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March 5, 2014
10:37 EDTEGY, EPM, MPO, SFYMidstates Petroleum rises after earnings delayed for 'positive' developments
Shares of Midstates Petroleum (MPO) are increasing after the company rescheduled its fourth quarter earnings release, citing positive developments in its discussions with its banks. WHAT'S NEW: Midstates Petroleum announced last night that the company has rescheduled its fourth quarter earnings release to Tuesday, March 11 after the close of trading from Tuesday, March 4. Midstates noted that, as previously disclosed, the company is pursuing "a number of different options to streamline its portfolio," including sales of assets, joint ventures, and other possible farm-out arrangements. The company said it is in discussions with its commercial banking group to modify its debt structure to facilitate implementing such actions and Midstates added that it will discuss these "positive developments" during its rescheduled conference call. The actions currently in progress do not include additional equity or long-term debt issuance, Midstates noted. PRICE ACTION: During mid-morning trading, shares of Midstates Petroleum rose 49c, or 10.77%, to $5.04. OTHERS TO WATCH: Oil and gas exploration and production companies with market capitalization similar to Midstates Petroleum include Evolution Petroleum (EPM), Swift Energy (SFY), and VAALCO Energy (EGY).
News For MPO;EPM;SFY;EGY From The Last 14 Days
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March 30, 2015
19:12 EDTEPMEvolution Petroleum provides litigation update
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19:10 EDTEPMEvolution Petroleum provides operations update
As previously projected, the operator of the Delhi Field has decreased CO2 purchases to a February rate of approximately 101M cubic feet per day, MMCFD, from the temporary surge to approximately 125 MMCFD in the latter months of calendar 2014. The surge in CO2 purchases was intended to partially restore reservoir pressure to optimize oil recovery. Since the purchase of CO2 is the largest operating cost for the field, the reduction in the recurring level of purchases should significantly reduce operating expense going forward until the natural gas liquids plant is brought on line and the enhanced oil recovery project is expanded further into the eastern half of the field.
16:26 EDTEGYVAALCO Energy provides update on operations offshore Angola
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March 25, 2015
07:04 EDTMPOMidstates Petroleum reaffirms $525M revolving credit facility, expands covenant
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