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Mid-Con Energy acquires mature Northeastern Oklahoma properties


Published Jul 29, 2014
Mid-Con Energy Partners, LP

Mid-Con Energy Partners, LP, through its wholly owned subsidiary, Mid-Con Energy Properties, LLC, has entered into a definitive agreement to acquire net proved reserves estimated at 2.6 million barrels of oil equivalent (Mmboe) for an aggregate purchase price of approximately $56.5 million, subject to customary post-closing adjustments.

The acquisition, expected to close and become effective on August 5, 2014, will be funded with approximately 2.2 million units of MCEP stock and $4.5 million in cash.

The acquired position, the Oilton Field (Oilton), is a mature asset producing from a large anticline structure underlying acreage in Creek County, OK. Discovered in 1913, the field has produced over 35 Mmboe, primarily from the Arbuckle, Wilcox and Bartlesville formations. Mid-Con Energy will acquire operatorship in Oilton along with an approximate 97% net working interest.

Tags: Mid-Con Energy Partners




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