DALLAS, Jan. 24, 2013 (GLOBE NEWSWIRE) -- Mid-Con Energy Partners, LP (Nasdaq:MCEP) ("Mid-Con Energy" or the "Partnership") announced today that the board of directors of its general partner declared an increase in the quarterly cash distribution rate to $0.495 per unit for the quarter ended December 31, 2012. This represents an approximate 2% sequential increase over the $0.485 per unit rate declared for the quarter ended September 30, 2012, and results in an annualized distribution of $1.98 per unit.
The quarterly distribution will be payable February 14, 2013 to all unitholders of record at the close of business on February 7, 2013.
"We are pleased to announce the Partnership's second consecutive increase in the quarterly distribution rate since going public in December 2011," commented Craig George, Executive Chairman of the Board. "Our primary objective is to manage our properties for the purposes of generating stable cash flows and, over time, increasing distributions to our unitholders."Earnings Release and Conference Call Mid-Con Energy will release its financial and operating results for the fourth quarter and full year ended December 31, 2012 after the market closes for trading on Tuesday, March 5, 2013. Management will host a conference call on Wednesday, March 6, 2013 at 10:00 a.m. ET (9:00 a.m. CT). Interested parties are invited to participate via telephone by dialing 1-877-847-5946 (Conference ID: 92338868) at least five minutes prior to the scheduled start time of the call, or via webcast by clicking on "Events & Presentations" in the investor relations section of the Mid-Con Energy website at www.midconenergypartners.com . A telephonic replay of the conference call will be available through March 13, 2013 by dialing 1-855-859-2056 (Conference ID: 92338868). Additionally, a webcast archive will be available at www.midconenergypartners.com . 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.