Contango Oil & Gas (MCF) 10-Q 12 Nov 13 2013 FY Quarterly report Financial data

Document_And_Entity_Informatio

Document And Entity Information	3 Months Ended
	Sep. 30, 2013	Nov. 08, 2013
Document And Entity Information [Abstract]	'	'
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	30-Sep-13	'
Document Fiscal Year Focus	'2013	'
Document Fiscal Period Focus	'FY	'
Entity Registrant Name	'CONTANGO OIL & GAS CO	'
Entity Central Index Key	'0001071993	'
Current Fiscal Year End Date	'--06-30	'
Entity Filer Category	'Large Accelerated Filer	'
Entity Common Stock, Shares Outstanding	'	15,194,952
Entity Well-known Seasoned Issuer	'No	'
Entity Voluntary Filers	'No	'
Entity Current Reporting Status	'Yes	'

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Sep. 30, 2013	Jun. 30, 2013
In Thousands, unless otherwise specified
CURRENT ASSETS:	'	'
Cash and cash equivalents	$137,508	$101,485
Accounts receivable:	'	'
Trade receivable	29,445	26,312
Joint interest billings	5,032	4,996
Income taxes	0	4,504
Other receivables	7,773	648
Prepaid expenses	2,330	4,146
Inventory, Net	2,147	2,147
Total current assets	184,235	144,238
PROPERTY, PLANT AND EQUIPMENT:	'	'
Proved properties	560,522	562,572
Unproved properties	39,297	24,259
Furniture and equipment	218	229
Accumulated depreciation, depletion and amortization	-228,607	-218,122
Total property, plant and equipment, net	371,430	368,938
OTHER ASSETS:	'	'
Investment in affiliates	49,334	63,123
Other	373	162
TOTAL ASSETS	605,372	576,461
CURRENT LIABILITIES:	'	'
Accounts payable	6,199	4,926
Royalties and revenue payable	23,240	21,651
Accrued liabilities	4,604	4,882
Accrued exploration and development	930	313
Taxes Payable, Current	94	0
Total current liabilities	35,067	31,772
DEFERRED TAX LIABILITY	120,396	115,923
ASSET RETIREMENT OBLIGATION	11,015	9,612
SHAREHOLDERS' EQUITY:	'	'
Common stock, $0.04 par value, 50,000,000 shares authorized; 20,135,107 shares issued and 15,194,952 outstanding at September 30, 2013 and June 30, 2013	805	805
Additional paid-in capital	79,024	79,024
Treasury shares at cost (4,940,155 shares at September 30, 2013 and June 30, 2013)	-117,162	-117,162
Retained earnings	476,227	456,487
Total shareholders' equity	438,894	419,154
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$605,372	$576,461

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Sep. 30, 2013	Jun. 30, 2013
Statement of Financial Position [Abstract]	'	'
Common stock, par value	$0.04	$0.04
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	20,135,107	20,135,107
Common stock, shares outstanding	15,194,952	15,194,952
Treasury stock, shares	4,940,155	4,940,155

Consolidated_Statements_Of_Ope

Consolidated Statements Of Operations (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012
REVENUES:	'	'
Natural gas and oil sales	$34,722	$29,765
Total revenues	34,722	29,765
EXPENSES:	'	'
Operating expenses	5,553	6,464
Exploration expenses	89	44,984
Depreciation, depletion and amortization	11,518	9,566
Impairment of Oil and Gas Properties	0	8,410
General and administrative expense	2,657	2,580
Total expenses	19,817	72,004
Income (Loss) from Equity Method Investments, Net of Tax	669	164
Gain on Sale of Investments	15,645	0
Other income (expense)	40	-12
Total Other/Income (Expense)	16,354	152
NET INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	31,259	-42,087
Provision for income taxes	-11,519	14,538
INCOME FROM CONTINUING OPERATIONS	19,740	-27,549
NET INCOME ATTRIBUTABLE TO COMMON STOCK	$19,740	($27,549)
Basic	'	'
Total	$1.30	($1.80)
Diluted	'	'
Total	$1.30	($1.80)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:	'	'
Basic	15,195	15,292
Diluted	15,195	15,292

Consolidated_Statements_Of_Cas

Consolidated Statements Of Cash Flows (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012
CASH FLOWS FROM OPERATING ACTIVITIES:	'	'
Net income	$19,740	($27,549)
Adjustments to reconcile net income to net cash provided by operating activities:	'	'
Depreciation, depletion and amortization	11,518	9,566
Impairment of natural gas and oil properties	0	8,410
Exploration expenses	0	44,832
Deferred income taxes	4,473	-7,232
Loss from investment in affiliates	-1,030	-252
Gain (Loss) on Disposition of Assets	15,645	0
Changes in operating assets and liabilities:	'	'
Decrease (increase) in accounts receivable and other	-2,573	1,355
Decrease (increase) in prepaids and other receivables	1,160	200
Increase (decrease) in accounts payable and advances from joint owners	2,826	-1,913
Increase (decrease) in other accrued liabilities	-278	-1,477
Increase (decrease) in income taxes payable, net	4,598	-7,817
Other	-117	-207
Net cash provided by operating activities	24,672	17,916
CASH FLOWS FROM INVESTING ACTIVITIES:	'	'
Natural gas and oil exploration and development expenditures	-11,322	-17,205
Investments in affiliates	-481	-733
Distributions from affiliates	23,154	7,823
Net cash used in investing activities	11,351	-10,115
CASH FLOWS FROM FINANCING ACTIVITIES:	'	'
Net cash used in financing activities	0	0
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	36,023	7,801
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	101,485	129,983
CASH AND CASH EQUIVALENTS, END OF PERIOD	137,508	137,784
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:	'	'
Cash paid for taxes, net of cash received	2,808	600
Cash paid for interest	$0	$13

Consolidated_Statement_Of_Shar

Consolidated Statement Of Shareholders' Equity (USD $)	Total	Common Stock [Member]	Additional Paid-In Capital [Member]	Treasury Stock [Member]	Retained Earnings [Member]
In Thousands, except Share data, unless otherwise specified
Balance at Jun. 30, 2013	$419,154	$805	$79,024	($117,162)	$456,487
Balance, shares at Jun. 30, 2013	15,194,952	15,195,000	'	'	'
Increase (Decrease) in Stockholders' Equity [Roll Forward]	'	'	'	'	'
Net income	19,740	'	'	'	19,740
Balance at Sep. 30, 2013	$438,894	$805	$79,024	($117,162)	$476,227
Balance, shares at Sep. 30, 2013	15,194,952	15,195,000	'	'	'

Basis_of_Presentation

Basis of Presentation	3 Months Ended
	Sep. 30, 2013
Basis of Presentation [Abstract]	'
Basis of Presentation and Significant Accounting Policies [Text Block]	'
	Basis of Presentation
	The accompanying unaudited consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information, pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”), including instructions to Quarterly Reports on Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all the information and footnotes required by GAAP for complete annual financial statements. In the opinion of management, all adjustments considered necessary for a fair statement of the unaudited consolidated financial statements have been included. All such adjustments are of a normal recurring nature. The consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes included in Contango Oil & Gas Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2013. The Company's board of directors recently voted to change the fiscal year-end to December 31. The consolidated results of operations for the three months ended September 30, 2013 are not necessarily indicative of the results that may be expected for the six months ending December 31, 2013.
	On October 1, 2013, the Company completed a merger ("the Merger") with Crimson Exploration Inc ("Crimson"). As the Merger was not completed until after September 30, 2013, the accompanying unaudited consolidated financial statements have not been prepared to include balance sheet or results of operations of Crimson, and thus reflect only Contango and its subsidiaries prior to the Merger. See Note 9 - "Subsequent Events" for more information on the Merger.

