Mid-Con Energy Partners, LP has signed two separate agreements to acquire oil properties and additional working interests in Oklahoma for a combined price of approximately $24.1 million, subject to the satisfaction of customary closing conditions and the waiver of preference rights and obtaining necessary consents from third parties.

Additionally, the Board of Directors of its general partner has declared an increase in the cash distribution to $0.485 per unit for the quarter ended September 30, 2012.

Acquisition of Oil Properties

In independent transactions, Mid-Con Energy has agreed to acquire (i) an approximate 71% operated working interest in oil properties, currently under waterflood, in Texas County, Oklahoma and (ii) additional working interests in existing Mid-Con Energy waterfloods located within its Hugoton Basin core area, for a combined price of $24.1 million, subject to the satisfaction of customary closing conditions and the waiver of preference rights and obtaining necessary consents from third parties.

Tags: LP, Mid-Con Energy Partners