Contango O & G (MCF) Stock News, Jun 5, 2020

Contango Oil & Gas Company (NYSE American: MCF) announced a new 'fee for service' property management option for distressed assets, aiming to lower administrative costs while enhancing its growth strategy. The company has entered a Management Services Agreement with Mid-Con Energy Partners, LP, to manage its oil and gas properties for an annual fee of $4 million, plus deferred payments and warrants. Contango plans to hire key personnel to bolster its expertise in enhanced oil recovery. This agreement illustrates Contango's proactive approach to generating revenue amid challenging market conditions.