Organization_and_Business

Organization and Business	3 Months Ended
	Sep. 30, 2013
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
Organization and Business	'
	Business
	General
	We are a Houston-based, independent natural gas and oil company. Our core business is to explore, develop, produce and acquire natural gas and oil properties onshore and offshore in the Gulf of Mexico in water-depths of less than 300 feet, using cash generated from our existing property base. As of September 30, 2013, we had no debt.
	On April 29, 2013, we signed a merger agreement with Crimson, for an all-stock transaction pursuant to which Crimson would become a wholly owned subsidiary of the Company. This transaction was approved by shareholders and closed on October 1, 2013. Upon consummation of the Merger, each share of Crimson stock was converted into the right to receive 0.08288 shares of Company stock resulting in Crimson stockholders owning approximately 20.3% of the post-merger Company. See Note 9 - "Subsequent Events" for more information on the Merger.
	Operations
	On July 30, 2013, we spud a well at our South Timbalier 17 prospect with the Hercules 202 rig, and on August 22, 2013 we announced that it was successful. Estimated net costs to Contango to drill, complete and bring this well to full production status are $14.8 million. The well was completed in September 2013, and facility construction is in progress. As of September 30, 2013, we had spent $10.3 million on this field , net to Contango, including leasehold costs. Prior to payout, our working interest in the well is 75.0% and our net revenue interest is 53.3%. After payout, we will have a working interest of 59.3% and a net revenue interest of 42.1% (including our share of the Republic Exploration LLC ("REX") ownership interest).
	As of September 30, 2013, the Company had invested approximately $10.3 million in leasehold costs in the Tuscaloosa Marine Shale ("TMS") for approximately 28,000 acres. Additionally, we invested $5.8 million to to drill a horizontal well with Goodrich Petroleum Company in the TMS. Our non-operated working interest in this well is 25%. This well was successfully completed and is currently producing approximately 315 barrels of oil per day, with cumulative production of 116,000 barrels of oil through September 30, 2013.
	In August 2013, the Company received notice that a third party proposed to sell its interests in oil and gas assets in the Gulf of Mexico, including its interests  in  five Dutch wells.  In September 2013, the Company exercised its preferential right to purchase its pro-rata interest in the five Dutch wells and related assets for approximately $18.8 million.  The purchase is expected to close by the end of November 2013.
	Investments
	Alta Resources Investments, LLC. Our total investment in Alta Resources Investments, LLC ("Alta"), whose primary area of focus is the liquids-rich Kaybob Duvernay Play in Alberta, Canada, was $15.2 million. On August 1, 2013, Alta sold its interest in over 67,000 acres in the Kaybob Duvernay Play. Net proceeds to the Company from the sale are expected to be approximately $30.8 million. Of the total expected proceeds, the Company received approximately $23.1 million in September 2013 and recognized a gain of approximately $15.6 million. We expect to receive the remaining proceeds of $7.7 million by the end of calendar year 2013. This amount is included in Other Accounts Receivable on the Consolidated Balance Sheet as of September 30, 2013.
	Exaro Energy III LLC. As of September 30, 2013, we had also invested approximately $46.9 million for a 37% interest in Exaro Energy III LLC ("Exaro"), which is primarily focused on the development of proved reserves in the Jonah Field in Wyoming. For the three months ended September 30, 2013 and September 30, 2012 we recognized a gain of approximately $0.7 million and $0.2 million, (net of tax expense of $360,000 and $88,000) respectively, for our share of Exaro's earnings.

Summary_of_Significant_Account

Summary of Significant Accounting Policies	3 Months Ended
	Sep. 30, 2013
Accounting Policies [Abstract]	'
Summary of Significant Accounting Policies	'
	Summary of Significant Accounting Policies
	The application of GAAP involves certain assumptions, judgments, decisions and estimates that affect reported amounts of assets, liabilities, revenues, expenses, contingencies and reserves. Actual results could differ from these estimates. Contango’s significant accounting policies are described below.
	Successful Efforts Method of Accounting. The Company follows the successful efforts method of accounting for its natural gas and oil activities. Under the successful efforts method, lease acquisition costs and all development costs are capitalized. Exploratory drilling costs are capitalized until the results are determined. If proved reserves are not discovered, the exploratory drilling costs are expensed. Other exploratory costs, such as seismic costs and other geological and geophysical expenses, are expensed as incurred. The provision for depreciation, depletion and amortization is based on the capitalized costs as determined above. Depreciation, depletion and amortization is calculated on a field by field basis using the unit of production method, with lease acquisition costs amortized over total proved reserves and other costs amortized over proved developed reserves.
	Impairment of Long-Lived Assets. When circumstances indicate that proved properties may be impaired, the Company compares expected undiscounted future net cash flows on a field by field basis to the unamortized capitalized cost of the asset. If the future undiscounted net cash flows based on the Company’s estimate of future natural gas and oil prices and operating costs and anticipated production from proved and probable reserves, are lower than the unamortized capitalized cost, then the capitalized cost is reduced to fair market value. No impairment of proved properties was recognized in continuing operations for the three months ended September 30, 2013. For the three months ended September 30, 2012, we recorded an impairment expense of approximately $8.4 million related to proved properties. Of this amount, approximately $6.3 million related to our Ship Shoal 263 well and $2.1 million related to the Eugene Island 24 platform and other properties. Despite the writedowns on Ship Shoal 263, this well reached payout during fiscal year 2012.
	Unproved properties are reviewed quarterly to determine if there has been impairment of the carrying value, with any such impairment charged to expense in the period. No impairment of unproved properties was recognized during the three months ended September 30, 2013. For the three months ended September 30, 2012, the Company recognized impairment expense of approximately $1.2 million related to an unsuccessful exploration program in Jim Hogg County, Texas and $6.6 million related to leasehold costs at our dry holes at Ship Shoal 134 and South Timbalier 75. These costs are all included in exploration expenses.
	Cash Equivalents. Cash equivalents are considered to be highly liquid investment grade investments having an original maturity of 90 days or less. As of September 30, 2013, the Company had approximately $137.5 million in cash and cash equivalents, all of which was held in interest bearing investment accounts.
	Principles of Consolidation. The Company’s consolidated financial statements include the accounts of Contango Oil & Gas Company and its subsidiaries and affiliates, after elimination of all significant intercompany balances and transactions. Wholly-owned subsidiaries are consolidated. Exploration and development affiliates not wholly owned, such as 32.3% owned Republic Exploration, LLC (“REX”), are not controlled by the Company and are proportionately consolidated in the Company’s financial statements.
	Reclassifications. Certain reclassifications have been made to the amounts included in the consolidated financial statements as of June 30, 2013 and for the three months ended September 30, 2012, in order to conform to the presentation as of and for the three months ended September 30, 2013. These reclassifications were not material.
	Recent Accounting Pronouncements. In February 2013, the Financial Accounting Standards Board ("FASB") issued Accounting Standard Update 2013-04 - "Liabilities (Topic 405): Obligations Resulting from Joint and Several Liability Arrangements for Which the Total Amount of the Obligation is Fixed at the Reporting Date". The objective of this update is to provide guidance for the recognition, measurement, and disclosure of obligations resulting from joint and several liability arrangements for which the total amount of the obligations within the scope of this guidance is fixed at the reporting date, except for obligations addressed within existing guidance in U.S. GAAP. Examples of obligations within the scope of this update include debt arrangements, other contractual obligations, and settled litigation and judicial rulings. U.S. GAAP does not include specific guidance on accounting for such obligations with joint and several liability, which has resulted in diversity in practice. The accounting update is effective for interim and annual periods beginning after December 15, 2013. Management is currently evaluating the provisions of this accounting update and assessing the impact , if any, it may have on the Company's financial position and results of operations.
	Further, management is closely monitoring the joint standard-setting efforts of the FASB and the International Accounting Standards Board. There are a large number of pending accounting standards that are being targeted for completion in 2013 and beyond, including, but not limited to, standards relating to revenue recognition, accounting for leases, fair value measurements, accounting for financial instruments, disclosure of loss contingencies and financial statement presentation. Because these pending standards have not yet been finalized, at this time management is not able to determine the potential future impact that these standards will have, if any, on the Company's financial position, results of operations, or cash flows.

