Market Overview

Midstates Petroleum Shares Up 14% Following Bloomberg News To Explore Sale

Related MPO
Midstates Petroleum Reaffirms $252M Revolving Credit Facility; Provides Operational Update
Friday's After-Hours Movers Led By Midstates Petroleum, Veeva, BreitBurn, VMware & An Inverse Volatility ETN

Midstates Petroleum Company (NYSE: MPO) is working with Goldman Sachs and Morgan Stanley to solicit offers, according to Bloomberg.

Bloomberg's Mathew Monks wrote that Midstates Petroleum is said to explore a sale with the investment banks. The company currently has a market cap of roughly $429 million and an enterprise value of $2.1 million.

Shares of Midstates have been down more than 62 percent over the past two years. Following the announcement, the stock jumped as much as 14.71 percent from Thursday's close of $5.37.

Shares are currently trading around $6.13.

Posted-In: Bloomberg Goldman Sachs Morgan StanleyNews Rumors Media


Related Articles (MPO)

View Comments and Join the Discussion!

Get Benzinga's Newsletters