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Midstates Sees 141% Jump in Reserves YOY; 177 MMBOE

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   |    Wednesday,February 15,2017

Midstates Petroleum detailed its year-end reserves.

Proved Reserves

Midstates' estimated proved reserves for year-end 2016 totaled 177.0 MMBOE, up 141% from 73.5 MMBoe at year-end 2015.

The Company's year-end 2016 reserves consisted of 69.6 MMBoe of proved developed reserves and 107.4 MMBoe of proved undeveloped reserves. Total proved reserves were comprised of 35% oil, 21% NGLs, and 44% natural gas. Geographically, 96% are in the Mississippian (which includes the Mississippian Lime and Hunton properties in Oklahoma) and 4% are in the Anadarko Basin in Oklahoma and Texas.

At year-end 2016, Midstates' proved reserves, as prepared utilizing SEC pricing, had a net present value discounted at 10% (PV10) of $578.2 million. The Company's estimated reserves at year-end 2016 were based on the average oil, NGL, and natural gas prices for each month, which were $42.75 per barrel (Bbl), $15.31 per Bbl, and $2.48 per million BTUs, compared to $50.28 per Bbl, $17.44 per Bbl, and $2.59 per million BTUs, respectively, for 2015.

Utilizing February 6, 2017 strip pricing, the Company's year-end 2016 proved reserves had a PV10 of approximately $1.1 billion.



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