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Midstates Taps/Max's Out It's Credit Facility; Draws $242 Million
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Midstates Petroleum today filed documents outlining that the company has tapped/borrowed the remainder of its credit facility.
The company borrowed $249.2 million, which would bring the company's cash balance to $335.7 million.
These are normally tell tale signs of what is to come for Midstates, most likely the company is preparing for the rough road again which might include bankruptcy.
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