Key Developments: Midstates Petroleum Company Inc (MPO.N)
5.79USD
2 Aug 2013
$-0.02 (-0.34%)
$5.81
$5.81
$5.83
$5.79
3,397
101,107
$9.23
$4.77
Latest Key Developments (Source: Significant Developments)
Midstates Petroleum Company Inc Announces Pricing Of $700 Million Private Placement Of 9.25% Senior Notes Due 2021
Midstates Petroleum Company Inc and its wholly-owned subsidiary Midstates Petroleum Company LLC announced the pricing of $700 million in aggregate principal amount of 9.25% senior unsecured notes due 2021 (the Notes) in a private placement under Rule 144A and Regulation S of the Securities Act of 1933, as amended (the Securities Act), to eligible purchasers. The Notes mature on June 1, 2021 and will be issued at 100%. The Company intends to use the net proceeds from the private placement to fund the purchase price of the Company`s previously announced acquisition of producing properties and undeveloped acreage in the Anadarko Basin in Texas and Oklahoma from Panther Energy Company, LLC and its partners (the "Panther Acquisition"). The remaining proceeds will be used to repay a portion of the outstanding borrowings under the Company`s revolving credit facility, for general corporate purposes and to pay expenses related to the Panther Acquisition, the notes offering and the Company`s entry into an amendment to its revolving credit facility. Full Article
Midstates Petroleum Company Inc Announces $700 Million Private Placement of Senior Notes Due 2021
Midstates Petroleum Company Inc and its wholly owned subsidiary Midstates Petroleum Company LLC announced today that, subject to market conditions, they intend to offer for sale $700 million in aggregate principal amount of senior unsecured notes due 2021 in a private placement under Rule 144A and Regulation S of the Securities Act of 1933, as amended (the "Securities Act"), to eligible purchasers. The Company intends to use the net proceeds from the private placement to fund the cash portion of the purchase price of the Company`s previously announced acquisition of producing properties and undeveloped acreage in the Anadarko Basin in Texas and Oklahoma from Panther Energy Company, LLC and its partners (the "Panther Acquisition"). The remaining proceeds will be used to repay a portion of the outstanding borrowings under the Company`s revolving credit facility, for general corporate purposes and to pay expenses related to the Panther Acquisition, the notes offering and the Company`s entry into an amendment to its revolving credit facility. The Panther Acquisition is expected to close on or about May 31, 2013, subject to customary closing conditions. The private placement is not a condition to the closing of the Panther Acquisition. Full Article
Midstates Petroleum Company Inc Reaffirms FY 2013 Production Guidance
Midstates Petroleum Company Inc announced that the Company remains on target to achieve fiscal 2013 production guidance of 24,000 to 26,000 Boe per day. Full Article
Midstates Petroleum Company Inc Announces Chairman Change-Form 8-K
Midstates Petroleum Company Inc reported in its Form 8-K that on February 23, 2013, Stephen J. McDaniel, Chairman of the Board, notified the Board of his desire to step down as Chairman due to competing commitments on his time. On February 26, 2013, the Board of Directors agreed to Mr. McDaniel’s request and appointed John A. Crum, the Company’s President and Chief Executive Officer (CEO) and Director to the additional role of Chairman of the Board, effective immediately. The Board also announced that Mr. McDaniel, the founder of the Company, will continue to serve as a member of the Board. Full Article
Midstates Petroleum Company Inc Reaffirms FY 2013 Production Guidance
Midstates Petroleum Company Inc reaffirmed its fiscal 2013 production guidance of 20,000 to 23,000 net Boe per day as well as capital budget guidance of $400 to $450 million Full Article
Midstates Petroleum Company Inc Announces Closing Of Eagle Energy Properties And $600 Million Private Placement Of 10.75% Senior Notes Due 2020
