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Midstates IPs 112 Wells in 2013; Maintains 5-Rig Programs in MissLime, Anadarko
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Midstates Petroleum Company, Inc. has reported its fourth quarter and full year 2013 financial and operating results and increased its 2014 production guidance.
The Company also disclosed it has executed a Purchase and Sale Agreement for the sale of the Pine Prairie portion of its Gulf Coast assets and secured commitments for a new revised lending structure that together will provide sufficient funds for all needs through 2015 without further capital raises. Midstates also announced year-end 2013 proved reserves and related costs.
Highlights: Executed a PSA for the sale of the Pine Prairie portion of its Gulf Coast properties for $170 million Received commitments for a revolving credit facility with a borrowing base of $475 million secured solely by its Midcontinent properties Arranged a…Finish this article — free account or subscription
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