Midstates to acquire oil, gas assets from Panther Energy

04/5/2013 | Reuters

Midstates Petroleum will spend about $620 million to acquire assets in the Anadarko Basin in Oklahoma and Texas from Panther Energy and its partners. Midstates said its production will increase by 8,000 barrels of oil equivalent per day with the transaction. "[The deal] increases our year-end 2012 proved reserves by almost 50 percent, grows our fourth-quarter production by over 50 percent, and nearly doubles our active gross well count," said John Crum, president and CEO of Midstates.

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