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Mid-Con Energy Partners, LP Suspends Quarterly Cash Distribution and Schedules Third Quarter 2015 Earnings Release and Conference Call

DALLAS, Oct. 22, 2015 (GLOBE NEWSWIRE) -- Mid-Con Energy Partners, LP (NASDAQ:MCEP) (“Mid-Con Energy” or the “Partnership”) announces that the Board of Directors of its General Partner has elected to suspend the Partnership’s current $0.125 per unit quarterly cash distribution.

“In light of the current weak and increasingly uncertain outlook for oil prices, the Board of Directors has elected to suspend Mid-Con Energy’s quarterly cash distributions to unitholders,” commented Randy Olmstead, Executive Chairman of the Board. “I am disappointed that current market conditions merit such a difficult decision; however, the Board of Directors and senior management team unanimously agree that reallocating excess cash flow towards capital expenditure projects and debt reduction is prudent and maximizes long-term value for unitholders. We anticipate this suspension will be temporary and intend to reinstate quarterly distributions when our outlook for oil prices is more constructive.”

THIRD QUARTER 2015 EARNINGS

Mid-Con Energy’s preliminary results indicate production for the quarter ended September 30, 2015, exceeded 4,800 Boe/d, the highest average daily net production in the Partnership’s history. These results reflect sequential and year-over-year increases greater than 4% and 55%, respectively. Mid-Con Energy will release results for the third quarter ended September 30, 2015, after the market close on Monday, November 2, 2015. Management will host a conference call on Tuesday, November 3, 2015, at 9:00 a.m. ET. Interested parties are invited to participate via telephone by dialing 1-877-847-5946 (Conference...


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