5 Feb 2021securities registration● Neutral
Mid-Con Energy Partners, LP amended an already-effective registration statement.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
1 Feb 2021listing compliance notice▼ BadMajor
Mid-Con Energy Partners, LP terminated the registration of a class of securities, ending its reporting obligation for them.
22 Jan 2021director interest notice● Neutral
Mid-Con Energy Partners, LP director Fred Norman Reynolds disposed of 81,939 shares via option/appreciation-right settlement.
22 Jan 2021director interest notice● Neutral
Mid-Con Energy Partners, LP 10%+ owner John C Goff disposed of 8,118,961 shares via option/appreciation-right settlement.
22 Jan 2021substantial 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 no remaining Mid-Con Energy Partners, LP shareholding in its periodic institutional filing.
22 Jan 2021securities registration● Neutral
Mid-Con Energy Partners, LP amended an already-effective registration statement.
22 Jan 2021director interest notice● Neutral
Mid-Con Energy Partners, LP director Robert J Boulware disposed of 63,000 shares via option/appreciation-right settlement.
22 Jan 2021securities registration● Neutral
Mid-Con Energy Partners, LP amended an already-effective registration statement.
22 Jan 2021director interest notice● Neutral
Mid-Con Energy Partners, LP director John Caperton White Jr. disposed of 52,000 shares via option/appreciation-right settlement.
22 Jan 2021securities registration● Neutral
Mid-Con Energy Partners, LP amended an already-effective registration statement.
21 Jan 2021listing compliance notice● NeutralMajor
Mid-Con Energy Partners, LP's exchange filed to remove a class of its securities from listing.
21 Jan 2021business combination● NeutralMajor
The Contango merger closed on Jan 21, 2021: Mid-Con merged into Contango's subsidiary Michael Merger Sub LLC and no longer exists as a separate entity. Each common unit converted into 1.7500 shares of Contango common stock, and phantom units vested and converted at the same ratio; units held in treasury or by the general partner were cancelled with no payment. This resolves the open merger thread. Nasdaq trading in the units was suspended that morning, and a Form 25 delisting and a Form 15 to end reporting are to follow. The revolving credit agreement was terminated with all borrowings and fees paid in full, the July 2020 management services agreement with Contango Resources was terminated with its warrant compensation and termination fee waived, and the four general partner directors (Boulware, Travis Goff, Reynolds, White) left their posts.
21 Dec 2020business combination▲ GoodMajor
On Dec 18, 2020 Mid-Con unitholders holding a majority of common units delivered written consent approving the Contango merger and an amended long-term incentive program, so no further unitholder vote is needed. The SEC has declared Contango's Form S-4 effective. A joint press release says the consent period ends on January 6 and the merger is expected to close on or about January 21; the filing writes both dates as 2020, which looks like a typo for 2021 (inference). This clears the unitholder approval and S-4 conditions, but the merger has not closed, so equity treatment is still unresolved.
18 Dec 2020business combination● NeutralMajor
The final merger proxy/consent document was mailed on Dec 18, 2020. Each Mid-Con common unit would get 1.7500 Contango shares, and Mid-Con unitholders would own about 13% of the combined company (Contango holders 87%). Approval needs a majority of Mid-Con common units, and holders of 8,107,900 units have agreed to deliver written consent within two business days of S-4 effectiveness; Contango holders of 51.5% of its shares have already consented. This moves the Contango merger closer to completion but it has not yet closed, so the equity outcome remains unresolved.
23 Nov 2020business combination● Neutral
Mid-Con refiled parts of its 2019 annual report (risk factors, financial statements, executive pay, ownership) with historical unit figures restated for the 1-for-20 reverse unit split that the filing says took place on April 9, 2020. This resolves the earlier open question of whether the split happened. It was done because Contango's Form S-4 for the merger, filed Nov 20, 2020, uses the restated figures; the filing states there was no change to Mid-Con's financial position, results or cash flows.
