Operational Updates | Capital Markets | Private Equity Activity
Midstates Petroleum Details Mississippi Lime Projects; Q3 Activity
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Midstates Petroleum Company, Inc. has reported its financial and operating results for the three months ended September 30, 2012.
Midstates’ third quarter results featured increased production led by a 13% uplift in oil and a highly successful first horizontal Wilcox completion at North Cowards Gully, which has averaged over 1,400 gross barrels of oil equivalent (Boe) per day since first production on September 15, 2012. The Company indicated that third quarter results do not reflect any impact from the Eagle Energy Acquisition which closed October 1, 2012.
Key points for the three months ended September 30, 2012 include:
• Adjusted EBITDA totaled $32.7 million.
•Adjusted Net Income (which excludes unrealized gains/losses on derivatives and the related income tax effect) totaled $0.1…
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