President and CEO of Midstates Petroleum Company John Crum Buys 25,000 Shares

By GuruFocus,

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President and CEO of Midstates Petroleum Company Inc. ( MPO ) John A. Crum bought 25,000 shares on 08/16/2012 at an average price of $7.52. The total transaction amount is $188,000. Midstates Petroleum Company Inc. is engaged in the exploration and development of oil and natural gas properties in central Louisiana. Midstates Petroleum Company Inc. has a market cap of $524.7 million; its shares were traded at around $7.99.

Two other insiders have recently increased their positions in MPO besides the company's CEO. Corporate Counsel and Secretary John P. Foley bought 13,000 shares of MPO stock on 08/16/2012 at the average price of $7.52. Vice President of Drilling and Completions Mitchell G. Elkins bought 10,000 shares of MPO stock on 08/16/2012 at the average price of $7.57.

Mr. John A. Crum has been the President and Chief Executive Officer at Midstates Petroleum Company LLC since March 2011. Mr. Crum served as Co-Chief Operating Officer and President of North America at Apache Corp. from Feb. 12, 2009 to Feb. 2011. He holds a bachelor's degree in petroleum engineering from the New Mexico Institute of Mining and Technology.

MPO recently reported its first quarter 2012 financial results. Revenue from oil, natural gas and natural gas liquids sales increased 31.4% to $54.8 million for the three months ended March 31, 2012, versus the comparable 2011 period. Adjusted EBITDA for the three months ended March 31, 2012 was $30.5 million, versus $29.8 million for the first quarter of 2011.

No gurus currently hold stakes in Midstates Petroleum Company Inc.

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This article appears in: Investing
Referenced Stocks: MPO

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