Edition:
United States

Midstates Petroleum Company Inc (MPO)

MPO on New York Consolidated

7.50USD
24 May 2019
Change (% chg)

$-0.08 (-1.06%)
Prev Close
$7.58
Open
$7.63
Day's High
$7.64
Day's Low
$7.32
Volume
150,256
Avg. Vol
256,509
52-wk High
$14.84
52-wk Low
$6.22

Latest Key Developments (Source: Significant Developments)

Midstates Petroleum Announces Q1 Loss Per Share $0.78
Friday, 10 May 2019 07:00am EDT 

May 10 (Reuters) - Midstates Petroleum Company Inc ::MIDSTATES PETROLEUM ANNOUNCES FIRST QUARTER 2019 RESULTS.Q1 LOSS PER SHARE $0.78.ACHIEVED PRODUCTION OF 13,239 BARRELS OF OIL EQUIVALENT PER DAY FOR Q1 2019, DOWN QUARTER-OVER-QUARTER.QTRLY TOTAL REVENUES $22.1 MILLION VERSUS $48.9 MILLION.Q1 EARNINGS PER SHARE VIEW $0.71, REVENUE VIEW -- REFINITIV IBES DATA.  Full Article

Amplify Energy And Midstates Petroleum Announce Merger-Of-Equals
Monday, 6 May 2019 07:01am EDT 

May 6 (Reuters) - Amplify Energy Corp ::AMPLIFY ENERGY AND MIDSTATES PETROLEUM ANNOUNCE MERGER-OF-EQUALS.AMPLIFY ENERGY CORP - AMPLIFY STOCKHOLDERS WILL RECEIVE 0.933 SHARES OF NEWLY ISSUED MIDSTATES COMMON STOCK FOR EACH AMPLIFY SHARE OF COMMON STOCK.AMPLIFY ENERGY - ENTERED INTO DEFINITIVE MERGER AGREEMENT PURSUANT TO WHICH AMPLIFY TO MERGE WITH UNIT OF MIDSTATES IN AN ALL-STOCK MERGER-OF-EQUALS..AMPLIFY ENERGY CORP - COMBINED COMPANY WILL BE HEADQUARTERED IN HOUSTON AND TRADE ON NYSE UNDER TICKER AMPY.AMPLIFY ENERGY CORP - AMPLIFY'S PRESIDENT AND CHIEF EXECUTIVE OFFICER KEN MARIANI WILL LEAD COMBINED COMPANY.AMPLIFY ENERGY - NEW BOARD OF DIRECTORS OF COMBINE CO WILL INCLUDE MEMBERS WHO CURRENTLY SERVE ON AMPLIFY AND MIDSTATES BOARDS.AMPLIFY ENERGY CORP - DEAL FOR PRO FORMA TOTAL ENTERPRISE VALUE >$720 MILLION.AMPLIFY ENERGY CORP - DEAL FOR MERGER AGREEMENT WAS UNANIMOUSLY APPROVED BY PARTICIPATING DIRECTORS OF BOTH BOARDS.  Full Article

Midstates Petroleum Announces Fourth Quarter And Full Year 2018 Results
Wednesday, 13 Mar 2019 04:30pm EDT 

March 13 (Reuters) - Midstates Petroleum Company Inc ::MIDSTATES PETROLEUM ANNOUNCES FOURTH QUARTER AND FULL YEAR 2018 RESULTS.Q4 EARNINGS PER SHARE $1.38.INITIATED A PROCESS PURSUING ALL STRATEGIC AND OPPORTUNISTIC TRANSACTIONS THAT CREATE SIGNIFICANT SHAREHOLDER VALUE.COMPLETED WORKFORCE REDUCTION IN JANUARY 2019.PRODUCTION DURING Q4 OF 2018 TOTALED 16,351 BOEPD, COMPARED WITH 17,996 BOEPD DURING Q3 OF 2018.TOTAL OIL, NGLS AND NATURAL GAS REVENUES IN Q4 OF 2018 WERE APPROXIMATELY $43.2 MILLION VERSUS $53.0 MILLION IN Q3 OF 2018.RETAINED HOULIHAN LOKEY INC AS FINANCIAL ADVISOR TO PURSUE ALL STRATEGIC AND OPPORTUNISTIC TRANSACTIONS.QTRLY TOTAL REVENUES $69.6 MILLION VERSUS $53.3 MILLION.  Full Article

Midstates Petroleum Announces Second Amendment To Senior Secured Credit Agreement
Wednesday, 21 Nov 2018 04:30pm EST 

