Current MPO Stock Info

Midstates Petroleum Company’s (ticker: MPO) borrowing base under its revolving credit facility has been reaffirmed at $170 million as part of its regular semiannual review, the company said.

Midstates’ operations are currently focused on oilfields in the Mississippian Lime play in Oklahoma and the Anadarko basin in Texas and Oklahoma. Excluded from the agreement with its bank group are its Anadarko basin assets in Texas and Oklahoma, the company reported. “By excluding the Anadarko Basin assets, we can focus on several strategic options with the Anadarko assets that will not impact our borrowing base,” Midstates CEO David Sambrooks said.

Midstates currently has approximately $128 million drawn under its credit facility, resulting in net debt of approximately $55 million as of October 31, 2017. The next scheduled borrowing base redetermination will occur on or about April 1, 2018, the company said in a statement.

Midstates Petroleum: Borrowing Base Reaffirmed at $170 Million - Sans Anadarko Basin Assets

Source: Midstates Petroleum July 2017 presentation

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