Casey Hoerth
Long only, long-term horizon, growth at reasonable price, dividend investing

Mid-Con Energy Partners: Pardon Our Lumpiness

Mid-Con Energy Partners (NASDAQ:MCEP), one of the handful of companies in the US focused exclusively on enhanced oil recovery in mature basins, posted its second quarter in a row of disappointing results.

This quarter saw lease operating expenses rise by $6.72 per barrel. Part of this was due to operations in a higher-cost area, the Hugoton Basin, but most of the increase was due to lack of an oil production response from water pressure pumps. Taxes were a bit higher because of higher overall production (again, thanks to the Hugoton acquisition and a few others). Also, a pump got stuck in a hole on one of Mid-Con's wells, which led to another temporary decrease of 100 barrels of...

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