Reuters logo
Midstates to buy Anadarko Basin oil and gas assets for $620 mln
April 4, 2013 / 10:26 AM / 5 years ago

Midstates to buy Anadarko Basin oil and gas assets for $620 mln

April 4 (Reuters) - Midstates Petroleum Co Inc said it will buy oil and gas acreage in the Anadarko Basin in Texas and Oklahoma from Panther Energy LLC and its partners Red Willow Mid-Continent LLC and LINN Energy Holdings LLC for $620 million in cash.

“(The deal) increases our year-end 2012 proved reserves by almost 50 percent, grows our fourth-quarter production by over 50 percent, and nearly doubles our active gross well count,” Midstates Chief Executive John Crum said in a statement.

The deal is expected to close by May 31.

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below