Eagle Energy Sells Oil and Gas Properties to Midstate Petroleum
August 15, 2012
Midstates Petroleum (NYSE: MPO) has entered into a definitive agreement to purchase Eagle Energy Production's oil and gas properties for $650 million. The properties, which are located in Oklahoma and Kansas, comprise 114 gross producing wells and more than 100,000 acres of developed and undeveloped real estate. The deal will include $325 million in cash and 325,000 Series A preferred shares in Midstates. Riverside Holdings, which provided Eagle Energy with $35 million of acquisition financing in 2009, will complete a partial exit through the transaction.