Contango Oil & Gas Company (NYSEAM:MCF) will look for acquisition opportunities. Wilkie S. Colyer, Jr., Contango's Chief Executive Officer, said, 'We are excited to announce the closing of the acquisition of the Wind River Basin assets from ConocoPhillips. We feel fortunate to have been able to acquire these PDP-heavy assets at a discount to the proved producing reserve value and believe that we can further enhance the value of the assets through Contango's track record of optimizing cash flow and reserves on acquired assets. We continue to be on the lookout for similar, additional acquisition opportunities in this target-rich environment'.