Contango Oil & Gas has completed its acquisition of certain assets from White Star Petroleum and certain of its affiliates for a total purchase price of $132.5 million and expanded its senior credit facility to $145 million.

JPMorgan Chase Bank served as administrative agent for the facility and two additional banks were added to the bank group. The borrowing base increased to $145 million.

The acquisition was funded from net proceeds from the previously announced private placement of series b contingent convertible preferred stock and borrowings under the credit agreement.

Contango Oil & Gas is a Houston-based independent oil and natural gas company.