MidStates to Release Earnings Report

Tulsa-based Midstates Petroleum Company , the firm that has proposed a takeover of Oklahoma City’s SandRidge Energy plans to release its fourth quarter and year-end 2017 earnings report on Tuesday, March 13, 2018.

The release will be made after the close of trading on the New York Stock Exchange. Executives will then host a conference call to discuss the release on Wednesday, March 14 at 7:30 a.m. Central time.

In the third quarter, the company had net income of $3.7 million or $0.14 a share. Its net debt totaled $51.6 million as of Sept. 30, 2017. It also reaffirmed its borrowing base at $170 million, based solely on the company’s Mississippian Lime assets.  Midstates also sold its non-core Lincoln County assets for $.7 million.

It was in early February when Midstates announced it had proposed to combine with SandRidge Energy in an all-stock merger. At last word, there had been no announcement by either company whether the merger would proceed.