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6-13 National business briefs


Ring Energy announces results of redetermination of credit facility
THE WOODLANDS, Texas — Ring Energy Inc. announced that the borrowing base under its senior revolving credit facility was successfully reaffirmed at its current level of $350 million. Key highlights include the following:
• Reaffirmation of the borrowing base at $350 million.
• Easing of the minimum required oil hedges for calendar 2022 from 4,000 barrels per day to 3,100 Bbls/d, which is fully covered by oil hedges currently in place.
• Enhances price optionality and increases forecasted 2021 cash flow generation; and
Next regularly scheduled bank redetermination will be on or around Nov. 1.
Independence Energy to combine with Contango ....

Eagle Ford , United States , Fort Worth , Equatorial Guinea , Moss Adams , Tony Curcio , Buchanan Technologie , Steve Herron , Moss Adam , Energy Real Assets , Hanover College , Silica Services , Harvard Business School , Pioneer Sands , Independence Energy , National Sales , Service Organization , Ball State University , Ring Energy , Ring Energy Inc , Energy Inc , V Sandco , Contango Oil Gas Co , Contango Oil , Real Assets , Annual General Meeting ,

What contango, backwardation mean to commodity traders - The Hindu BusinessLine


What contango, backwardation mean to commodity traders
Bavadharini KS
BL Research Bureau |
Updated on
April 24, 2021
×
Contango and backwardation are two common terms that investors and traders in commodities markets often hear. Understanding them helps gauge the price, demand and supply in the market for a particular commodity.
A trader or investor refers to a market condition for a commodity as contango when the futures price (for that commodity) is trading at a premium to spot price. This difference can arise as futures contract accounts for the spot price plus the cost of carry, storage and insurance. So often, the later-date futures contract could be more than just the underlying spot price, depending on the time until delivery. ....

Commodity Traders , பண்டம் வர்த்தகர்கள் ,

Contango Completes Acquisition of Silvertip Assets


Assets acquired are low decline, oily, and held by production
Contango’s 
net producing oil decline rate projected to drop to approximately 11% in 2021
FORT WORTH, Texas, Feb. 01, 2021 (GLOBE NEWSWIRE) Contango Oil & Gas Company (NYSE American: MCF) (“Contango” or the “Company”) today announced the successful completion of its previously announced acquisition of assets located in the Big Horn, Permian, and Powder River Basins (“Project Silvertip”).
In accordance with the terms of the Purchase and Sale Agreement (“PSA”), Contango acquired these assets for $58 million, subject to customary purchase price adjustments and an August 1, 2020 effective date.
Wilkie S. Colyer, Jr., Contango’s Chief Executive Officer, commented, “We are excited to announce the closing of the Silvertip assets. Since signing the PSA, we have only grown more excited by the producing reserves, employees, and upside the Silvertip assets provide. We continue to be ....

United States , Gulf Of Mexico , Fort Worth , Powder River , E Joseph Grady , Wilkies Colyer Jr , Exchange Commission , Contango Oil , Securities Exchange , Contango Oil Gas Company , Gas Company , Big Horn , Powder River Basins , Sale Agreement , Chief Executive Officer , Securities Act , Securities Exchange Act , Annual Report , Vice President , Chief Financial , Contango Oil Gas Company Stock Exchange , Press Release , Producing Mcf , ஒன்றுபட்டது மாநிலங்களில் , வளைகுடா ஆஃப் மெக்ஸிகோ , கோட்டை மதிப்பு ,

Contango Completes Acquisition of Mid-Con Energy Partners


Mid-Con Energy Partners unitholders receive 1.75 Contango share per MCEP unit
Contango’s and Mid-Con’s operations will be consolidated in Fort Worth, TX
As a result, John Goff, Contango’s Chairman and largest shareholder, ownership in Contango increases to 24.3%
/EIN News/ FORT WORTH, Texas, Jan. 21, 2021 (GLOBE NEWSWIRE) Contango Oil & Gas Company (NYSE American: MCF) (“Contango” or the “Company”) today announced the successful completion of its acquisition of Mid-Con Energy Partners, LP (“Mid-Con”) (NASDAQ: MCEP).
In accordance with the terms of the merger agreement, Mid-Con unitholders will receive 1.75 shares of Contango common stock for each unit of Mid-Con common units owned. Prior to the open of trading today, Mid-Con common units ceased to be listed for trading on the Nasdaq Global Select Market. ....

United States , Gulf Of Mexico , Fort Worth , John Goff , E Joseph Grady , Wilkies Colyer Jr , Johnc Goff , Exchange Commission , Contango Oil , Securities Exchange , Contango Oil Gas Company , Gas Company , Energy Partners , Mid Con Energy Partners , Nasdaq Global Select , Chief Executive Officer , Securities Act , Securities Exchange Act , Annual Report , Vice President , Chief Financial , Mid Con , ஒன்றுபட்டது மாநிலங்களில் , வளைகுடா ஆஃப் மெக்ஸிகோ , கோட்டை மதிப்பு , ஜான் காஃப் ,