Fri, Jan. 23, 10:49 AM
- Mid-Con Energy Partners (MCEP -7.1%) cuts its quarterly distribution to $0.125 from $0.515 and says it plans a 2015 capital budget of $13M due to lower expected oil prices and anticipated higher capital costs.
- MCEP says it will limit capital spending to include only the most attractive development projects within the portfolio and at levels approximating the surplus from operating cash flow.
- Says it has hedged ~74% of its 2015 forecast oil production at an average price of $76/bbl, with coverage extending to the end of 2016.
Wed, Jan. 21, 12:45 PM
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Nov. 10, 2014, 4:59 PM
- Mid-Con Energy Partners (NASDAQ:MCEP) -4.3% AH after announcing a public offering of 5.8M common units, with an underwriters option to purchase up to 870K additional units.
- MCEP says it plans to use the proceeds to fund part of the purchase price of its previously announced pending acquisition of the Eastern Shelf properties in the Permian Basin in west Texas.
Sep. 4, 2013, 10:48 AM
- Oppenheimer restarts coverage of energy MLPs, bullish on the asset class as a whole; the firm shows a bias in favor of investing in higher distribution growth, even if the yields are lower, and for owning general partners due to their incentive distribution rights structure.
- Started at Outperform: EQT Midstream (EQM +2.1%), Seadrill Partners (SDLP +0.7%), Tesoro Logistics (TLLP +1.6%), Memorial Production Partners (MEMP +2.4%), Western Gas Partners (WES +0.4%), Western Gas Equity Partners (WGP +0.7%).
- Started at Market Perform: Williams Partners (WPZ), Crosstex Energy (XTEX), ONEOK Partners (OKS), Genesis Energy (GEL).
- Also: New Source Energy (NSLP), Breitbrun Energy Partners (BBEP), LRR Energy (LRE), Mid-Con Energy Partners (MCEP).
Oct. 15, 2012, 5:22 PMMid-Con Energy (MCEP) announces a 4M unit offering , consisting of 1M common units representing limited partner interests, plus an additional 3M units for Yorktown Energy Partners VI, Yorktown Energy Partners VII, and Yorktown Energy Partners VIII. RBC Capital Markets, Raymond James, UBS and Wells Fargo Securities are acting as joint book-running managers, with Baird, Oppenheimer and Stephens as co-managers for the offering. Shares -2.2% AH. | Comment!
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Mid-Con Energy Partners LP owns, operates, acquires, exploits and develops oil and natural gas producing properties in North America. The Company's properties are located in the Mid-Continent region of the United States.
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