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One-Page Deal Sheet

Midstates Drops Louisiana Dequincy Assets for $44 Million

Pintail Oil and Gas, LLC Midstates Petroleum
AnnouncedMar 10, 2015
TypeProperty
Announced Date
March 10,2015
Effective Date
March 01,2015
Close Date
April 22,2015
Transaction Type
Property
Enterprise Value (EV)($MM)
44




Snapshot
Asset/Basin:
{"Gulf Coast"}
Net Acres
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Location
Region
Gulf Coast

Country
United States

State
Louisiana

County
Calcasieu

Production
Production
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Calculated Metrics( EV/Category)
$/ Flowing
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$/ Acre
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Transaction Details:  Require Private Equity Subscription

Closing Announcement - April 22, 2015

Midstates Petroleum Company, Inc. reported the closing of the previously announced sale of ownership interest in developed and undeveloped acreage in the Dequincy area located in Beauregard and Calcasieu Parishes, Louisiana for $44 million to Pintail Oil and Gas LLC.

The net proceeds were approximately $42 million, which was net of customary closing adjustments. The proceeds from the sale will be used to pay down a portion of the outstanding borrowings under the Company’s revolving credit facility and for general corporate purposes.

Initial Announcement…

Source : Require Private Equity Subscription

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Price History


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