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The company has more than $1.6 billion in debt. The company has already missed its March 1, 2016 payments.
The Mississippi Lime is emerging as one of the top new horizontal plays in the United States. Initially a vertical play, horizontal techniques have increased interest in the area. Production varies significantly from one operator to the next. Well design is the biggest variable, but we need more results to give consistent averages.
Source : Midstates Petroleum / Petroleum Research.org