Midstates Petroleum Company, Inc. (“Midstates” or the “Company”) (NYSE:
MPO) today issued the following response to SandRidge Energy Inc.’s
(“SandRidge”) (NYSE: SD) statements made earlier today.
SandRidge today issued a statement with a reference to Midstates that is
inaccurate. While SandRidge has offered a non-disclosure agreement
(“NDA”) to Midstates, it would require Midstates to enter into a
standstill, which is an unusual requirement for a party that has made a
public offer. Furthermore, SandRidge has informed Midstates that it will
not provide Midstates with internal forecasts that it is providing other
process participants even if Midstates were to sign the NDA offered by
Also, in a June 4, 2018 filing, SandRidge made the claim that “SandRidge
sought to engage in negotiations with Midstates regarding the proposal,
but was rebuffed.” Although Midstates encouraged SandRidge to make a
counteroffer to our proposal, SandRidge refused and rejected our offer.
About Midstates Petroleum Company, Inc.
Midstates Petroleum Company, Inc. is an independent exploration and
production company focused on the application of modern drilling and
completion techniques in oil and liquids-rich basins in the onshore U.S.
The Company’s operations are currently focused on the oilfield in the
Mississippian Lime play in Oklahoma.
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