Concentration_of_Credit_Risk

Concentration of Credit Risk	3 Months Ended
	Sep. 30, 2013
Concentration Risks, Types, With Concentration Percentage [Abstract]	'
Concentration Risk Disclosure [Text Block]	'
	Customer Concentration Credit Risk
	The customer base for the Company is concentrated in the natural gas and oil industry. Major purchasers of our natural gas and oil for the three months ended September 30, 2013 were ConocoPhillips Company, Shell Trading US Company, Enterprise Products Operating LLC, Exxon Mobil Oil Corporation, and Crosstex Energy Services. Our sales to these companies are not secured with letters of credit and in the event of non-payment, we could lose up to two months of revenues. The loss of two months of revenues would have a material adverse effect on our financial position, but there currently are numerous other potential purchasers of our production.

Credit_Facility

Credit Facility	3 Months Ended
	Sep. 30, 2013
Line of Credit Facility [Abstract]	'
Long-Term Debt	'
	Credit Facility
	In October 2010, the Company obtained a $40 million secured revolving Credit Agreement with Amegy Bank (the “Amegy Credit Agreement”). The Amegy Credit Agreement was supported by a hydrocarbon borrowing base and was available to fund the Company’s exploration and development activities, as well as repurchase shares of common stock, pay dividends and fund working capital as needed. The Amegy Credit Agreement was collateralized by substantially all of the assets of the Company. Borrowings under the Amegy Credit Agreement bore interest at LIBOR plus 2.5%, subject to a LIBOR floor of 0.75%. The principal was due October 1, 2014, and could be prepaid at any time with no prepayment penalty. An arrangement fee of $300,000 was paid in connection with the facility. Effective November 1, 2011, a commitment fee of 0.125%. was owed on unused borrowing capacity. The Amegy Credit Agreement contained customary covenants including limitations on our current ratio and additional indebtedness. As of September 30, 2013, the Company was in compliance with all covenants and had no borrowings outstanding under the Amegy Credit Agreement.
	The Amegy Credit Agreement was refinanced in connection with the Merger with Crimson. See Note 9 - "Subsequent Events" for more information.

Investment_in_Exaro_Energy_LLC

Investment in Exaro Energy LLC (Notes)	3 Months Ended
	Sep. 30, 2013
Investment in Exaro Energy LLC [Abstract]	'
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]	'
	Investment in Exaro Energy LLC
	In April 2012, the Company entered into a Limited Liability Company Agreement , as amended (the “LLC Agreement”) in connection with the formation of Exaro. Pursuant to the LLC Agreement, as amended, the Company has committed to invest up to $67.5 million in cash in Exaro, together with other parties for an aggregate commitment of $182.5 million, or a 37% ownership interest in Exaro. As of September 30, 2013, the Company had invested approximately $46.9 million in Exaro. No additional contributions were made during the three months ended September 30, 2013.
	Our share in Exaro's results of operations for the three months ended September 30, 2013 and September 30, 2012 was $0.7 million, net of tax expense of $360,000, and $0.2 million, net of tax expense of $88,000, respectively.

Income_Taxes

Income Taxes	3 Months Ended
	Sep. 30, 2013
Income Tax Disclosure [Abstract]	'
Income Taxes	'
	Income Taxes
	The Company’s income tax provision for continuing operations consists of the following (in thousands):
		Three Months Ended September 30,
		2013		2012
	Current tax provision (benefit):
	Federal	$	6,536	$	(7,874	)
	State	870		568
	Total	$	7,406	$	(7,306	)
	Deferred tax provision (benefit):
	Federal	$	4,251	$	(7,108	)
	State	222		(124		)
	Total	$	4,473	$	(7,232	)
	Total tax provision (benefit):
	Federal	$	10,787	$	(14,982	)
	State	1,092		444
	Total	$	11,879	$	(14,538	)
	Of the total tax provision for the three months ended September 30, 2013 and September 30, 2012, approximately $360,000 and $88,000 of deferred income tax expense are included in the gain from affiliates line item in the Company's Consolidated Statements of Operations.

Related_Party_Transactions

Related Party Transactions	3 Months Ended
	Sep. 30, 2013
Related Party Transactions [Abstract]	'
Related Party Transactions	'
	Related Party Transactions
	Effective January 1, 2013, Contaro Company ("Contaro"), a wholly-owned subsidiary of the Company, entered into an advisory agreement with Juneau Exploration, L.P. ("JEX") (the "Contaro Advisory Agreement"). Mr. Brad Juneau, a director of the Company is the sole manager of the general partner of JEX. Under the Contaro Advisory Agreement, JEX provides advisory services to Contaro in connection with Contaro's investment in Exaro, and Mr. Juneau serves on the Board of Managers of Exaro on behalf of Contaro and performs such duties as described in the LLC Agreement. Pursuant to the Contaro Advisory Agreement, JEX is paid a monthly fee of $10,000 by Contaro and is entitled to receive a one percent (1%) fee of the cash profit earned by Contaro. Cash profit is defined as the amount of cash received by Contaro as a result of its investment in Exaro, less the cash invested by Contaro in Exaro.
	In December 2012, Mr. Joseph J. Romano was elected President and Chief Executive Officer of the Company. In April 2013, Mr. Romano was elected Chairman of the Board of Directors. Mr. Romano is also the President and Chief Executive Officer of Olympic Energy Partners LLC ("Olympic"). In connection with the Merger, effective October 1, 2013, Mr. Romano continues to serve as Chairman of the Board of Directors, but is no longer the President and Chief Executive Officer of the Company.
	JEX and its affiliates and Olympic have historically participated with the Company in the drilling and development of certain prospects through participation agreements and joint operating agreements, which specify each participant’s working interest ("WI"), net revenue interest ("NRI"), and describe when such interests are earned, as well as allocate an overriding royalty interest ("ORRI") of up to 3.33% to benefit the employees of JEX, excluding Mr. Juneau, except where otherwise noted. Olympic last participated with the Company in the drilling of wells in March 2010. Olympic's ownership in Company-operated wells is limited to our Dutch and Mary Rose wells.
	Republic Exploration LLC. In his capacity as sole manager of the general partner of JEX, Mr. Juneau also controls the activities of REX, an entity owned 34.4% by JEX, 32.3% by Contango, and 33.3% by a third party which contributed other assets to REX. REX generates and evaluates offshore exploration prospects and has historically participated with the Company in the drilling and development of certain prospects through participation agreements and joint operating agreements, which specify each participant’s working interest, net revenue interest, and describe when such interests are earned, as well as allocate an ORRI of up to 3.33% to benefit the employees of JEX. The Company proportionately consolidates the results of REX in its consolidated financial statements.
	As of September 30, 2013, Contango, Olympic, JEX, REX and JEX employees owned the following interests in the Company's offshore wells.
		Contango					Olympic				JEX					REX				JEX Employees
		WI		NRI			WI		NRI		WI		NRI			WI		NRI		ORRI
	Dutch #1 - #5	47.05	%	38.12	%		3.02	%	2.42	%	1.61	%	1.29	%		—	%	—	%	2.02%
	Mary Rose #1	53.21	%	40.44	%		3.61	%	2.7	%	2.01	%	1.51	%		—	%	—	%	2.79%
	Mary Rose #2 - #3	53.21	%	38.67	%		3.61	%	2.58	%	2.01	%	1.44	%		—	%	—	%	2.79%
	Mary Rose #4	34.58	%	25.49	%		2.34	%	1.7	%	1.31	%	0.95	%		—	%	—	%	1.82%
	Mary Rose #5	37.8	%	27.88	%		2.56	%	1.87	%	1.43	%	1.04	%		—	%	—	%	1.54%
	Ship Shoal 263	100	%	80	%		—	%	—	%	—	%	—	%		—	%	—	%	3.33%
	Vermilion 170	83.2	%	64.83	%		—	%	—	%	4.3	%	3.35	%		12.5	%	9.74	%	3.33%
	South Timbalier 17 (1)	75	%	53.25	%		—	%	—	%	—	%	—	%		—	%	—	%	—%
	Crosby 12H-1 (2)	22.5	%	16.31	%		—	%	—	%	2.5	%	1.81	%		—	%	—	%	0.63%
	(1) In June 2013, the Company purchased South Timbalier 17 from an independent oil and gas company. Under the terms of the applicable participation agreement, the Company will have a 75% working interest in this well, with several other owners owning the remainder, until payout of all costs is reached. Once payout of all costs has been reached, REX will have an option to back-in for up to a 9.4% working interest, (6.7% net revenue interest), resulting in the Company owning a 56.3% direct working interests (39.9% direct net revenue interest). The Company paid JEX a prospect fee of $250,000 for evaluating this prospect. There are no JEX employee ORRIs on this prospect.
	(2) In October 2012, the Company purchased a 25% non-operating working interest in the Crosby 12H-1 well in Wilkinson County, Mississippi, targeting the TMS. Under the terms of the applicable participation agreement, Contango had a 25% working interest through first production. Once production began, JEX exercised its option to back-in for a 2.5% working interest and 1.81% net revenue interest, respectively. Once production began, JEX employees also received an ORRI of 0.63%.
	Below is a summary of payments received from (paid to) related parties in the ordinary course of business in our capacity as operator of the wells and platforms for the periods indicated. The Company made and received similar types of payments with other well owners (in thousands):
		Three months ended September 30,
		2013									2012
		Olympic			JEX			REX			Olympic			JEX			REX
	Revenue payments as well owners	$	(1,698	)	$	(1,254	)	$	(470	)	$	(1,540	)	$	(1,133	)	$	(849	)
	Joint interest billing receipts	235			412			908			293			220			91
	Below is a summary of payments received from (paid to) related parties as a result of specific transactions between the Company, Olympic, JEX and REX. While these payments are in the ordinary course of business, the Company did not have similar transactions with other well owners (in thousands):
		Three months ended September 30,
		2013									2012
		Olympic			JEX			REX			Olympic			JEX			REX
	Reimbursement of certain costs	$	—		$	(10	)	$	—		$	—		$	(146	)	$	—
	Payments under Contaro Advisory Agreement	—			(30		)	—			—			(667		)	—
	Investment in REX	—			—			(197		)	—			—			—
	REX distribution to members	—			—			—			—			—			323
	As of September 30, 2013 and June 30, 2013, the Company's consolidated balance sheets included the following balances (in thousands):
		30-Sep-13									30-Jun-13
		Olympic			JEX			REX			Olympic			JEX			REX
	Accounts receivable:
	Trade receivables	$	—		$	1		$	—		$	16		$	21		$	—
	Joint interest billings	66			61			151			178			358			922
	Accounts payable:
	Royalties and revenue payable	(1,292		)	(848		)	(416		)	(1,181		)	(881		)	(285		)
	In addition to the above, the Company paid Mr. Brad Juneau $28,000 during the three months ended September 30, 2013 and 2012 for his services as a director of the Company.

