Contango Oil & Gas Co. entered a joint venture (JV) agreement on Dec. 20 to develop certain offshore exploration prospects in the U.S. Gulf of Mexico (GoM) shelf owned by Juneau Oil & Gas LLC.

“Our entire team could not be more excited to reconnect with our original partner Contango Oil & Gas, which Ken Peak and I started back in 1999,” Brad Juneau, president of Juneau Oil & Gas, said in a statement.

The companies’ original partnership made several notable discoveries in the GoM from inception, including the discovery of the Dutch and Mary Rose Field, which Wilkie S. Colyer, Contango’s president and CEO , said continues to be an important contributor to Contango’s reserves and cash flow.

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Offshore