Steve Zachritz
Growth, long-term horizon, commodities, oil & gas

Mid-Con Energy Partners - The Flood That Yields A Rising Tide Of Cash

The Pre-Nutshell Basics: A quick update

Mid-Con Energy Partners, LP (NASDAQ:MCEP) is an acquire and exploit style master limited partnership, MLP, with waterflood assets in Oklahoma and Colorado. Mid-Con came to market in December 2011 but management has been working the core of the assets (see below) since 2005 and has identified and developed roughly one quarter of the waterfloods in Oklahoma over that time period, the most of any single entity. MCEP is very oily with 97% of the production mix as of Q3 '12 being black oil and as such it sports best in show cash margins. The strategy here is to operate and employ proven waterflood techniques to mature oil properties that are in shallow...

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