Midstates Closes Eagle Energy Acquisition, Senior Notes Offering; Shares Flat

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Midstates Petroleum Company, Inc. ( MPO ) announced the closing of their previously announced acquisition of all of Eagle Energy Production, LLC's producing properties as well as their developed and undeveloped acreage primarily in the Mississippian Lime oil play in Oklahoma and Kansas for $325 million in cash and 325,000 shares of Midstates' Series A Preferred Stock with an initial liquidation preference value of $1,000 per share.

The company and Midstates also announced the closing of their private placement of $600 million in aggregate principal amount of 10.75% senior unsecured notes.

MSO shares are flat late at $8.78.

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This article appears in: Investing , Commodities

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