16 Nov 2020quarterly activities report▼ Bad
Mid-Con Energy Partners, LP reported quarterly revenue of $8.8 million and a net loss of $3.5 million for the period ended 2020-09-30.
27 Oct 2020director interest notice● Neutral
Mid-Con Energy Partners, LP director John Caperton White Jr. received a stock option grant for 52,000 shares.
27 Oct 2020director interest notice● Neutral
Mid-Con Energy Partners, LP director Fred Norman Reynolds received a stock option grant for 52,000 shares.
27 Oct 2020director interest notice● Neutral
Mid-Con Energy Partners, LP director Robert J Boulware received a stock option grant for 63,000 shares.
27 Oct 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 8,093,061 shares (56.50% of votes) in a periodic institutional filing.
27 Oct 2020director interest notice● Neutral
Mid-Con Energy Partners, LP director Travis Goff received a stock option grant for 41,000 shares.
26 Oct 2020business combination● NeutralMajor
This is the full original 8-K (Oct 25, 2020) announcing the merger of Mid-Con into a Contango Oil & Gas subsidiary: each common unit converts into 1.7500 Contango shares (to be listed on NYSE American), phantom units convert at the same ratio, and the general partner interest is cancelled. Closing needs Contango shareholder and Mid-Con unitholder approval, an effective Form S-4 and NYSE American listing approval; holders of 8,107,900 Mid-Con units agreed to vote for it, either side can end the deal after 180 days, and a $1.5 million termination fee plus up to $1.5 million expenses applies in specified cases. The filing also mentions a purchase and sale agreement between Contango and a Mid-Con subsidiary, but the text is cut off so its terms are not known. This is the filing the earlier 8-K/A header correction restated; the equity outcome is still unresolved.
26 Oct 2020material agreement● NeutralMajor
This 8-K/A only corrects the filing header, which wrongly named Contango Oil & Gas as the subject company; it restates the original Oct 25, 2020 8-K in full. That report discloses a merger agreement in which Mid-Con will merge into a Contango subsidiary, and each common unit converts into 1.7500 shares of Contango common stock (to be listed on NYSE American). The general partner interest is cancelled. Closing needs Contango shareholder and Mid-Con unitholder approval, an effective Form S-4 and NYSE American listing approval, among other conditions; holders of 8,107,900 Mid-Con units agreed to vote in favour, and the agreement can be ended if the merger is not done within 180 days. Termination fee is $1.5 million plus expense reimbursement up to $1.5 million. Not yet completed, so the equity outcome is unresolved.
9 Sept 2020substantial holder notice● Neutral
GAINSCO, Inc, SCG Ventures LP, FWC Holdings, LLC, Stallings Management, LLC, Robert W. Stallings, James R. Reis reported a Mid-Con Energy Partners, LP shareholding of 978,986 shares (6.84% of votes) in a periodic institutional filing.
14 Aug 2020quarterly activities report▼ Bad
Mid-Con Energy Partners, LP reported quarterly revenue of $8.8 million and a net loss of $3.5 million for the period ended 2020-09-30.
19 June 2020substantial holder notice● Neutral
GAINSCO, Inc, SCG Ventures LP, FWC Holdings, LLC, Stallings Management, LLC, Robert W. Stallings, James R. Reis reported a Mid-Con Energy Partners, LP shareholding of 1,197,541 shares (8.37% of votes) in a periodic institutional filing.
17 June 2020director interest notice● Neutral
John Caperton White Jr. became a Mid-Con Energy Partners, LP director and company insider (initial ownership filing).
15 June 2020director interest notice● Neutral
Fred Norman Reynolds became a Mid-Con Energy Partners, LP director and company insider (initial ownership filing).
15 June 2020director interest notice● Neutral
Robert J Boulware became a Mid-Con Energy Partners, LP director and company insider (initial ownership filing).
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.