Midstates Petroleum pays down some revolver debt, scraps bridge loan

By Susanna Moon

Chicago, May 1 - Midstates Petroleum Co., Inc. said it paid off some debt under its revolving credit facility and terminated plans for a $125 million bridge facility.

The company used proceeds from its $170 million sale of ownership interest in Evangeline Parish, La., to a private buyer, according to a company press release.

Proceeds also will be used for working capital.

Houston-based Midstates Petroleum is an independent oil and gas exploration and production company.

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