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Stock Market & Financial Investment News

News Breaks
March 3, 2014
08:50 EDTMCEPMid-Con Energy acquires oil properties from Mid-Con Energy III for $41M
Mid-Con Energy Partners through its wholly owned subsidiary, Mid-Con Energy Properties, announced it acquired certain oil properties in Oklahoma and Texas from Mid-Con Energy III for an aggregate purchase price of approximately $41M. The transaction closed on Friday, February 28 and is subject to customary post-closing adjustments based on an effective date of January 1. Terms of the transaction were approved on February 28, by the board of the general partner of MCEP and by the board's conflicts committee, which is composed entirely of independent directors.
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July 24, 2014
19:45 EDTMCEPMid-Con Energy acquires Oilton Field for $56.5M in stock and cash
Mid-Con Energy Partners, through its wholly owned subsidiary, Mid-Con Energy Properties, announced that it has entered into a definitive agreement to acquire net proved reserves estimated at 2.6M barrels of oil equivalent for an aggregate purchase price of approximately $56.5M, subject to customary post-closing adjustments. The acquisition, expected to close and become effective on August 5, will be funded with approximately 2.2M units of MCEP stock and $4.5M in cash. The acquired position, the Oilton Field, is a mature asset producing from a large anticline structure underlying acreage in Creek County, OK. Mid-Con Energy will acquire operatorship in Oilton along with an approximate 97% net working interest.

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