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    Midstates Petroleum (MPO) Reports Year-End 2012 Proved Reserves Up 188% to 75.5 Million Boe

    February 22 Feb 2013 | 08:18
     

    crwenews

    mpo Midstates Petroleum Company, Inc. (NYSE: MPO)

    Midstates Petroleum Company previously reported that it grew its year-end 2012 estimated proved reserves to 75.5 million barrels of oil equivalent (“MMBoe”), up 188% from 26.2 MMboe at year-end 2011. Midstates’ reserves were fully engineered by its third-party reserve engineers, Netherland Sewell and Associates (“NSAI”).

    mpochart

    Year-end 2012 reserves were comprised of 50% oil, 19% natural gas liquids (“NGLs”) and 31% natural gas. Of the total reserves, 37% are proved developed. Geographically, 36.8 MMBoe are in Louisiana, a 40% increase over 2011 year-end reserves, and 38.7 MMBoe are in Oklahoma. Midstates operates 94% of its reserves and improved its reserve life at year-end 2012 to 13.3 years using year-end 2012 proved reserves divided by annualized fourth quarter 2012 production rates.

    For more information on Midstates Petroleum Company, Inc. visit www.midstatespetroleum.com

    In my opinion this is a stock to watch!

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