Subsequent_Events

Subsequent Events	3 Months Ended
	Sep. 30, 2013
Subsequent Events [Abstract]	'
Subsequent Events	'
	Subsequent Events
	Merger with Crimson
	On October 1, 2013, the Company completed a merger with Crimson Exploration Inc. In accordance with the terms of the merger agreement, Crimson merged with and into Contango Acquisition, Inc ("Merger Sub"), a wholly-owned subsidiary of the Company with Crimson surviving as a wholly-owned subsidiary of Contango. Contango issued approximately 3.9 million shares of its common stock in exchange for all of Crimson's outstanding capital stock. The Company also assumed $235.4 million in debt, including accrued interest and repayment premium, and issued 135,898 options in exchange for the outstanding options held by Crimson employees.
	Subject to the terms and conditions of the merger agreement, each share of Crimson common stock was converted into the right to receive 0.08288 shares of common stock of the Company. The Merger qualifies as a tax-free reorganization for U.S. federal income tax purposes, so that none of the Company, Crimson, Merger Sub or Crimson's stockholders will recognize any gain or loss in the Merger, except that Crimson's stockholders may recognize gain or loss with respect to cash received in lieu of fractional shares of Company common stock.
	The newly constituted board of directors of the Company consists of Joseph J. Romano, Allan D. Keel, B.A. Berilgen, B. James Ford, Brad Juneau, Lon McCain, Charles M. Reimer, and Steven L. Schoonover. The board of directors has appointed Allan D. Keel as President and Chief Executive Officer of Contango and E. Joseph Grady serves as Senior Vice President and Chief Financial Officer of the Company. Joseph J. Romano remains as Chairman of the Board. Messrs. Keel, Grady and certain other employees of Crimson entered into employment agreements with the Company that became effective upon the consummation of the Merger. The combined company has its headquarters and principal corporate office in Houston, Texas.
	The Merger will be accounted for using the acquisition method of accounting with Contango being considered the acquirer of Crimson for accounting purposes. Contango will allocate the purchase price to the fair value of Crimson’s tangible and intangible assets and liabilities at the acquisition date, with any excess purchase price, if any, being recorded as goodwill. Under the acquisition method of accounting, goodwill is not amortized but is tested for impairment at least annually. The Company is currently working on finalizing the fair value analysis for assets acquired and liabilities assumed and purchase price allocation.
	New Credit Facility
	In connection with the Merger, the Company assumed and immediately repaid Crimson’s $175.0 million debt with Barclays Bank PLC ("Barclays"), its $58.6 million debt with Wells Fargo, and $1.8 million in accrued interest and prepayment premiums. In order to finance the assumed debt, the Company entered into a $500 million four-year revolving credit facility with Royal Bank of Canada and other lenders (the “RBC Credit Facility”) with an initial hydrocarbon supported borrowing base of $275 million. The RBC Credit Facility replaced the Company's $40 million Amegy Credit Agreement. The Company incurred $2.2 million of arrangement and upfront fees in connection with the RBC Credit Facility. Proceeds of the RBC Credit Facility will be used (i) to finance working capital and for general corporate purposes (including requisitions), (ii) for permitted acquisitions, and (iii) to finance transaction expenses in connection with the RBC Credit Facility and the Merger. The RBC Credit Facility is collateralized by substantially all of the assets of the Company and its subsidiaries. Borrowings under the RBC Credit Facility bear interest at a rate that is dependent upon LIBOR or the U.S. prime rate of interest, plus a margin dependent upon the amount outstanding.
	On October 1, 2013, the $235.4 million of assumed debt, accrued interest, and prepayment premium and $2.2 million of arrangement and upfront fees under the RBC Credit Facility were paid with the Company's existing cash of $127.6 million and drawings under our RBC Credit Facility of $110.0 million.
	Advisory Fees
	Upon completion of the Merger, the Company was also required to pay the remaining $1.7 million of a $2.8 million advisory fee to Petrie Partners Securities, LLC, and an assumed liability for an advisory fee to Barclays Capital, Inc. of $2.8 million, who acted as financial advisors to Contango and Crimson, respectively. Both fees were paid in October 2013.
	Derivative Instruments
	As a result of the Merger, Contango assumed all of Crimson's derivative instruments outstanding as of September 30, 2013, including those transfered to the Company via novation. As of September 30, 2013, the net fair value of Crimson's derivative instruments was approximately $0.3 million.
	Exercise of Preferential Right
	In August 2013, the Company received notice from a third party that it proposed to sell its interests in oil and gas assets in the Gulf of Mexico, including its interest in five Dutch wells. In September 2013, the Company exercised its preferential right to purchase its pro-rata interest in the five Dutch wells and related assets for approximately $18.8 million. The sale is expected to close by the end of November 2013.

