midstates petroleum co inc (2MP) Snapshot

Midstates Petroleum Company, Inc. announced that Greg Hebertson recently joined the company as Senior Vice President of Exploration. Most recently, he was Vice President, Global Exploration New Ventures for Talisman Energy, a global independent oil and gas company where he was employed from August 2011 to May 2013.

Midstates Petroleum Company, Inc. Presents at 2013 RBC Capital Markets' Global Energy & Power Conference, Jun-04-2013 . Venue: Ritz-Carlton New York, Battery Park Hotel, New York, New York, United States. Speakers: John A. Crum, Chairman of the Board, Chief Executive Officer and President.

On May 23, 2013, Midstates Petroleum Company, Inc. and its wholly owned subsidiary Midstates Petroleum Company LLC (together with the company, the issuers) entered into a purchase agreement (the purchase agreement) with the representatives of the several initial purchasers (collectively, the initial purchasers), under which they agreed to sell $700 million aggregate principal amount of the issuers 9.25% senior notes due 2021 in a private placement conducted pursuant to rule 144a and Regulations under the Securities Act of 1933, as amended. The notes mature on June 1, 2021. The company expects to receive net proceeds of approximately $681.5 million, after deducting the Initial Purchasers discount and estimated offering expenses. 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 from Panther Energy Company, LLC, Red Willow Mid-Continent, LLC, and Linn Energy Holdings, LLC. 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 offering of the Notes is expected to close on May 31, 2013, concurrently with the closing of the Panther Acquisition. If the Panther Acquisition does not close on May 31, 2013, the net proceeds from the offering will be deposited into an escrow account pending completion of the Panther Acquisition. If the closing of the Panther Acquisition does not occur on or prior to August 2, 2013, or if the related acquisition agreement is terminated at any time on or prior to that date, then the escrowed funds will be applied to the mandatory redemption of the Notes at a price equal to 100% of the initial offering price of the Notes, plus accrued and unpaid interest to the redemption date.