Midstates Petroleum to Acquire Properties in Western Anadarko Basin in Oklahoma and Texas for $620M

Midstates Petroleum Company, Inc. MPO ("Midstates" or the "Company") announced today that it has entered into a Purchase and Sale Agreement with Panther Energy, LLC, and its partners Red Willow Mid-Continent, LLC and LINN Energy Holdings, LLC LINE (together, “Panther”), to acquire producing properties as well as developed and undeveloped acreage in the Anadarko Basin in Texas and Oklahoma for $620 million in cash. Both Panther Energy, LLC and Red Willow Mid-Continent, LLC are subsidiaries of the Southern Ute Indian Tribe Growth Fund. Primary horizontal drilling targets include the Cleveland, Marmaton, Cottage Grove, and Tonkawa formations. The transaction will be effective April 1, 2013 and closing is expected on or about May 31, 2013, subject to customary closing conditions. See full press release