Midstates Petroleum files bankruptcy

Midstates Petroleum Co. Inc. and Midstates Petroleum LLC, Tulsa, have filed for voluntary bankruptcy and will reorganize under a prearranged financial restructuring.

The company expects to conduct business as usual during bankruptcy proceedings.

The independent producer focuses on oil fields in the Mississippian Lime play in Oklahoma and the Anadarko basin in Texas and Oklahoma. It also has operations in the Upper Gulf Coast Tertiary trend of central Louisiana.

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