S-T article said Contango has 200 EE's most of which are doing field work and Mid-Con has 128 EE's guessing many in the field too, so maybe they don't need a ton of SQFT for office? Maybe just a nice meeting space and some offices for the executives and support staff.
according to this, Contango has only 77 EE's so maybe they use temp labor based on demand and outsource some of their field staffing?
https://www.zoominfo...ntango/36096573
https://www.zoominfo...rs-lp/343570373
From Mid-Con's 2019 10-K Filing:
https://ir.midconene...4a-a98f5eca6eaf
Employees
The officers of our general partner manage our operations and activities. Neither we, our subsidiaries, nor our general partner have employees. Our general partner has entered into a services
agreement with Mid-Con Energy Operating pursuant to which Mid-Con Energy Operating will perform services for us, including the operation of our properties. Mid-Con Energy Operating has
approximately 100 employees performing services for our operations and activities. We believe that Mid-Con Energy Operating has a satisfactory relationship with these employees.
From Contango's 2019 10-K filing:
https://ir.contango....fc-a6ed3c1f1f88
Employees
On December 31, 2019, we had 124 full time employees, of which 62 were field personnel. Half of
our employees were previous White Star employees at the time of the acquisition. We have been able to attract and retain a
talented team of industry professionals that have been successful in achieving significant growth and success in the past. As
such, we are well-positioned to adequately manage and develop our existing assets and also to increase our proved reserves
and production through exploitation of our existing asset base, as well as the continuing identification, acquisition and
development of new growth opportunities. None of our employees are covered by collective bargaining agreements. We
believe our relationship with our employees is good.
In addition to our employees, we use the services of independent consultants and contractors to perform various
professional services. As a working interest owner, we rely on certain outside operators to drill, produce and market our
natural gas and oil where we are a non-operator. In prospects where we are the operator, we rely on drilling contractors to
drill and sometimes rely on independent contractors to produce and market our natural gas and oil. In addition, we
frequently utilize the services of independent contractors to perform field and on-site drilling and production operation
services and independent third party engineering firms to evaluate our reserves.
Corporate Offices
Our principle corporate office is located at 717 Texas Avenue in downtown Houston, Texas, under a lease that
expires March 31, 2021. Rent, including parking, related to this office space for the year ended December 31, 2019 was
approximately $0.6 million. We also have a corporate office located at 301 NW 63rd Street, Oklahoma City, Oklahoma,
which we acquired through the White Star Acquisition. See Note 4 – “Acquisitions and Dispositions” for more
information. The lease for this office was amended effective December 1, 2019, upon the closing of the White Star
acquisition, and expires January 31, 2022. Rent, including parking, related to this office space is expected to be
approximately $20,000 per month through the expiration.