Contango to sell part of Arkansas properties for $128 mln

venerdì 4 gennaio 2008 23:01

Jan 4 (Reuters) - Contango Oil & Gas Co (MCF.A: Quotazione) said it agreed to sell the remaining eastern core of its Arkansas Fayetteville Shale properties to Contango to XTO Energy Inc XTO.N for about $128 million, as a part of its review of strategic alternatives.

Together in this transaction, Contango and its partners agreed to sell about 20,000 acres for about $236 million, the independent oil and gas company said in a statement. (Reporting by Nachiket Kelkar in Bangalore)