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Mid-Con Reports Drop in Proved Reserves; Talks 4Q15 Results
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Mid-Con Energy Partners, LP announces financial and operating results for the fourth quarter and full year ended December 31, 2015.
Jeff Olmstead, President and CEO, said: "Market conditions in 2015 were humbling for everyone in the oil business, Mid-Con Energy included. I would like to acknowledge the operational success our team delivered during 2015 in spite of the challenging oil price environment. On a limited capital budget we increased 2015 production 3% over the December 2014 monthly average. Full year 2015 per Boe lease operating expenses and general and administrative expenses decreased 15% and 56% year-over-year, respectively. Cash operating expenses consisting of LOE, cash G&A and cash interest expenses, or break-even costs, were $28.72/Boe during the year, and $27.90/Boe…
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