Mid-Con Energy Partners LP, Dallas, through its wholly owned subsidiary Mid-Con Energy Properties LLC, reported that it has entered into a definitive agreement to sell oil and natural gas assets in the Hugoton area for $18 million. The assets are being acquired by an undisclosed and unaffiliated buyer.
The effective date of the divestiture is May 1 and closing is expected to occur on or before July 29.
The Partnership will divest the entirety of its Hugoton area, which as of Dec. 31, 2015, was comprised of 70 producing wells, 45 injection wells, 5 water supply wells, and 86 inactive wells. Total proved reserves at yearend were 3.2 million boe. Average net production during December 2015 was 682 boe/d.