Midstates Wraps up $58 million sale of Anadarko Basin Properties

Tulsa’s Midstates Petroleum Company announced the closing this week of a previously announced sale of its Anadarko Basin producing properties in western Oklahoma and the Texas Panhandle.

The sale price was $58 million and the net proceeds came to approximately $54 million.

The company said the proceeds will be used to pay down part of the outstanding borrowings under the firm’s revolving credit facility and for general corporate purposes.

SunTrust Robinson Humphrey acted as the advisor to Midstates on the transaction.