Midstates Petroleum Breakout Notes
Jason McGlynn, director of strategic planning, investor relations and the treasury of Midstates Petroleum Company, Inc., (ticker: MPO) presented today at EnerCom’s The Oil & Gas Conference® 22.
Midstates Petroleum, headquartered in Tulsa, OK, is an E&P company with primary operations in the Mississippian Lime, in Oklahoma, and the Anadarko basin, in both Oklahoma and Texas. The majority of the company’s production comes from its Miss Lime assets.
The company’s production for Q2 was 22,490 BOEPD—81% of which came out of the Miss Lime assets. During the quarter, the company sold non-core assets in Lincoln County, Oklahoma for $7.0 million, and engaged Suntrust Robinson Humphrey to explore strategic alternatives for its Anadarko and NW STACK acreage—with the intent of transitioning towards a Miss Lime pure-play company.
During the company’s breakout session, management was asked the following questions:
- About how much of the 2.6 million for wells is water handling costs?
- How much does acreage sell for?
- Have you looked at any Drill CO deals?
- Has earthquake activity effected any of your operations
- On a two rig program, how much could you improve if you changed the number of rigs?
- How many wells are included in the PUD inventory?
Midstates Petroleum presented at EnerCom’s 2017 The Oil & Gas Conference®.
You can listen to the company’s presentation by clicking here.
