QUOTE AND NEWS
TheStreet.com  Dec 3  Comment 
Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.  TheStreet Ratings quantitative algorithm...
Bulk Transporter  Nov 26  Comment 
Ryder System Inc, a leader in commercial fleet management and supply chain solutions, has signed a strategic alliance agreement with Mansfield Clean Energy Partners (MCEP), a joint venture founded by Mansfield Energy Corp, one of the nation’s...
Bulk Transporter  Nov 26  Comment 
Mansfield Clean Energy Partners (MCEP), the joint venture of Clean Energy Fuels Corp and Mansfield Energy Corp, held a grand opening ceremony for the first compressed natural gas (CNG) station built to serve the MCEP venture. Georgia Lieutenant...
Benzinga  Nov 11  Comment 
Mid-Con Energy Partners, LP (Nasdaq: MCEP) ("Mid-Con Energy" or the "Partnership") announces that it has priced 5,800,000 common units representing limited partner interests in the Partnership ("common units") at an offering price to the public...
Benzinga  Nov 10  Comment 
Mid-Con Energy Partners, LP (Nasdaq: MCEP) ("Mid-Con Energy" or the "Partnership") announces that it plans to sell 5,800,000 common units representing limited partner interests in the Partnership in an underwritten public offering pursuant to an...
StreetInsider.com  Oct 13  Comment 
Visit StreetInsider.com at http://www.streetinsider.com/Corporate+News/Mid-Con+Energy+Partners%2C+LP+%28MCEP%29+Eners+%24120M+Eastern+Shelf+Acquisition/9906087.html for the full story.




 
TOP CONTRIBUTORS

Mid-Con Energy Partners LP (NASDAQ:MCEP) is an oil and gas limited partnership which acquires and develops properties. The company is focused on assets located in the mid-continent region of the United States. The company's primary experience is in acquiring developed wells and enhancing them using a technique known as waterflooding. Mid-Con makes money by selling the natural gas and oil extracted using this and other techniques. In addition, the company hedges large portions of its production with financial derivatives. [1]


Business Overview

For the 9 months ended in September 2010, the company reported Pro forma earnings. For the period, the total revenue was $35M and a net income of $20M. For the same period in 2009, the revenue was $17M and net income $4M. [2]

New Updates

The company's initial public offering of stock on the NASDAQ occurred on December 14, 2011. The company offered 5.4M shares each for $18. This was below the $19-$21 price range. The deal raised a total of $97M. The lead mangers of the deal were Royal Bank Of Canada (RY), Raymond James, and Wells Fargo.[3]

Trends & Forces

Focus on Developed Wells

Because Mid-Con focuses on using its waterfall technique on developed wells, the company's assets are generally near the end of their producing lives. As a result, the company needs to consistently acquire new properties in order to replace its assets. This replacement is particularly necessary in Mid-Con's case as opposed to other oil and gas companies since its developed wells often have already had the majority of their reserves extracted. [4]

  1. MCEP S-1/A 2011 PROSPECTUS SUMMARY "Overview" pp. 1-2
  2. MCEP S-1/A 2011 PROSPECTUS SUMMARY "Summary Historical and Pro Forma Financial Data" pp. 15-16
  3. Renaissance Capital - IPO Home "Mid-Con Energy prices IPO at $18, below the range" 14 Dec 2011
  4. MCEP S-1/A 2011 PROSPECTUS SUMMARY "Risk Factors" pp. 5-7
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