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Tuesday, May 7, 9:11 AM More on Midstates Petroleum's (MPO) Q1 results: Q1 loss narrowed as sales growth outpaced an increase in expenses. Oil, gas and NGL revenue rose 66% Y/Y to $90.7M. Adjusted EBITDA totaled $56.5M vs. $30.5M in Q1 2012 and $48.6M in Q4. Production averaged 16,208 boe/day vs. 15,592 boe/day in Q4. Shares +6.3% premarket. Comment! [Energy, Earnings, On the Move]
Monday, May 6, 5:33 PM Midstates Petroleum (MPO): Q1 EPS of -$0.18 misses by $0.17. Revenue of $71M misses by $19.2M. Shares +2.1% AH. (PR) Comment! [Earnings, Breaking News, On the Move]
Thursday, April 4, 7:37 AM Midstates Petroleum (MPO) agrees to buy oil and gas acreage in the Anadarko Basin in Texas and Oklahoma from Panther Energy and its partners Red Willow Mid-Continent and LINN Energy (LINE) for $620M. MPO says the deal is immediately accretive in 2013 to cash flow per share, earnings, EBITDA, proved reserves and production per share. Comment! [Energy, M&A]
Wednesday, March 20, 12:54 PM Midstates Petroleum (MPO +2.7%) says it received a favorable ruling from the Louisiana Supreme Court in litigation over working interests in the Pine Prairie field. Following MPO's acquisition of Mississippi Lime assets last year, "the exposure to potential reserve losses was smaller than a year ago, but still a positive outcome that could put [the litigation] story to bed," Wells Fargo says. Comment! [Energy, On the Move]
Monday, February 25, 6:36 PM The verdict on Chesapeake's (CHK -6.8%) sale of Mississippi Lime assets is a nearly unanimous thumbs-down. The shale formation is less developed than the better-known Bakken and Eagle Ford, but Morningstar's Mark Hanson says the sale involves some of CHK's most promising acreage in the area. The deal may not bode well for others with sizable Mississippian stakes: SD -6.5%, MPO -6%. 9 Comments [Energy]
Monday, August 13, 2012, 2:49 PM Midstates Petroleum's (MPO -0.1%) $650M deal for Mississippian Lime properties, which costs more than its current $500M market cap and more than doubles its size on an oil-equivalent basis, is achievable thanks to historically cheap corporate debt which is "allowing small-cap and mid-cap ants to carry big rubber tree plants." Comment! [Energy]
Monday, August 13, 2012, 8:22 AM Midstates Petroleum (MPO) agrees to acquire all Mississippian Lime properties in Oklahoma and Kansas from privately-held Eagle Energy Production for $650M in cash and stock. Production from the properties was 7,904 boe/day in Q2 and 8,275 boe/day in Q1. Also, MPO reports a Q2 loss of $1.85/share on revenues of $102M (up 58% Y/Y). Comment! [Energy, M&A]
Wednesday, June 13, 2012, 10:17 AM Midstates Petroleum (MPO -17%) shares sink after disclosing an update on pending litigation with Clovelly Oil, stating that "an adverse court decision could result in a material adverse effect on our financial condition, future planned operations and/or cash flow." Also, an amended credit agreement increases the size of MPO's revolving credit facility from $300M to $500M. 3 Comments [Energy, On the Move]
Tuesday, May 15, 2012, 2:38 PM Goldman's Brian Singer issues upbeat comments on energy exploration stocks, expecting a pickup of well results from oil drilling in new plays or new areas in existing play in the next six months. Singer reiterates a Conviction Buy for PXD and a Buy on DVN; MPO is started at Neutral, and CXO looks more attractive after a pullback. Comment! [Energy, Quick Ideas]

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Midstates Petroleum