Midstates Petroleum Announces Closing of Sale of Anadarko Basin Producing Properties
Midstates Petroleum Company, Inc. (“Midstates” or the “Company”) (NYSE:
MPO) today announced the closing of the previously announced sale of its
Anadarko Basin producing properties located in the Texas panhandle and
western Oklahoma for $58 million. The net proceeds were approximately
$54 million, subject to standard post-closing adjustments. The proceeds
will be used to pay down a portion of the outstanding borrowings under
the Company’s revolving credit facility and for general corporate
purposes.
SunTrust Robinson Humphrey acted as advisor to the Company on this
transaction.
About Midstates Petroleum Company, Inc.
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.
The Company’s operations are currently focused on the oilfield in the
Mississippian Lime play in Oklahoma.
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Copyright Business Wire 2018
Source: Business Wire
(June 5, 2018 - 6:00 AM EDT)
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