Nov 21 (Reuters) - Midstates Petroleum Company Inc ::MIDSTATES PETROLEUM ANNOUNCES SECOND AMENDMENT TO SENIOR SECURED CREDIT AGREEMENT.MIDSTATES PETROLEUM COMPANY INC - AMENDED ITS SENIOR SECURED CREDIT AGREEMENT EFFECTIVE NOVEMBER 16, 2018.MIDSTATES PETROLEUM COMPANY INC - AMENDMENT IMPOSES A MINIMUM LIQUIDITY REQUIREMENT OF $50 MILLION.MIDSTATES PETROLEUM COMPANY INC - AMENDMENT REMOVES CERTAIN RESTRICTIONS FOR CASH PAYMENTS PERTAINING TO SHARE REPURCHASES AND DIVIDENDS.  Full Article

Midstates Petroleum Reports Q3 EPS Of $0.44
Thursday, 8 Nov 2018 04:45pm EST 

Nov 8 (Reuters) - Midstates Petroleum Company Inc ::MIDSTATES PETROLEUM ANNOUNCES THIRD QUARTER 2018 RESULTS; REPORTS NET INCOME OF $11.5 MILLION, $0.44 PER SHARE.Q3 EARNINGS PER SHARE $0.44.PRODUCTION DURING Q3 OF 2018 TOTALED 17,996 BOEPD, COMPARED WITH 17,202 BOEPD DURING Q2 OF 2018.REDUCED FULL-YEAR 2018 OPERATIONAL CAPEX GUIDANCE BY APPROXIMATELY 10%.FOR 2018 MAINTAINING MID-POINT OF YEARLY PRODUCTION GUIDANCE OF 17,000 BOEPD.MIDSTATES PETROLEUM - QTRLY TOTAL REVENUES $47.8 MILLION VERSUS $49.7 MILLION.  Full Article

SandRidge Announces Rejection Of Midstates' Proposal
Monday, 19 Mar 2018 05:22pm EDT 

March 19 (Reuters) - SandRidge Energy Inc ::SANDRIDGE ANNOUNCES REJECTION OF MIDSTATES' PROPOSAL AND REVIEW OF STRATEGIC ALTERNATIVES.SANDRIDGE ENERGY - BOARD REJECTED MIDSTATES PETROLEUM'S UNSOLICITED PUBLIC OFFER TO COMBINE COS IN STOCK FOR STOCK MERGER AT 60%/40% EXCHANGE RATIO.SANDRIDGE ENERGY INC - HAS RECEIVED INDICATIONS OF INTEREST REGARDING ALTERNATIVE TRANSACTIONS FROM OTHER OIL AND GAS COMPANIES.SANDRIDGE - REJECTION OF MIDSTATES' PROPOSAL PRIMARILY BASED ON "SIGNIFICANTLY DIFFERING OPINIONS" OF MIDSTATES' PROVEN OIL AND GAS RESERVES.SANDRIDGE ENERGY INC - IT WILL UNDERTAKE A FORMAL PROCESS TO EVALUATE STRATEGIC ALTERNATIVES.SANDRIDGE - CO DOES NOT SUPPORT MIDSTATES' ESTIMATE THAT COMBINED BUSINESS PLAN WOULD RESULT IN GENERALLY FLAT PRODUCTION FROM 2019-2022.SANDRIDGE ENERGY - STRATEGIC ALTERNATIVES TO INCLUDE EVALUATION OF DIVESTMENT OR JV OPPORTUNITIES ASSOCIATED WITH NORTH PARK BASIN ASSETS.SANDRIDGE - CO DOES NOT SUPPORT MIDSTATES' ESTIMATE THAT COMBINED BUSINESS PLAN WOULD RESULT IN FREE CASH FLOW OF $320 MILLION - $400 MILLION, FROM 2019-2022.SANDRIDGE - CONCLUDED THAT ACCEPTING MIDSTATES' PROPOSAL WOULD BE "HIGHLY DILUTIVE".  Full Article

Midstates Petroleum Announces Qtrly Loss Per Share $4.78
Tuesday, 13 Mar 2018 04:34pm EDT 

