Last $6.48 USD
Change Today -0.14 / -2.11%
Volume 439.8K
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Company Description

Contact Info

4400 Post Oak Parkway

Suite 1900

Houston, TX 77027

United States

Phone: 713-595-9400

Fax:

Midstates Petroleum Company, Inc. engages in the exploration, development, and production of oil, natural gas, and natural gas liquids. Strategies The company’s strategies include drilling and developing its acreage position to maximize the value of its primarily oil and liquids rich resource potential; maintaining a disciplined approach to its financial management; maintaining operatorship across a diverse asset base; utilizing its technical and operating expertise; increasing its acreage position; and employing rigorous investment analysis to determine the allocation of capital across its many drilling opportunities and in evaluating potential acquisitions. Oil and Gas Properties and Operations Mississippian Lime As of December 31, 2013, the Mississippian assets consisted of approximately 84,300 net prospective acres in the Mississippian Lime trend, with 79,800 net acres in Woods and Alfalfa counties of Oklahoma. The company also owns approximately 12,900 net acres in Lincoln County, Oklahoma, which produces from, and is prospective in, the Hunton formation. Anadarko Basin As of December 31, 2013, the Anadarko Basin consisted of approximately 129,800 net acres in the Anadarko Basin, consisting of 95,500 net acres in Texas and 34,300 net acres in western Oklahoma. Gulf Coast As of December 31, 2013, the company had accumulated approximately 56,500 net acres in the trend and options to acquire an aggregate of approximately 24,700 additional targeted net acres. The company’s development operations in the Gulf Coast area are focused on drilling vertical and horizontal wells and commingling production from multi-stage hydraulically fractured completions across stacked oil-producing intervals. As of December 31, 2013, it had drilled 144 wells in the trend. The Gulf Coast areas of operation are concentrated in three core fields in Beauregard and Evangeline Parishes, Louisiana: Pine Prairie, South Bearhead Creek and North Coward's Gully. Reserves As of December 31, 2013, the company’s estimated net proved reserves were 127.8 million barrels of oil equivalent. Customers The company sells its oil, natural gas liquids and natural gas to third-party purchasers. For the year ended December 31, 2013, its customers included ConocoPhillips, Chevron, Gulfmark, Semgas, and Valero Marketing. Environmental and Occupational Health and Safety Regulation The company is subject to the requirements of the Resource Conservation and Recovery Act, as amended, and comparable state statutes. The company is subject to the requirements of the federal Occupational Safety and Health Act, as amended, and comparable state statutes whose purpose is to protect the health and safety of workers. Significant Events PetroQuest Energy, Inc. announced that it has entered into an oil focused joint venture in Louisiana with Midstates Petroleum Company, Inc. in June 2014.

 

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