Contango Oil & Gas A Risk Worth Taking? [Part 2]

Continued from part 1… Elsewhere, the majority of Contango Oil & Gas Company (NYSEMKT:MCF)’s main onshore reserves are located within the Eagle Ford play. There is also a play in the Jonah Field up in Wyoming and the DJ Basin in Colorado. However, one of Contango’s more interesting plays is the Buda reserve located within/under Eagle Ford. Buda is an oil formation that lies around 100 feet below the Eagle Ford. Unlike the Eagle Ford, the Buda has natural fractures and does not require expensive fracture stimulation jobs to complete the well. Contango owns 5,700 net acres in the Buda…