15 June 2020director interest notice● Neutral
Travis Goff became a Mid-Con Energy Partners, LP director and company insider (initial ownership filing).
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
15 June 2020quarterly activities report▼ Bad
Mid-Con Energy Partners, LP reported quarterly revenue of $1.3 million and a net loss of $11.9 million for the period ended 2020-06-30.
9 June 2020substantial holder notice● Neutral
John C. Goff, Travis Goff, Goff REN Holdings, LLC, Goff MCEP Holdings, LLC, Goff MCEP II, LP, Goff Focused Energy Strategies, LP, Goff Capital, Inc, GFS REN GP, LLC, GFS MCEP GP, LLC, GFS Energy GP, LLC, GFS Management, LLC, Goff Focused Strategies LLC, GFT Strategies, LLC reported a Mid-Con Energy Partners, LP shareholding of 8,077,961 shares (56.40% of votes) in a periodic institutional filing.
8 June 2020director interest notice● Neutral
Mid-Con Energy Partners, LP 10%+ owner John C Goff converted derivative holdings into 8,044,061 shares.
2 Apr 2020listing compliance notice▼ BadMajor
On March 27, 2020 Nasdaq notified the company that its units would be delisted for continued failure to meet the $1.00 bid rule after the second compliance period ended. The company plans to request a hearing (which stays suspension) and present a plan of a 1-for-20 reverse unit split effective after market close April 9, 2020, approved by the general partner's board. This continues the listing thread; the outcome of the hearing is not yet known.
12 Mar 2020quarterly activities report● Neutral
Mid-Con Energy Partners, LP reported quarterly revenue of $38.5 million and net income of $2.8 million for the period ended 2020-03-31.
11 Dec 2019material agreement▼ BadMajor
On Dec 6, 2019 the company signed Amendment No. 14 to its credit agreement: maturity extended to May 1, 2021, borrowing base cut from $110 million to $95 million, and a $85 million borrowing cap (borrowing above it requires debt-to-EBITDAX under 3.0x). Maximum leverage ratio is 4.0x for Q4 2019, 3.75x for Q1 2020 and 3.5x from Q2 2020. The next regular redetermination is due spring 2020. This is a further reduction after the $110 million set in March 2019.
30 Oct 2019quarterly activities report● Neutral
Mid-Con Energy Partners, LP reported quarterly revenue of $21.8 million and net income of $6.0 million for the period ended 2019-09-30.
30 Oct 2019quarterly activities report● Neutral
Mid-Con Energy Partners, LP reported quarterly revenue of $21.8 million and net income of $6.0 million for the period ended 2019-09-30.
25 Sept 2019listing compliance notice▼ BadMajor
The units had not regained the $1.00 minimum bid by Sept 23, 2019, but Nasdaq granted a second 180-day period, to March 23, 2020. The company told Nasdaq it would cure by a reverse unit split if necessary; if it fails, Nasdaq would move to delist, subject to an appeal to a hearings panel. This continues the listing problem first flagged in March 2019.
31 July 2019quarterly activities report● Neutral
Mid-Con Energy Partners, LP reported quarterly revenue of $20.9 million and net income of $5.1 million for the period ended 2019-06-30.
31 July 2019quarterly activities report● Neutral
Mid-Con Energy Partners, LP reported quarterly revenue of $20.9 million and net income of $5.1 million for the period ended 2019-06-30.
2 May 2019quarterly activities report● Neutral
Mid-Con Energy Partners, LP reported quarterly revenue of $20.9 million and net income of $5.1 million for the period ended 2019-06-30.
2 May 2019quarterly activities report● Neutral
Mid-Con Energy Partners, LP reported quarterly revenue of $20.9 million and net income of $5.1 million for the period ended 2019-06-30.
2 Apr 2019listing compliance notice● NeutralMajor
The Texas sale ($60 million) and Oklahoma purchase ($27.5 million) with Scout closed on March 28, 2019 as planned. The company also signed Amendment No. 13 to its credit agreement, cutting the borrowing base to $110 million (from $125 million) and changing how the leverage ratio is calculated; the press release says revolver debt was $68.0 million at March 31, 2019. Separately, Nasdaq warned on March 26, 2019 that the units had closed below $1.00 for 30 straight business days, giving until Sept 23, 2019 to regain compliance.
13 Mar 2019quarterly activities report▼ Bad
Mid-Con Energy Partners, LP reported quarterly revenue of $3.0 million and a net loss of $3.8 million for the period ended 2019-03-31.
