DALLAS, Oct. 22, 2012 (GLOBE NEWSWIRE) -- Mid-Con Energy Partners, LP (Nasdaq:MCEP) ("Mid-Con Energy" or the "Partnership") announced today the closing of its public offering of 4,000,000 common units representing limited partner interests in Mid-Con Energy at a price to the public of $21.20 per unit. 1,000,000 common units were sold by Mid-Con Energy, and 3,000,000 common units were sold by Yorktown Energy Partners VI, L.P., Yorktown Energy Partners VII, L.P. and Yorktown Energy Partners VIII, L.P. Additionally, the underwriters exercised in full their option to purchase an additional 600,000 common units from the Yorktown entities, the closing of which occurred simultaneously.
Mid-Con Energy intends to use net proceeds of approximately $20.4 million from its 1,000,000 common unit offering, after deducting underwriting discounts but before offering expenses, to repay borrowings outstanding under its credit facility. Mid-Con Energy did not receive any proceeds from the 3,600,000 common units sold by the Yorktown entities.
RBC Capital Markets, LLC, Raymond James & Associates, Inc., UBS Securities LLC and Wells Fargo Securities, LLC acted as joint book-running managers. Robert W. Baird & Co. Incorporated, Oppenheimer & Co. and Stephens Inc. acted as co-managers for the offering.This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About Mid-Con Energy Partners, LP Mid-Con Energy is a Delaware limited partnership formed in July 2011 to own, operate, acquire, exploit and develop producing oil and natural gas properties in North America, with a focus on the Mid-Continent region of the United States. Mid-Con Energy's core areas of operation are located in Southern Oklahoma, Northeastern Oklahoma and parts of Oklahoma and Colorado within the Hugoton Basin.