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Mid-Con Energy (MCEP) Reports Q2 EPD of 18c, to Acquire Mature Waterflood Unit

August 4, 2014 5:48 PM EDT
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Mid-Con Energy (NASDAQ: MCEP) reported Q2 EPS of $0.18, may not compare to the analyst estimate of $0.44. Revenue for the quarter came in at $22.26 million versus the consensus estimate of $23.34 million.

Mid-Con Energy Partners through its wholly owned subsidiary, Mid-Con Energy Properties, LLC, announces that it has entered into a definitive agreement to acquire net proved developed producing oil reserves estimated at 658 thousand barrels of oil for an aggregate purchase price of approximately $19.4 million. The acquisition, subject to customary post-closing adjustments, will be funded with available cash and borrowings under the Partnership's revolving credit facility and is expected to close on August 29, 2014, with an effective date of July 1, 2014.

For earnings history and earnings-related data on Mid-Con Energy (MCEP) click here.



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