Mid-Con Energy Partners (NASDAQ:MCEP) acquires, develops and drills for oil, with a focus on the Mid-Continent region of the United States. Its properties are located in in three core areas: Southern Oklahoma, Northeastern Oklahoma and parts of Oklahoma and Colorado within the Hugoton Basin. Its properties consist of mature, legacy onshore oil reservoirs with long-lived, predictable production and low decline rates. Like most MLPs, Mid-Con has a high distribution yield and distributes most of its cash to unitholders.
Mid-Con got its start as an MLP in 2011 but its history as a company is a bit older. About 23% of the company is owned by privately held Yorktown Energy, which had common founders with Mid-Con through Mid-Con Energy...
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