Mark E. Eck, Executive Vice President and Chief Operating Officer of Midstates Petroleum Company, Inc. (NYSE: MPO), presented today at EnerCom’s The Oil & Gas Conference 20®.
Midstates Petroleum Company, Inc. is an independent exploration and production company focused on the application of modern drilling and completion techniques in oil and liquids-rich basins in the onshore U.S. Midstates’ drilling and completion efforts are currently focused in the Mississippian Lime oil play in Oklahoma and Anadarko Basin in Texas and Oklahoma. Midstates Petroleum is headquartered in Tulsa, Oklahoma.
In its Q2’15 report, the company produced an average of 33,893 BOEPD and increased its full year production guidance to a midpoint of 32,500 BOEPD. Mississippian Lime production reached a record high of 27,209 BOEPD and maintained returns of greater than 30%
During the company’s breakout session, management was asked the following questions:
- Talk a little bit about the return you showing on the graphs here, what happened in the last two months since you run these strips. Do you believe you can develop more consistency with those kinds of return?
- Do you see your AFEs coming down any further? Will that factor into your 3D seismic shoots?
- What is the most appealing aspect of the Mississippian Lime? How will that be used to drive your progress moving forward?
- What is your hedge position going forward and have you had any preliminary discussions with your banks?
- Has the state of Oklahoma’s position with saltwater disposal impacted your business at all?
- What constitutes how you set your pressure build?
Click here for the presentation.
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