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policy)	3 Months Ended
	Sep. 30, 2013
Accounting Policies [Abstract]	'
Cash Equivalents	'
	Cash Equivalents. Cash equivalents are considered to be highly liquid investment grade investments having an original maturity of 90 days or less. As of September 30, 2013, the Company had approximately $137.5 million in cash and cash equivalents, all of which was held in interest bearing investment accounts.
Successful Efforts Method of Accounting	'
	Successful Efforts Method of Accounting. The Company follows the successful efforts method of accounting for its natural gas and oil activities. Under the successful efforts method, lease acquisition costs and all development costs are capitalized. Exploratory drilling costs are capitalized until the results are determined. If proved reserves are not discovered, the exploratory drilling costs are expensed. Other exploratory costs, such as seismic costs and other geological and geophysical expenses, are expensed as incurred. The provision for depreciation, depletion and amortization is based on the capitalized costs as determined above. Depreciation, depletion and amortization is calculated on a field by field basis using the unit of production method, with lease acquisition costs amortized over total proved reserves and other costs amortized over proved developed reserves.
Impairment of Long-Lived Assets	'
	Impairment of Long-Lived Assets. When circumstances indicate that proved properties may be impaired, the Company compares expected undiscounted future net cash flows on a field by field basis to the unamortized capitalized cost of the asset. If the future undiscounted net cash flows based on the Company’s estimate of future natural gas and oil prices and operating costs and anticipated production from proved and probable reserves, are lower than the unamortized capitalized cost, then the capitalized cost is reduced to fair market value. No impairment of proved properties was recognized in continuing operations for the three months ended September 30, 2013. For the three months ended September 30, 2012, we recorded an impairment expense of approximately $8.4 million related to proved properties. Of this amount, approximately $6.3 million related to our Ship Shoal 263 well and $2.1 million related to the Eugene Island 24 platform and other properties. Despite the writedowns on Ship Shoal 263, this well reached payout during fiscal year 2012.
	Unproved properties are reviewed quarterly to determine if there has been impairment of the carrying value, with any such impairment charged to expense in the period. No impairment of unproved properties was recognized during the three months ended September 30, 2013. For the three months ended September 30, 2012, the Company recognized impairment expense of approximately $1.2 million related to an unsuccessful exploration program in Jim Hogg County, Texas and $6.6 million related to leasehold costs at our dry holes at Ship Shoal 134 and South Timbalier 75. These costs are all included in exploration expenses.
Principles of Consolidation	'
	Principles of Consolidation. The Company’s consolidated financial statements include the accounts of Contango Oil & Gas Company and its subsidiaries and affiliates, after elimination of all significant intercompany balances and transactions. Wholly-owned subsidiaries are consolidated. Exploration and development affiliates not wholly owned, such as 32.3% owned Republic Exploration, LLC (“REX”), are not controlled by the Company and are proportionately consolidated in the Company’s financial statements.

Income_Taxes_Tables

Income Taxes (Tables)	3 Months Ended
	Sep. 30, 2013
Income Tax Disclosure [Abstract]	'
Components Of Income Tax Expense (Benefit)	'
	The Company’s income tax provision for continuing operations consists of the following (in thousands):
		Three Months Ended September 30,
		2013		2012
	Current tax provision (benefit):
	Federal	$	6,536	$	(7,874	)
	State	870		568
	Total	$	7,406	$	(7,306	)
	Deferred tax provision (benefit):
	Federal	$	4,251	$	(7,108	)
	State	222		(124		)
	Total	$	4,473	$	(7,232	)
	Total tax provision (benefit):
	Federal	$	10,787	$	(14,982	)
	State	1,092		444
	Total	$	11,879	$	(14,538	)

Related_Party_Transactions_Tab

Related Party Transactions (Tables)	3 Months Ended
	Sep. 30, 2013
Related Party Transaction [Line Items]	'
Schedule of Related Party Transactions [Table Text Block]	'
	Below is a summary of payments received from (paid to) related parties in the ordinary course of business in our capacity as operator of the wells and platforms for the periods indicated. The Company made and received similar types of payments with other well owners (in thousands):
		Three months ended September 30,
		2013									2012
		Olympic			JEX			REX			Olympic			JEX			REX
	Revenue payments as well owners	$	(1,698	)	$	(1,254	)	$	(470	)	$	(1,540	)	$	(1,133	)	$	(849	)
	Joint interest billing receipts	235			412			908			293			220			91
	Below is a summary of payments received from (paid to) related parties as a result of specific transactions between the Company, Olympic, JEX and REX. While these payments are in the ordinary course of business, the Company did not have similar transactions with other well owners (in thousands):
		Three months ended September 30,
		2013									2012
		Olympic			JEX			REX			Olympic			JEX			REX
	Reimbursement of certain costs	$	—		$	(10	)	$	—		$	—		$	(146	)	$	—
	Payments under Contaro Advisory Agreement	—			(30		)	—			—			(667		)	—
	Investment in REX	—			—			(197		)	—			—			—
	REX distribution to members	—			—			—			—			—			323
	As of September 30, 2013 and June 30, 2013, the Company's consolidated balance sheets included the following balances (in thousands):
		30-Sep-13									30-Jun-13
		Olympic			JEX			REX			Olympic			JEX			REX
	Accounts receivable:
	Trade receivables	$	—		$	1		$	—		$	16		$	21		$	—
	Joint interest billings	66			61			151			178			358			922
	Accounts payable:
	Royalties and revenue payable	(1,292		)	(848		)	(416		)	(1,181		)	(881		)	(285		)
Schedule of Oil and Gas Ownership Interests	'
	As of September 30, 2013, Contango, Olympic, JEX, REX and JEX employees owned the following interests in the Company's offshore wells.
		Contango					Olympic				JEX					REX				JEX Employees
		WI		NRI			WI		NRI		WI		NRI			WI		NRI		ORRI
	Dutch #1 - #5	47.05	%	38.12	%		3.02	%	2.42	%	1.61	%	1.29	%		—	%	—	%	2.02%
	Mary Rose #1	53.21	%	40.44	%		3.61	%	2.7	%	2.01	%	1.51	%		—	%	—	%	2.79%
	Mary Rose #2 - #3	53.21	%	38.67	%		3.61	%	2.58	%	2.01	%	1.44	%		—	%	—	%	2.79%
	Mary Rose #4	34.58	%	25.49	%		2.34	%	1.7	%	1.31	%	0.95	%		—	%	—	%	1.82%
	Mary Rose #5	37.8	%	27.88	%		2.56	%	1.87	%	1.43	%	1.04	%		—	%	—	%	1.54%
	Ship Shoal 263	100	%	80	%		—	%	—	%	—	%	—	%		—	%	—	%	3.33%
	Vermilion 170	83.2	%	64.83	%		—	%	—	%	4.3	%	3.35	%		12.5	%	9.74	%	3.33%
	South Timbalier 17 (1)	75	%	53.25	%		—	%	—	%	—	%	—	%		—	%	—	%	—%
	Crosby 12H-1 (2)	22.5	%	16.31	%		—	%	—	%	2.5	%	1.81	%		—	%	—	%	0.63%

Organization_and_Business_Expl

Organization and Business Exploration Expenses (Details) (USD $)	3 Months Ended						1 Months Ended	3 Months Ended	4 Months Ended	18 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2013	Sep. 30, 2013	Sep. 30, 2013	Sep. 30, 2013	Sep. 30, 2013	Oct. 31, 2013	Sep. 30, 2013	Sep. 30, 2013
			South Timbalier 17 [Member]	Vermilion 170 [Member]	Ship Shoal 263 [Member]	Goodrich [Member]	Dutch Number 1 - 5 [Member]	South Timbalier 17 [Member]	South Timbalier 17 [Member]	Tuscaloosa Marine Shale [Member]	After Payout Including our share of REX's ownership [Member]
										acre	South Timbalier 17 [Member]
Organization and Business [Line Items]	'	'	'	'	'	'	'	'	'	'	'
Operating Expenses	$5,553,000	$6,464,000	'	'	'	'	'	'	'	'	'
Exploration Expense	89,000	44,984,000	'	'	'	'	'	'	'	'	'
Payments to Explore and Develop Oil and Gas Properties	11,322,000	17,205,000	'	'	'	'	'	10,300,000	14,800,000	10,300,000	'
Gas and Oil Area, Undeveloped, Net	'	'	'	'	'	'	'	'	'	28,000	'
Working Interests in Oil and Gas Properties	'	'	75.00%	83.20%	100.00%	25.00%	'	'	'	'	59.30%
Net Revenue Interest in Oil and Gas Properties	'	'	53.25%	64.83%	80.00%	'	'	'	'	'	42.10%
Barrels of Oil Produced Per Day	'	'	'	'	'	'	'	'	'	315	'
cumulative barrels of oil produced	'	'	'	'	'	'	'	'	'	116,000	'
Payments to Acquire Oil and Gas Property	'	'	'	'	'	'	$19,000,000	'	'	'	'

