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MissLime E&P IDs 2017 Budget of $95MM; 24-26 Wells Planned
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Midstates detailed its 2017 outlook as well as its Q4 2016 results.
2017 BudgetThe Company has adopted a 2017 capital budget of $90 to $100 million (-18% lower than its $116MM 2016 budget) based upon a near term one rig drilling program focused solely in the Mississippian Lime.
Midstates currently plans to drill 24 to 26 wells during the year.
The Company expects to fully fund the 2017 capital expenditure budget with internally-generated cash flow and currently available cash.
Fourth Quarter 2016 and Recent Highlights: Reported strong liquidity of $77 million and net debt of $51 million at year-end 2016 Announced year-end 2016 proved reserves of 177.0 million barrels of oil equivalent (MMBoe), with approximately 35% oil; utilizing February 6, 2017 strip pricing, the Company's year-end…- ✓ Full news archive — U.S., Canada & international coverage
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