2 Feb 2017director interest notice● Neutral
Mid-Con Energy Partners, LP Chief Executive Officer Jeffrey R. Olmstead acquired 16,666 shares at $2.97 under a company stock plan.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
2 Feb 2017director interest notice● Neutral
Mid-Con Energy Partners, LP Executive Chairman of Board Charles R. Olmstead acquired 16,666 shares at $2.97 under a company stock plan.
14 Dec 2016substantial holder notice● Neutral
GAINSCO, Inc, SCG Ventures LP, FWC Holdings, LLC, Stallings Management, LLC, Robert W. Stallings, James R. Reis disclosed a new substantial Mid-Con Energy Partners, LP shareholding (5.90% of votes).
10 Nov 2016securities registration● Neutral
Mid-Con Energy Partners, LP registered a securities offering with the SEC using its shelf eligibility.
31 Oct 2016quarterly activities report▼ Bad
Mid-Con Energy Partners, LP reported quarterly revenue of $14.0 million and a net loss of $2.4 million for the period ended 2016-09-30.
31 Oct 2016quarterly activities report▼ Bad
Mid-Con Energy Partners, LP reported quarterly revenue of $14.0 million and a net loss of $2.4 million for the period ended 2016-09-30.
17 Oct 2016director interest notice● Neutral
Matthew R Lewis became a Mid-Con Energy Partners, LP Chief Financial Officer and company insider (initial ownership filing).
18 Aug 2016director interest notice● Neutral
Mid-Con Energy Partners, LP Chief Accounting Officer Sherry Morgan acquired 6,667 shares at $1.50 under a company stock plan.
18 Aug 2016director interest notice● Neutral
Mid-Con Energy Partners, LP director C Fred Ball Jr. bought 40,000 shares on the open market at $2.54.
18 Aug 2016director interest notice● Neutral
Mid-Con Energy Partners, LP Executive Chairman of Board Charles R. Olmstead acquired 16,667 shares at $1.50 under a company stock plan.
17 Aug 2016director interest notice● Neutral
John C Goff became a Mid-Con Energy Partners, LP company insider (initial ownership filing).
16 Aug 2016asset acquisition disposition● NeutralMajor
On August 11, 2016 the partnership completed the $25 million private placement of 11,627,906 Class A preferred units at $2.15 each, including $2 million bought by Mid-Con Energy III, an affiliate of the general partner. It used the proceeds to close the roughly $19.5 million Nolan County, Texas acquisition from Walter Exploration, JMW LTD and Wildcat Properties, with excess going to general purposes including credit facility repayment. Amendment No. 10 raised the conforming borrowing base to $140 million, and pro forma debt is about $133 million. The preferred units rank ahead of common units for distributions and on liquidation, and a failure to pay preferred distributions blocks common distributions. This resolves both the placement and acquisition threads.
16 Aug 2016substantial holder notice● Neutral
John C. Goff, Goff REN Holdings, LLC, Goff MCEP Holdings, LLC, The Goff Family Foundation, Goff Capital, Inc, Longboat Capital, LLC, James M. Howard, Keith B. Ohnmeis disclosed a new substantial Mid-Con Energy Partners, LP shareholding (13.80% of votes).
4 Aug 2016quarterly activities report▼ Bad
Mid-Con Energy Partners, LP reported quarterly revenue of $14.0 million and a net loss of $2.4 million for the period ended 2016-09-30.
3 Aug 2016capital raising announcement▼ BadMajor
On July 31, 2016 the partnership agreed to sell up to $20.0 million (plus up to $5.0 million more) of 8.00% Class A Convertible Preferred Units in a private placement, to fund a roughly $19.5 million purchase of Nolan County, Texas properties from unaffiliated sellers (agreed July 28, effective June 1, 2016). The preferred units are convertible one-for-one into common units after six months, can be redeemed by holders after five years, and sales under the May 2015 at-the-market program are to be suspended for five years, with new debt beyond the credit facility restricted without preferred holder consent. This adds a new class of securities with claims ahead of common unitholders.
3 Aug 2016asset acquisition disposition● NeutralMajor
The partnership closed the $18 million Hugoton assets sale on July 28, 2016, as announced in May, and attached unaudited pro forma financials reflecting the sale. The company's address is now Tulsa, Oklahoma rather than Dallas. This resolves the Hugoton divestiture thread.
2 Aug 2016quarterly activities report▼ Bad
Mid-Con Energy Partners, LP reported quarterly revenue of $14.0 million and a net loss of $2.4 million for the period ended 2016-09-30.
2 Aug 2016director interest notice● Neutral
Mid-Con Energy Partners, LP Chief Financial Officer Michael David Peterson acquired 5,125 shares at $1.50 under a company stock plan.
2 Aug 2016director interest notice● Neutral
Mid-Con Energy Partners, LP Executive Chairman of Board Charles R. Olmstead acquired 16,667 shares at $1.50 under a company stock plan.
2 Aug 2016director interest notice● Neutral
Mid-Con Energy Partners, LP Chief Accounting Officer Sherry Morgan acquired 6,667 shares at $1.50 under a company stock plan.
2 Aug 2016director interest notice● Neutral
Mid-Con Energy Partners, LP Chief Executive Officer Jeffrey R. Olmstead acquired 16,667 shares at $1.50 under a company stock plan.
2 Aug 2016director interest notice● Neutral
Mid-Con Energy Partners, LP VP General Counsel & Secretary Charles L Mclawhorn III acquired 10,000 shares at $1.50 under a company stock plan.
16 June 2016director interest notice● Neutral
Mid-Con Energy Partners, LP Chief Financial Officer Peterson Michael David sold 26,250 shares at $2.02.
2 June 2016material agreement▼ BadMajor
Amendment No. 9 (May 31, 2016) set the new borrowing base from June 1 as a $110 million conforming tranche plus a $53 million permitted overadvance. It falls to $105 million when the Hugoton sale closes, requires minimum monthly principal payments and a monthly excess cash flow report, raises collateral coverage to 95% of proved reserves, requires hedge restructuring, and sends Hugoton sale and hedge termination proceeds to debt reduction. A further redetermination may be requested between September 1 and November 1, 2016. These are tighter lender terms than the earlier amendments.
2 June 2016material agreement● NeutralMajor
On May 26, 2016 the partnership agreed to sell oil and gas assets in its Hugoton area to an undisclosed, unaffiliated buyer for $18 million, effective May 1, 2016, with closing expected by July 29, 2016. The filing does not say what the proceeds are for; the credit amendment filed the same day requires them to go to debt reduction.
2 May 2016quarterly activities report▼ Bad
Mid-Con Energy Partners, LP reported quarterly revenue of $4.7 million and a net loss of $15.8 million for the period ended 2016-06-30.
2 May 2016quarterly activities report▼ Bad
Mid-Con Energy Partners, LP reported quarterly revenue of $4.7 million and a net loss of $15.8 million for the period ended 2016-06-30.
6 Apr 2016director interest notice● Neutral
Mclawhorn Charles L III became a Mid-Con Energy Partners, LP VP General Counsel & Secretary and company insider (initial ownership filing).
7 Mar 2016director interest notice● Neutral
Mid-Con Energy Partners, LP director Smith Cameron O. bought 5,000 shares on the open market at $1.11.
29 Feb 2016quarterly activities report▼ Bad
Mid-Con Energy Partners, LP reported quarterly revenue of $13.8 million and a net loss of $3.3 million for the period ended 2016-03-31.