Follow-On Offering

Energy
Follow-On Offering

Summary

Baird served as a co-manager in this offering

About

Mid-Con Energy Partners, LP (NASDAQ:MCEP) (“MCEP” or the “Partnership”) recently completed a follow-on offering of 4,600,000 common units of its limited partnership interests at a price of $21.20 per unit, generating gross proceeds of approximately $97.5 million. Affiliates of Yorktown Partners LLC (“Yorktown”) sold 3,600,000 common units in the offering. MCEP will not receive any proceeds from the common units sold by Yorktown. The Partnership intends to use the net proceeds that it receives from the offering to repay borrowings outstanding under the Partnership’s revolving credit facility.

MCEP is a Delaware limited partnership formed in July 2011 to own, operate, acquire, exploit and develop producing oil and natural gas properties in North America, with a focus on the Mid-Continent region of the United States. MCEP’s properties primarily consist of mature, legacy onshore oil reservoirs with long-lived, relatively predictable production profiles and low production decline rates. MCEP’s operations are focused primarily on enhancing the development of producing oil properties through waterflooding. Waterflooding is a form of secondary oil recovery that works by repressuring a reservoir through water injection and pushing or “sweeping” oil to producing wellbores.

For additional information about this transaction, please contact:

Frank Murphy (314) 445-6532
Curtis Goot (314) 445-6540
Kjell Lundal (314) 445-6533
Gary Placek (414) 765-3611
Energy
Follow-On Offering
Date
October 2012
Company
Mid-Con Energy Partners, LP
Transaction
M&A
Sectors
Energy
Target Location
North America

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