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News Breaks
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.
News For MCEP From The Last 14 Days
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December 17, 2014
16:36 EDTMCEPMid-Con Energy downgraded to Sector Perform from Outperform at RBC Capital
RBC Capital downgraded Mid-Con Energy to Sector Perform with a $9 price target.
December 16, 2014
07:23 EDTMCEPMid-Con Energy downgraded to Neutral from Outperform at RW Baird
Baird slashed upstream MLP estimates across the board given the collapse in crude oil prices. The firm believes upstream MLPs will be forced to cut distributions based on when debt covenants are tripped if oil prices do not rally. Baird expects the new oil paradigm to last for the foreseeable future and downgraded Mid-Con Energy to Neutral and lowered its price target to $5 from $18.
December 15, 2014
11:04 EDTMCEPEnergy MLPs downgraded at Oppenheimer
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10:59 EDTMCEPMid-Con Energy downgraded to Perform from Outperform at Oppenheimer
December 12, 2014
15:24 EDTMCEPMid-Con Energy director Robert Berry buys 10K shares
Mid-Con Energy director Robert Berry acquired 10,000 units in multiple transactions at prices ranging from about $6.68 to $6.70 on Dec. 11, according to a regulatory filing.
December 8, 2014
11:44 EDTMCEPBreitBurn Energy, Legacy Reserves, Mid-Con Energy downgraded at Wells Fargo
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11:36 EDTMCEPMid-Con Energy downgraded to Market Perform from Outperform at Wells Fargo
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