MID-CON ENERGY PARTNERS, LP (NASDAQ:MCEP) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02
MID-CON ENERGY PARTNERS, LP (NASDAQ:MCEP) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Effective July 24, 2019, Mid-Con Energy GP, LLC (the “General Partner”) the general partner of Mid-Con Energy Partners, LP (the “Partnership”) appointed Chad B. Roller, Ph.D., 42, as Chief Operating Officer of the General Partner.
Dr. Roller will receive salary and benefits, and will participate in the Partnership’s Long Term Incentive Program and Change in Control Severance Plan, at levels commensurate with his employment grade level and position.
Since 2012, Dr. Roller has held a number of positions of increasing responsibility with Mid-Con Energy Operating, LLC, including most recently as Vice President of Development and senior reservoir engineer.
On July 29, 2019, Mid-Con Energy Partners, LP (the “Partnership”) issued a press release announcing a cash distribution for its Class A and Class B Convertible Preferred Units (the “Preferred Units”) as further described below and in the press release. The Partnership also announced the appointment of Mr. Roller as Chief Operating Officer of the General Partner. Additionally, the Partnership announced it will release its financial and operating results for the second quarter ended June 30, 2019, after the market close on Wednesday, July 31, 2019. The Partnership will host a conference call on Thursday, August 1, 2019, at 9:00 a.m. Eastern Standard Time (8:00 a.m. Central Standard Time). A copy of the press release is furnished as Exhibit 99.1 hereto and is incorporated herein by reference.
The information disclosed in this Form 8-K, including Exhibit 99.1, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the Exchange Act), or otherwise subject to the liabilities under that section, nor shall they be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act except as expressly set forth by specific reference in such filing.
On July 29, 2019, the Partnership issued a press release announcing that the Board of Directors of its general partner declared a cash distribution for: (1) its Class A Convertible Preferred Units for the second quarter of 2019, a cash distribution of $0.0430 per Preferred Unit and (2) its Class B Convertible Preferred Units for the second quarter of 2019, a cash distribution of $0.0306 per Preferred Unit, according to terms outlined in the Partnership Agreement. Such cash distributions will be paid on August 14, 2019 to holders of record as of the close of business on August 7, 2019.
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Mid-Con Energy Partners, LP Exhibit About MID-CON ENERGY PARTNERS, LP (NASDAQ:MCEP) Mid-Con Energy Partners, LP is engaged in the ownership, acquisition, exploitation and development of producing oil and natural gas properties in North America, with a focus on enhanced oil recovery (EOR). The Company’s properties are located in the Mid-Continent and Permian Basin regions of the United States in over five areas: Southern Oklahoma; Northeastern Oklahoma; parts of Oklahoma, Colorado and Texas within the Hugoton; Texas Gulf Coast, and Texas within the Eastern Shelf of the Permian. The Company operates approximately 100% of its properties, as calculated on a barrel of oil equivalent (Boe) basis, through its affiliate, Mid-Con Energy Operating, LLC (Mid-Con Energy Operating). The Company designs and manages the development, recompletion or work-over for all of the wells it operates and supervises operation and maintenance activities. Mid-Con Energy Operating provides the Company with management, administrative and operational services under a services agreement. |