Organization_and_Business_Inve

Organization and Business Investment Activity (Details) (USD $)	3 Months Ended			3 Months Ended		1 Months Ended	3 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Jun. 30, 2013	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2013
				Exaro Energy III LLC [Member]	Exaro Energy III LLC [Member]	Alta Energy [Member]	Alta Energy [Member]
						acre	acre
Schedule of Cost-method Investments [Line Items]	'	'	'	'	'	'	'
Payments to Explore and Develop Oil and Gas Properties	$11,322,000	$17,205,000	'	'	'	'	'
Equity Method Investments	'	'	'	'	'	15,200,000	15,200,000
Area of Land	'	'	'	'	'	67,000	67,000
Net Proceeds from Sale of Cost Method Investment	30,800,000	'	'	'	'	23,100,000	'
Cost-method Investments, Realized Gain (Loss), Excluding Other than Temporary Impairments	'	'	'	'	'	'	15,600,000
Accrued Investment Income Receivable	'	'	'	'	'	7,700,000	7,700,000
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures	49,334,000	'	63,123,000	46,900,000	'	'	'
Equity Method Investment, Ownership Percentage	0.00%	'	'	'	'	'	'
Income (Loss) from Equity Method Investments, Net of Tax	669,000	164,000	'	'	'	'	'
Income Tax Expense (Benefit)	$11,519,000	($14,538,000)	'	$360,000	$88,000	'	'

Organization_and_Business_Merg

Organization and Business Merger activity (Details)	Apr. 30, 2013
Business Acquisition [Line Items]	'
Conversion rate for crimson stock	0.08288
Business Acquisition, Percentage of Voting Interests Acquired	20.30%

Summary_of_Significant_Account2

Summary of Significant Accounting Policies (Details) (USD $)	3 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Jun. 30, 2013	Jun. 30, 2012
Significant Accounting Policies [Line Items]	'	'	'	'
Cash and cash equivalents	$137,508,000	$137,784,000	$101,485,000	$129,983,000
Impairment charges, unproved properties	0	8,410,000	'	'
Equity Method Investment, Ownership Percentage	0.00%	'	'	'
Future Investment In Affiliates	67,500,000	'	'	'
Exploration Expense	89,000	44,984,000	'	'
Republic Exploration LLC [Member]	'	'	'	'
Significant Accounting Policies [Line Items]	'	'	'	'
Limited Liability Company (LLC) or Limited Partnership (LP), Members or Limited Partners, Ownership Interest	32.30%	'	'	'
Ship Shoal 263 [Member]	'	'	'	'
Significant Accounting Policies [Line Items]	'	'	'	'
Impairment of Ongoing Project	'	6,300,000	'	'
Eugene Island 24 [Member]	'	'	'	'
Significant Accounting Policies [Line Items]	'	'	'	'
Impairment of Ongoing Project	'	2,100,000	'	'
Ship Shoal 134 and South Timbalier 75 [Member]	'	'	'	'
Significant Accounting Policies [Line Items]	'	'	'	'
Impairment of Ongoing Project	'	6,600,000	'	'
Jim Hogg County, Texas [Member]	'	'	'	'
Significant Accounting Policies [Line Items]	'	'	'	'
Impairment of Ongoing Project	'	$1,200,000	'	'

Concentration_of_Credit_Risk_D

Concentration of Credit Risk (Details)	Sep. 30, 2013
Concentration Risk [Line Items]	'
Number of Months of Potential Revenue Loss	'2 months

Net_Income_Per_Common_Share_Co

Net Income Per Common Share (Components of Basic and Diluted Net Income Per Share of Common Stock) (Details) (USD $)	3 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012
Earnings Per Share [Abstract]	'	'
Income from continuing operations	$19,740	($27,549)
Net income attributable to common stock	$19,740	($27,549)
Weighted Average Shares, Basic	15,195	15,292
Weighted Average Shares, Diluted	15,195	15,292
Earnings per share, Basic (in dollars per share)	$1.30	($1.80)
Earnings per share, Diluted (in dollars per share)	$1.30	($1.80)

Credit_Facility_Details

Credit Facility (Details) (USD $)	1 Months Ended
	Oct. 22, 2010
Debt Instrument [Line Items]	'
LIBOR interest rate description	'Borrowings under the Amegy Credit Agreement bore interest at LIBOR plus 2.5%, subject to a LIBOR floor of 0.75%
Amegy Bank Credit Agreement [Member]	'
Debt Instrument [Line Items]	'
Credit agreement current borrowing capacity	40,000,000
Arrangement fee	300,000
Commitment fee percentage	0.13%

Investment_in_Exaro_Energy_LLC1

Investment in Exaro Energy LLC (Details) (USD $)	3 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Jun. 30, 2013
Schedule of Equity Method Investments [Line Items]	'	'	'
Future Investment In Affiliates	$67,500,000	'	'
Total Investment Commitment In Affiliates With Other Parties	182,500,000	'	'
Equity Method Investment, Ownership Percentage	0.00%	'	'
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures	49,334,000	'	63,123,000
Income (Loss) from Equity Method Investments, Net of Tax	669,000	164,000	'
Income (Loss) from Equity Method Investments	1,030,000	252,000	'
Income Tax Expense (Benefit)	11,519,000	-14,538,000	'
Exaro Energy III LLC [Member]	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures	46,900,000	'	'
Income Tax Expense (Benefit)	$360,000	$88,000	'

Income_Taxes_Effective_Income_

Income Taxes (Effective Income Tax Rate Reconciliation) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012
Income Tax Expense (Benefit), Continuing Operations, Income Tax Reconciliation [Abstract]	'	'
Income Tax Expense (Benefit), Continuing Operations	$11,519	($14,538)

Income_Taxes_Components_of_Inc

Income Taxes (Components of Income Tax Expense Benefit) (Details) (USD $)	3 Months Ended
	Sep. 30, 2013	Sep. 30, 2012
Income Tax Disclosure [Abstract]	'	'
Current Federal Tax Expense (Benefit)	$6,536,000	($7,874,000)
Current State and Local Tax Expense (Benefit)	870,000	568,000
Current Income Tax Expense (Benefit)	7,406,000	-7,306,000
Deferred Federal Income Tax Expense (Benefit)	4,251,000	-7,108,000
Deferred State and Local Income Tax Expense (Benefit)	222,000	-124,000
Deferred Income Tax Expense (Benefit)	4,473,000	-7,232,000
Federal Income Tax Expense (Benefit), Continuing Operations	10,787,000	-14,982,000
State and Local Income Tax Expense (Benefit), Continuing Operations	1,092,000	444,000
Income Tax Expense (Benefit) Total with Exaro Tax Effect	11,879,000	'
Income Tax Expense (Benefit), Continuing Operations	11,519,000	-14,538,000
Exaro Energy III LLC [Member]	'	'
Income Tax Disclosure [Abstract]	'	'
Income Tax Expense (Benefit), Continuing Operations	$360,000	$88,000

Income_Taxes_Net_Deferred_Tax_

Income Taxes (Net Deferred Tax Liability) (Details) (USD $)	Sep. 30, 2013	Jun. 30, 2013
In Thousands, unless otherwise specified
Income Tax Disclosure [Abstract]	'	'
Net deferred tax liability	($120,396)	($115,923)

