Exploration & Production | Quarterly / Earnings Reports | Fourth Quarter (4Q) Update
Mid-Con Sees Upswing in Production, Reserves at Year-End 2013
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Mid-Con Energy Partners, LP has reported financial and operating results for the fourth quarter and full year ended December 31, 2013.
Highlights: Increased production approximately 33% to 2,542 barrels of oil equivalent (Boe) per day on average in 2013 from 1,907 Boe per day on average in 2012. Furthermore, production in the fourth quarter of 2013 was 2,543 Boe per day on average. Increased estimated net proved reserves approximately 6% to 13.9 million Boe (MMBoe) (98% Oil / 76% Proved Developed) at December 31, 2013 compared to 13.1 MMBoe (99% Oil / 67% Proved Developed) at December 31, 2012. Increased Adjusted EBITDA approximately 26% to $60.0 million in 2013, up $12.3 million from $47.7 million in 2012. Significant Events: Increased the quarterly distribution rate approximately 4%…Finish this article — free account or subscription
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