Officer of the general partner for Mid-Con Energy Partners, LP. Previously, he served as Vice President of Development and Petroleum Engineer at Mid-Con Energy Operating. Additional experience includes multiple roles at Royal Dutch Shell including Advisor to the Chief Petroleum Engineer, Business Planner, Deepwater Exploration Support, and Petroleum Engineer. Chad Roller received his PhD from Rice University and Master of Science and Bachelor of Science degrees from the University of Oklahoma.
Chad McLawhorn served as Vice President, General Counsel and Corporate Secretary of the general partner of Mid-Con Energy Partners, LP, a publicly held upstream master limited partnership, from March 2016 to June 2020. From August 2009 to March 2016, he held a series of positions of increasing responsibility at Samson Resources Corporation, a privately held oil and gas company, including Assistant General Counsel and Corporate Secretary. Earlier in his career, Mr. McLawhorn was in private practice with McAfee & Taft. Mr. McLawhorn received his Bachelor of Science degree from the University of Oklahoma and his Juris Doctor also from the University of Oklahoma.
The Company would also like to comment on the registration statements filed following conversion of preferred stock sold in private placements in late 2019 to common stock. While the phrase “selling shareholders” is used to describe the holders of stock covered by these registration statements, it does not necessarily mean that those individuals or entities are selling or will sell any common stock. Notably, none of Messrs. Goff, Colyer, or Dakan have sold any shares of stock in the Company dating back to the beginning of their active involvement with Contango in 2018 (Goff/Colyer) and 2019 (Dakan).
Wilkie S. Colyer, the Company’s Chief Executive Officer, said, “We are excited to bring Chad and Chad on board to the Contango team. They will be vital in managing not just the Mid-Con assets under our Management Services Agreement but the rest of the Contango portfolio as well. I have known and worked closely with Chad Roller and Chad McLawhorn for several years and know they will be able to drive incremental value for Contango shareholders. Farley’s promotion is less a change in scope and more to better reflect his role and level of responsibility at the Company, but it will not change our focus on making acquisitions in this target rich environment. This continues to be a Company with insiders as the largest shareholders, and we know of no better way to align interests with that of outside shareholders than that.”
About Contango Oil & Gas Company
Contango Oil & Gas Company is a Houston, Texas based, independent oil and natural gas company whose business is to maximize production and cash flow from its offshore properties in the shallow waters of the Gulf of Mexico and onshore properties in Texas, Oklahoma, Louisiana and Wyoming and, when determined appropriate, to use that cash flow to explore, develop, exploit, and increase production from its existing properties, to acquire additional PDP-heavy crude oil and natural gas properties or to pay down debt. Additional information is available on the Company's website at http://contango.com. Information on our website is not part of this release.