19 Feb 2019material agreement▲ GoodMajor
On Feb 15, 2019 the company agreed to sell substantially all its Eastern Shelf Texas properties to Scout Energy Group IV for $60 million and, at the same time, buy Oklahoma properties (Osage, Grady and Caddo Counties) from Scout entities for $27.5 million. Both are subject to usual adjustments, expected to close around March 28, 2019, and each depends on the other closing; sale proceeds are to fund the purchase, with the remainder going to general purposes including repaying revolver borrowings. The Texas properties are the ones gained in the Nov 2014 Eastern Shelf and Aug 2016 Nolan County deals.
8 Feb 2019substantial holder notice● Neutral
Robert J. Raymond, RR Advisors, LLC, RCH Black Fund GP, L.P, RCH Black Fund, L.P disclosed a new substantial Mid-Con Energy Partners, LP shareholding (10.50% of votes).
3 Jan 2019substantial holder notice● Neutral
John C. Goff, Goff REN Holdings, LLC, Goff MCEP Holdings, LLC, Goff MCEP II, LP, Goff Focused Energy Strategies, LP, Goff Family Investments, LP, Goff Capital, Inc, GFS REN GP, LLC, GFS MCEP GP, LLC, GFS Energy GP, LLC, GFS Management, LLC, Goff Focused Strategies LLC, GFT Strategies, LLC reported a Mid-Con Energy Partners, LP shareholding of 14,749,743 shares (33.10% of votes) in a periodic institutional filing.
30 Nov 2018substantial holder notice● Neutral
John C. Goff, Goff REN Holdings, LLC, Goff MCEP Holdings, LLC, Goff MCEP II, LP, Goff Focused Energy Strategies, LP, Goff Capital, Inc, GFS REN GP, LLC, GFS MCEP GP, LLC, GFS Energy GP, LLC, GFS Management, LLC, Goff Focused Strategies LLC, GFT Strategies, LLC reported a Mid-Con Energy Partners, LP shareholding of 14,071,743 shares (31.60% of votes) in a periodic institutional filing.
6 Nov 2018quarterly activities report▼ Bad
Mid-Con Energy Partners, LP reported quarterly revenue of $13.1 million and a net loss of $3.3 million for the period ended 2018-09-30.
5 Nov 2018quarterly activities report▼ Bad
Mid-Con Energy Partners, LP reported quarterly revenue of $13.1 million and a net loss of $3.3 million for the period ended 2018-09-30.
31 July 2018quarterly activities report▼ Bad
Mid-Con Energy Partners, LP reported quarterly revenue of $6.7 million and a net loss of $6.9 million for the period ended 2018-06-30.
31 July 2018quarterly activities report▼ Bad
Mid-Con Energy Partners, LP reported quarterly revenue of $6.7 million and a net loss of $6.9 million for the period ended 2018-06-30.
3 May 2018quarterly activities report▼ Bad
Mid-Con Energy Partners, LP reported quarterly revenue of $6.7 million and a net loss of $6.9 million for the period ended 2018-06-30.
2 May 2018quarterly activities report▼ Bad
Mid-Con Energy Partners, LP reported quarterly revenue of $6.7 million and a net loss of $6.9 million for the period ended 2018-06-30.
2 May 2018securities registration● Neutral
Mid-Con Energy Partners, LP registered a securities offering with the SEC using its shelf eligibility.
1 Mar 2018quarterly activities report▼ Bad
Mid-Con Energy Partners, LP reported quarterly revenue of $11.3 million and a net loss of $10.4 million for the period ended 2018-03-31.
9 Feb 2018substantial holder notice● Neutral
Robert J. Raymond, RR Advisors, LLC, RCH Black Fund GP, L.P, RCH Black Fund, L.P disclosed a new substantial Mid-Con Energy Partners, LP shareholding (8.50% of votes).
5 Feb 2018substantial holder notice● Neutral
John C. Goff, Goff REN Holdings, LLC, Goff MCEP Holdings, LLC, The Goff Family Foundation, Goff Capital, Inc, GFS REN GP, LLC, GFS Management, LLC, Goff Focused Strategies, LLC, Longboat Capital, LLC, James M. Howard reported a Mid-Con Energy Partners, LP shareholding of 4,790,697 shares (13.70% of votes) in a periodic institutional filing.