Exploration & Production | Quarterly / Earnings Reports | Second Quarter (2Q) Update | Deals - Acquisition, Mergers, Divestitures
MidCon Sees -18% Production Drop YOY; Inks Multiple Acquisitions
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Mid-Con Energy Partners reported its Q2 2018 results.
- Average daily production of 2,934 Boe/d, an increase of 4.8% from 1Q18 and a decrease of 17.6% YOY
- The year-over-year variance was primarily due to the December 2017 sale of Southern Oklahoma properties, which had average production for November 2017 of 513 Boe/d.
Acquisition Spree
The company inked multiple acquisitions in Q2, including:
- Natural Gas Properties in Oklahoma
- Purchased for $8.3 million
- 1,084 MBOE in proved reserves
- Daily production averaging 223 BOEPD
- Worland Natural Gas Properties / Midstream Assets
- Purchased for $5.0 million
- Located in Washakie County, Wyoming
- 1,071 MBOE in proved reserves
- Daily production averaging 544 BOEPD
- Wyoming Powder River Basin
- Purchased for $1.0 million
- Prospective for the Powder River Basin in Campbell County, Wyoming
- House Creek Working Interest in Wyoming
- Acquired additional working interest in House Creek Unit in Wyoming (acquired 47.6% WI - holdings now total 95.7%)
- Purchase price was $450,000
Click here to access these deals in Shale Experts M&A Database
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Second Quarter (2Q) Update
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