Midstates Petroleum Company Inc and its wholly owned subsidiary Midstates Petroleum Company LLC (Midstates Sub) announced the closing of their previously announced acquisition of all of Eagle Energy Production, LLC’s producing properties as well as their developed and undeveloped acreage primarily in the Mississippian Lime oil play in Oklahoma and Kansas for $325 million in cash and 325,000 shares of Midstates’ Series A Preferred Stock with an initial liquidation preference value of $1,000 per share (the Eagle Energy Acquisition). The Company and Midstates Sub also announced the closing of their private placement under Rule 144A and Regulation S of the Securities Act of 1933, as amended (the Securities Act), of $600 million in aggregate principal amount of 10.75% senior unsecured notes (the Notes). The Notes mature on October 1, 2020 and were issued at 100% of face value. The net proceeds from the Notes offering were used to finance the cash portion of the purchase price of the Eagle Energy Acquisition, to repay outstanding borrowings under the Company’s revolving credit facility, to pay the expenses related to the Eagle Energy Acquisition, the offering of the Notes and the related amendments to the Company’s revolving credit facility, and for general corporate purposes. Full Article
Midstates Petroleum Company Inc Announces Pricing of Upsized $600 Million Private Placement of 10.75% Senior Notes Due 2020
Midstates Petroleum Company Inc and its wholly owned subsidiary Midstates Petroleum Company LLC announced the pricing of their private placement under Rule 144A and Regulation S of the Securities Act of 1933, as amended (the “Securities Act”), to eligible purchasers of $600 million in aggregate principal amount of 10.75% senior unsecured notes due 2020 (the “Notes”). The Notes mature on October 1, 2020 and will be issued at 100%. The Company intends to use the net proceeds from the private placement to fund the cash portion of the purchase price of the Company’s previously announced acquisition of Eagle Energy Production, LLC assets (the Eagle Energy Acquisition) and expenses related to the Eagle Energy Acquisition, the private placement and entry into an amendment to the Company’s revolving credit facility, to repay outstanding borrowings under the Company’s revolving credit facility and for general corporate purposes. The offering of the Notes is expected to close on October 1, 2012, concurrently with the closing of the Eagle Energy Acquisition. If the Eagle Energy Acquisition does not close on October 1, 2012, the net proceeds from the offering will be deposited into an escrow account pending completion of the Eagle Energy Acquisition. Full Article
Midstates Petroleum Company Inc Announces $550 Million Private Placement Of Senior Notes Due 2020
Midstates Petroleum Company Inc and its wholly owned subsidiary Midstates Petroleum Company LLC announced that, subject to market conditions, they intend to offer for sale in a private placement under Rule 144A and Regulation S of the Securities Act of 1933, as amended (the “Securities Act”), to eligible purchasers $550 million in aggregate principal amount of senior unsecured notes due 2020. The Company intends to use the net proceeds from the private placement to fund the cash portion of the purchase price of the Company’s previously announced acquisition of Eagle Energy Production, LLC assets (the “Eagle Energy Acquisition”) and expenses related to the Eagle Energy Acquisition, the private placement and entry into an amendment to the Company’s revolving credit facility, to repay a portion of the outstanding borrowings under the Company’s revolving credit facility and for general corporate purposes. The Eagle Energy Acquisition is expected to close on or about October 1, 2012. The private placement is not a condition to the closing of the Eagle Energy Acquisition. Full Article
Midstates Petroleum Company Inc Issues Q3 2012 Production Guidance-Conference Call
Midstates Petroleum Company Inc announced for the third quarter of 2012, it expects standalone production to range between 8100 and 8500 BOEs per day. Full Article
Midstates Petroleum Company Inc To Acquire Mississippian Lime Properties
Midstates Petroleum Company Inc announced that it has entered into an Asset Purchase Agreement with Eagle Energy Production, LLC, a private exploration and production company sponsored by Riverstone Holdings, LLC to acquire all of their producing properties as well as their developed and undeveloped acreage primarily in the Mississippian Lime oil play in Oklahoma and Kansas for $325 million in cash and 325,000 shares of Series A Preferred Stock of Midstates with an initial liquidation preference value of $1,000 per share. The transaction will be effective June 1, 2012 and closing is expected on or about October 1, 2012. Full Article
UPDATE 1-Midstates to buy Anadarko Basin assets for $620 mln
* Deal to immediately add to cash flow per share, earnings

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