- Midstates Petroleum (MPO) +4.8% premarket after reporting adjusted Q4 earnings that topped Wall Street expectations although revenue trailed estimates despite more than doubling Y/Y.
- GAAP net loss expanded to $322M, or $4.89/share, in Q4 compared with a loss of $0.14/share during the prior-year quarter.
- Increased year-end 2013 proved reserves 69% to 128M boe, and replaced 700% of its 2013 production at a cost of $20.09/boe.
- Average Q4 daily production rose 10% to 31,187 boe/day from 28,464 boe/day in Q3 and up 139% Y/Y.
- Raises FY 2014 production guidance to 33.5K-36.5K boe/day from prior estimate of 33K-36K boe/day, and reaffirmed 2014 capex guidance of $500M-$550M.
- Sold Pine Prairie assets in Louisiana to a private buyer for $170M.
at Zacks.com (Nov 6, 2014)