Related_Party_Transactions_Sch

Related Party Transactions - Schedule of Oil and Gas Ownership Interests (Details) (USD $)	3 Months Ended
	Sep. 30, 2013	Jun. 30, 2013
Related Party Transaction [Line Items]	'	'
Limited Liability Company (LLC) or Limited Partnership (LP), Members or Limited Partners, Ownership Interest by a Third Party	33.30%	'
Prospect Fees	'	$250,000
ERROR in label resolution.	'	'
Related Party Transaction [Line Items]	'	'
Working interests	47.05%	'
Net revenue interest	38.12%	'
ERROR in label resolution. | Olympic [Member]	'	'
Related Party Transaction [Line Items]	'	'
Working interests	3.02%	'
Net revenue interest	2.42%	'
ERROR in label resolution. | Juneau Exploration LLC [Member]	'	'
Related Party Transaction [Line Items]	'	'
Working interests	1.61%	'
Net revenue interest	1.29%	'
ERROR in label resolution. | Republic Exploration LLC [Member]	'	'
Related Party Transaction [Line Items]	'	'
Working interests	0.00%	'
Net revenue interest	0.00%	'
ERROR in label resolution. | JEX Employees [Member]	'	'
Related Party Transaction [Line Items]	'	'
Overriding royalty interest, employee benefit	2.02%	'
ERROR in label resolution.	'	'
Related Party Transaction [Line Items]	'	'
Working interests	53.21%	'
Net revenue interest	40.44%	'
ERROR in label resolution. | Olympic [Member]	'	'
Related Party Transaction [Line Items]	'	'
Working interests	3.61%	'
Net revenue interest	2.70%	'
ERROR in label resolution. | Juneau Exploration LLC [Member]	'	'
Related Party Transaction [Line Items]	'	'
Working interests	2.01%	'
Net revenue interest	1.51%	'
ERROR in label resolution. | Republic Exploration LLC [Member]	'	'
Related Party Transaction [Line Items]	'	'
Working interests	0.00%	'
Net revenue interest	0.00%	'
ERROR in label resolution. | JEX Employees [Member]	'	'
Related Party Transaction [Line Items]	'	'
Overriding royalty interest, employee benefit	2.79%	'
ERROR in label resolution.	'	'
Related Party Transaction [Line Items]	'	'
Working interests	53.21%	'
Net revenue interest	38.67%	'
ERROR in label resolution. | Olympic [Member]	'	'
Related Party Transaction [Line Items]	'	'
Working interests	3.61%	'
Net revenue interest	2.58%	'
ERROR in label resolution. | Juneau Exploration LLC [Member]	'	'
Related Party Transaction [Line Items]	'	'
Working interests	2.01%	'
Net revenue interest	1.44%	'
ERROR in label resolution. | Republic Exploration LLC [Member]	'	'
Related Party Transaction [Line Items]	'	'
Working interests	0.00%	'
Net revenue interest	0.00%	'
ERROR in label resolution. | JEX Employees [Member]	'	'
Related Party Transaction [Line Items]	'	'
Overriding royalty interest, employee benefit	2.79%	'
ERROR in label resolution.	'	'
Related Party Transaction [Line Items]	'	'
Working interests	34.58%	'
Net revenue interest	25.49%	'
ERROR in label resolution. | Olympic [Member]	'	'
Related Party Transaction [Line Items]	'	'
Working interests	2.34%	'
Net revenue interest	1.70%	'
ERROR in label resolution. | Juneau Exploration LLC [Member]	'	'
Related Party Transaction [Line Items]	'	'
Working interests	1.31%	'
Net revenue interest	0.95%	'
ERROR in label resolution. | Republic Exploration LLC [Member]	'	'
Related Party Transaction [Line Items]	'	'
Working interests	0.00%	'
Net revenue interest	0.00%	'
ERROR in label resolution. | JEX Employees [Member]	'	'
Related Party Transaction [Line Items]	'	'
Overriding royalty interest, employee benefit	1.82%	'
Mary Rose Number 5 [Member]	'	'
Related Party Transaction [Line Items]	'	'
Working interests	37.80%	'
Net revenue interest	27.88%	'
Mary Rose Number 5 [Member] | Olympic [Member]	'	'
Related Party Transaction [Line Items]	'	'
Working interests	2.56%	'
Net revenue interest	1.87%	'
Mary Rose Number 5 [Member] | Juneau Exploration LLC [Member]	'	'
Related Party Transaction [Line Items]	'	'
Working interests	1.43%	'
Net revenue interest	1.04%	'
Mary Rose Number 5 [Member] | Republic Exploration LLC [Member]	'	'
Related Party Transaction [Line Items]	'	'
Working interests	0.00%	'
Net revenue interest	0.00%	'
Mary Rose Number 5 [Member] | JEX Employees [Member]	'	'
Related Party Transaction [Line Items]	'	'
Overriding royalty interest, employee benefit	1.54%	'
ERROR in label resolution.	'	'
Related Party Transaction [Line Items]	'	'
Working interests	100.00%	'
Net revenue interest	80.00%	'
ERROR in label resolution. | Olympic [Member]	'	'
Related Party Transaction [Line Items]	'	'
Working interests	0.00%	'
Net revenue interest	0.00%	'
ERROR in label resolution. | Juneau Exploration LLC [Member]	'	'
Related Party Transaction [Line Items]	'	'
Working interests	0.00%	'
Net revenue interest	0.00%	'
ERROR in label resolution. | Republic Exploration LLC [Member]	'	'
Related Party Transaction [Line Items]	'	'
Working interests	0.00%	'
Net revenue interest	0.00%	'
ERROR in label resolution. | JEX Employees [Member]	'	'
Related Party Transaction [Line Items]	'	'
Overriding royalty interest, employee benefit	3.33%	'
Vermilion 170 [Member]	'	'
Related Party Transaction [Line Items]	'	'
Working interests	83.20%	'
Net revenue interest	64.83%	'
Vermilion 170 [Member] | Olympic [Member]	'	'
Related Party Transaction [Line Items]	'	'
Working interests	0.00%	'
Net revenue interest	0.00%	'
Vermilion 170 [Member] | Juneau Exploration LLC [Member]	'	'
Related Party Transaction [Line Items]	'	'
Working interests	4.30%	'
Net revenue interest	3.35%	'
Vermilion 170 [Member] | Republic Exploration LLC [Member]	'	'
Related Party Transaction [Line Items]	'	'
Working interests	12.50%	'
Net revenue interest	9.74%	'
Vermilion 170 [Member] | JEX Employees [Member]	'	'
Related Party Transaction [Line Items]	'	'
Overriding royalty interest, employee benefit	3.33%	'
South Timbalier 17 [Member]	'	'
Related Party Transaction [Line Items]	'	'
Working interests	75.00%	'
Net revenue interest	53.25%	'
Crosby 12H-1 [Member]	'	'
Related Party Transaction [Line Items]	'	'
Working interests	22.50%	'
Net revenue interest	16.31%	'
Crosby 12H-1 [Member] | Juneau Exploration LLC [Member]	'	'
Related Party Transaction [Line Items]	'	'
Working interests	2.50%	'
Net revenue interest	1.81%	'
Crosby 12H-1 [Member] | JEX Employees [Member]	'	'
Related Party Transaction [Line Items]	'	'
Overriding royalty interest, employee benefit	0.63%	'
Maximum [Member] | Contango Offshore Exploration LLC [Member]	'	'
Related Party Transaction [Line Items]	'	'
Overriding royalty interest, employee benefit	3.33%	'
Republic Exploration LLC [Member]	'	'
Related Party Transaction [Line Items]	'	'
Limited Liability Company (LLC) or Limited Partnership (LP), Members or Limited Partners, Ownership Interest	32.30%	'
Republic Exploration LLC [Member] | Juneau Exploration LLC [Member]	'	'
Related Party Transaction [Line Items]	'	'
Limited Liability Company (LLC) or Limited Partnership (LP), Members or Limited Partners, Ownership Interest	34.40%	'
Beginning of Production [Member] | South Timbalier 17 [Member] | Republic Exploration LLC [Member]	'	'
Related Party Transaction [Line Items]	'	'
Working interests	9.40%	'
Net revenue interest	6.70%	'
After Payout [Member] | South Timbalier 17 [Member]	'	'
Related Party Transaction [Line Items]	'	'
Working interests	56.30%	'
Net revenue interest	39.90%	'
Through Production [Member] | Crosby 12H-1 [Member]	'	'
Related Party Transaction [Line Items]	'	'
Working interests	25.00%	'

