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Midstates Petroleum to pay down revolver borrowings via assets sale
By Tali Rackner
Norfolk, Va., March 10 – Midstates Petroleum Co., Inc. plans to pay down a portion of the outstanding borrowings under its revolving credit facility with the proceeds from the $44 million sale of its Dequincy assets located in Louisiana, according to a press release.
Proceeds will also be used for general corporate purposes.
Houston-based Midstates Petroleum is an independent oil and gas exploration and production company.
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