Quarterly / Earnings Reports | Capital Markets | Private Equity Activity
Midstates Spuds Arsenal of MissLime, Wilcox Wells in Q1
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Midstates Petroleum Company Inc. reported its financial and operating results for the three months ended March 31, 2013.
Key points include: Adjusted EBITDA totaled $56.5 million, up 16% from $48.6 million in the fourth quarter of 2012. Adjusted Net Income totaled $1.4 million. Average production for the quarter was on track to achieve the top end of guidance of 17,300 barrels of oil equivalent (Boe) per day until snowstorms in Oklahoma shut in production, costing the quarter about 1,100 Boe per day. Average daily production for first quarter 2013 rose to 16,208 net Boe per day from 15,592 net Boe per day in the fourth quarter of 2012. Cash Operating Expenses were $20.29 per Boe, flat with $20.26 per Boe in the fourth quarter of 2012. The Wood 10H-1 well in North Cowards Gully reached a…Finish this article — free account or subscription
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