Related_Party_Transactions_Pay

Related Party Transactions - Payments Recieved from (paid to) JEX and REX during Ordinary Course of Business (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012
Olympic [Member]	'	'
Related Party Transaction [Line Items]	'	'
Revenue payments for ownership in wells	($1,698)	($1,540)
Joint interest billing receipts	235	293
Juneau Exploration LLC [Member]	'	'
Related Party Transaction [Line Items]	'	'
Revenue payments for ownership in wells	-1,254	-1,133
Joint interest billing receipts	412	220
REX [Member]	'	'
Related Party Transaction [Line Items]	'	'
Revenue payments for ownership in wells	-470	-849
Joint interest billing receipts	$908	$91

Related_Party_Transactions_Pay1

Related Party Transactions - Payments Recieved from (paid to) JEX and REX during Specific Transactions (Details) (USD $)	3 Months Ended		12 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Jun. 30, 2012
Olympic [Member]	'	'	'
Related Party Transaction [Line Items]	'	'	'
Reimbursement of certain costs	$0	$0	'
Under advisory agreement dated April 1, 2012	0	'	'
REX [Member]	'	'	'
Related Party Transaction [Line Items]	'	'	'
Reimbursement of certain costs	0	0	'
Under advisory agreement dated April 1, 2012	0	'	'
Distribution Made to Member or Limited Partner, Cash Distributions Paid (Deprecated 2013-01-31)	'	'	-323
Juneau Exploration LLC [Member]	'	'	'
Related Party Transaction [Line Items]	'	'	'
Reimbursement of certain costs	-10	-146	'
Payment under the Advisory Agreement	'	667	'
Payments under the First Rights Agreement	$30	'	'

Related_Party_Transactions_Rel

Related Party Transactions Related Party Transactions - Due to/Due from Affiliates (Details) (USD $)	Sep. 30, 2013	Jun. 30, 2013	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
In Thousands, unless otherwise specified			Juneau Exploration LLC [Member]	Juneau Exploration LLC [Member]	REX [Member]	REX [Member]	Olympic [Member]	Olympic [Member]
Related Party Transaction [Line Items]	'	'	'	'	'	'	'	'
Trade receivable	$29,445	$26,312	$1	$21	$0	$0	$0	$16
Joint interest billing	5,032	4,996	61	358	151	922	66	178
Royalties and revenue payable	$23,240	$21,651	($848)	($881)	($416)	($285)	($1,292)	($1,181)

Related_Party_Transactions_Nar

Related Party Transactions Narrative (Details) (USD $)	3 Months Ended
	Sep. 30, 2013
Related Party Transaction [Line Items]	'
Director Compensation for Related Party	$28,000
Related Party Transaction, Oil and Gas Properties [Abstract]	'
Ownership interest in REX by a third party	33.30%
Juneau Exploration LLC [Member]	'
Related Party Transaction, Oil and Gas Properties [Abstract]	'
Contaro Advisory Agreement payment	$10,000
Percent of Profit earned by Contaro	0.00%
Maximum [Member] | Contango Offshore Exploration LLC [Member]	'
Related Party Transaction, Oil and Gas Properties [Abstract]	'
Overriding royalty interest, employee benefit	3.33%
Ship Shoal 263 [Member]	'
Related Party Transaction, Oil and Gas Properties [Abstract]	'
Working interests	100.00%
Net revenue interest	80.00%
Ship Shoal 263 [Member] | JEX Employees [Member]	'
Related Party Transaction, Oil and Gas Properties [Abstract]	'
Overriding royalty interest, employee benefit	3.33%
Ship Shoal 263 [Member] | Juneau Exploration LLC [Member]	'
Related Party Transaction, Oil and Gas Properties [Abstract]	'
Working interests	0.00%
Net revenue interest	0.00%
Vermilion 170 [Member]	'
Related Party Transaction, Oil and Gas Properties [Abstract]	'
Working interests	83.20%
Net revenue interest	64.83%
Vermilion 170 [Member] | JEX Employees [Member]	'
Related Party Transaction, Oil and Gas Properties [Abstract]	'
Overriding royalty interest, employee benefit	3.33%
Vermilion 170 [Member] | Juneau Exploration LLC [Member]	'
Related Party Transaction, Oil and Gas Properties [Abstract]	'
Working interests	4.30%
Net revenue interest	3.35%
Mary Rose Number 5 [Member]	'
Related Party Transaction, Oil and Gas Properties [Abstract]	'
Working interests	37.80%
Net revenue interest	27.88%
Mary Rose Number 5 [Member] | JEX Employees [Member]	'
Related Party Transaction, Oil and Gas Properties [Abstract]	'
Overriding royalty interest, employee benefit	1.54%
Mary Rose Number 5 [Member] | Juneau Exploration LLC [Member]	'
Related Party Transaction, Oil and Gas Properties [Abstract]	'
Working interests	1.43%
Net revenue interest	1.04%
REX [Member]	'
Related Party Transaction, Oil and Gas Properties [Abstract]	'
Ownership interest in REX by related parties	32.30%
REX [Member] | Juneau Exploration LLC [Member]	'
Related Party Transaction, Oil and Gas Properties [Abstract]	'
Ownership interest in REX by related parties	34.40%

Subsequent_Events_Details

Subsequent Events (Details) (USD $)

1 Months Ended

3 Months Ended

1 Months Ended

3 Months Ended

5 Months Ended

3 Months Ended

1 Months Ended

Oct. 31, 2013

Sep. 30, 2013

Sep. 30, 2012

Oct. 01, 2013

Jun. 30, 2013

Apr. 30, 2013

Oct. 01, 2013

Oct. 01, 2013

Oct. 31, 2013

Oct. 01, 2013

Oct. 22, 2010

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Sep. 30, 2013

Crimson Barclay's Debt [Member]

Crimson's Wells Fargo Debt [Member] [Member]

RBC Credit Facility [Member]

RBC Credit Facility [Member]

Amegy Bank Credit Agreement [Member]

Petrie Partners [Member]

Petrie Partners [Member]

Crimson [Member]

BARCLAY'S ATS [Member]

Dutch Number 1 - 5 [Member]

Subsequent Event [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Stock Issued During Period, Shares, Acquisitions

3,900,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Noncash or Part Noncash Acquisition, Debt Assumed

$235,400,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Stock Options Issued pursuant to acquisition

135,898

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Line of Credit Facility, Maximum Borrowing Capacity

'

'

'

'

'

'

'

'

'

500,000,000

40,000,000

'

'

'

'

'

Line of Credit Facility, Current Borrowing Capacity

'

'

'

'

'

'

'

'

'

275,000,000

'

'

'

'

'

'

Debt Instrument, Fee Amount

'

'

'

'

'

'

'

'

'

2,200,000

'

'

'

'

'

'

Common Stock, Shares, Outstanding

'

15,194,952

'

'

15,194,952

'

'

'

'

'

'

'

'

'

'

'

Payments to explore and develop oil and gas properties

'

11,322,000

17,205,000

'

'

'

'

'

'

'

'

'

'

'

'

'

Conversion rate for crimson stock

'

'

'

'

'

0.08288

'

'

'

'

'

'

'

'

'

'

Long-term Debt

'

'

'

'

'

'

175,000,000

58,600,000

'

'

'

'

'

'

'

'

Accrued Interest and Pre-payment Penalty

'

'

'

1,800,000

'

'

'

'

'

'

'

'

'

'

'

'

Exploration expenses

'

0

44,832,000

'

'

'

'

'

'

'

'

'

'

'

'

'

Common Stock, Par or Stated Value Per Share

'

$0.04

'

'

$0.04

'

'

'

'

'

'

'

'

'

'

'

Repayments of Long-term Debt

127,600,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Proceeds from (Repayments of) Lines of Credit

'

'

'

'

'

'

'

'

110,000,000

'

'

'

'

'

'

'

Business Combination, Acquisition Related Costs

'

'

'

'

'

'

'

'

'

'

'

1,700,000

2,800,000

'

2,800,000

'

Derivative, Fair Value, Net

'

'

'

'

'

'

'

'

'

'

'

'

'

300,000

'

'

Payments to Acquire Oil and Gas Property

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$19,000,000