Newspaper article THE JOURNAL RECORD

Mid-Con to Buy Natural Gas Properties

Newspaper article THE JOURNAL RECORD

Mid-Con to Buy Natural Gas Properties

Article excerpt

TULSA - Mid-Con Energy Partners on Monday said it has a definitive agreement to buy oil and natural gas properties in Nolan County, Texas, for $19.5 million.

The acquisition is expected by Aug. 12.

The purchase will be funded through private financing from investors including affiliates of Bonanza Capital, investor John Goff and Swank Capital.

Mid-Con also announced that it received lender support to increase its borrowing base of its revolving credit facility to $140 million.

"Since announcing the results of our spring 2016 redetermination, we made a concerted effort to re-establish a conforming borrowing base without exclusively relying on a rebound in commodity price," said Jeff Olmstead, Mid-Con Energy's CEO.

Mid-Con Energy Partners plans to sell up to $25 million of Class A convertible preferred units in a private offering. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.