March 13 (Reuters) - Midstates Petroleum Company Inc ::MIDSTATES PETROLEUM ANNOUNCES FOURTH QUARTER AND FULL YEAR 2017 RESULTS.MIDSTATES PETROLEUM COMPANY INC - DISCLOSED A 2018 CAPITAL BUDGET OF $100 MILLION TO $120 MILLION WITH A ONE-RIG DRILLING PROGRAM.MIDSTATES PETROLEUM COMPANY INC - ‍PRODUCTION DURING Q4 OF 2017 TOTALED 21,217 BOEPD, COMPARED WITH 21,358 BOEPD DURING Q3 OF 2017​.MIDSTATES PETROLEUM COMPANY INC QTRLY LOSS PER SHARE $4.78.MIDSTATES PETROLEUM COMPANY QTRLY TOTAL REVENUE $53.3 MILLION VERSUS $48.5 MILLION.  Full Article

Midstates Petroleum offers to merge with SandRidge Energy
Tuesday, 6 Feb 2018 06:03am EST 

Feb 6 (Reuters) - Midstates Petroleum Company Inc ::MIDSTATES PETROLEUM PROPOSES COMBINATION WITH SANDRIDGE ENERGY IN ALL-STOCK TRANSACTION.MIDSTATES PETROLEUM COMPANY SAYS HAS PROPOSED TO COMBINE WITH SANDRIDGE ENERGY IN ALL-STOCK MERGER.MIDSTATES PETROLEUM COMPANY INC - COMBINED COMPANY WOULD ACHIEVE GREATER THAN $70 MILLION IN ANNUAL SYNERGIES.MIDSTATES PETROLEUM COMPANY INC - ‍SANDRIDGE SHAREHOLDERS WOULD OWN APPROXIMATELY 60% OF COMBINED COMPANY AND MIDSTATES SHAREHOLDERS WOULD OWN 40%​.MIDSTATES PETROLEUM - SENT LETTER TO BOARD OF SANDRIDGE DETAILING MERGER PROPOSAL AND "ITS STRONG DESIRE TO NEGOTIATE A FRIENDLY TRANSACTION".MIDSTATES PETROLEUM COMPANY INC - ‍COMBINED CO TO BE LED BY DAVID J. SAMBROOKS, MIDSTATES' PRESIDENT AND CHIEF EXECUTIVE OFFICER​.MIDSTATES PETROLEUM COMPANY - COMBINED CO WOULD ACHIEVE PROJECTED ANNUAL FREE CASH FLOW OF OVER $100 MILLION AND ACCRETION TO BOTH SETS OF SHAREHOLDERS.MIDSTATES PETROLEUM COMPANY INC - ‍SANDRIDGE SHAREHOLDERS WOULD RECEIVE 1.068 SHARES OF MIDSTATES FOR EACH EXISTING SANDRIDGE SHARE​.MIDSTATES PETROLEUM COMPANY INC - ‍THERE IS SIGNIFICANT SHAREHOLDER OVERLAP BETWEEN TWO COMPANIES OF APPROXIMATELY 40%​.MIDSTATES PETROLEUM - ‍COMBINED CO TO HAVE "ZERO NET DEBT, STRONG LIQUIDITY", FORECASTED FREE CASH FLOW GENERATION OF UP TO $480 MILLION OVER NEXT 5 YRS​.MIDSTATES PETROLEUM - PROPOSAL TO SANDRIDGE ENERGY HAS SUPPORT OF FIR TREE PARTNERS AND AVENUE CAPITAL GROUP, CO'S LARGEST SHAREHOLDERS.  Full Article

‍Avenue Capital Management reports 13.9 pct stake in Midstates Petroleum - ​SEC filing
Tuesday, 14 Nov 2017 03:33pm EST 

Nov 14 (Reuters) - Avenue Capital Management II L.P.::Avenue Capital Management II L.P. reports 13.9 percent stake in Midstates Petroleum Company Inc as of November 14, 2017 - ​SEC filing.Avenue Capital ​says to recommend that Midstates Petroleum hire advisers to review opportunities to maximize shareholder value.Avenue Capital - may make proposals for potential changes in operations, management, board composition, governance, among other things.Avenue Capital ​says to have discussions with all or some of Midstates Petroleum’s management, board, other shareholders and/or third parties.  Full Article

Midstates Petroleum announces Q3 earnings per share $0.14
Monday, 13 Nov 2017 04:45pm EST 

Nov 13 (Reuters) - Midstates Petroleum Company Inc :Midstates Petroleum announces third quarter 2017 results.Q3 earnings per share $0.14.Midstates Petroleum - ‍Production during Q3 of 2017 totaled 21,358 boepd, compared with 22,490 boepd during Q2 of 2017​.Midstates Petroleum Company Inc - Qtrly ‍total revenues $49.7 million versus $64.2 million.  Full Article