Top 10 Energy Companies To Buy For 2016

Top 10 Energy Companies To Buy For 2016: Midstates Petroleum Company Inc (MPO)

Midstates Petroleum Company, Inc. is an independent exploration and production company. The Company's areas of operation include Pine Prairie, South Bearhead Creek/Oretta, West Gordon and North Cowards Gully. Its Upper Gulf Coast Tertiary trend extends from south Texas to Mississippi across its operating areas in central Louisiana. As of December 31, 2011, it had accumulated approximately 77,100 net acres in the trend. As of December 31, 2011, its development operations are focused in the Wilcox interval of the trend. The Company's business is conducted through Midstates Petroleum Company LLC, as a direct, wholly owned subsidiary. In September 2012, the Company and its subsidiary acquired all of Eagle Energy Production, LLC's producing properties as well as their developed and undeveloped acreage primarily in the Mississippian Lime oil play in Oklahoma and Kansas.

As of December 31, 2011, it drilled 57 gross wells in the trend, approximately 93% of. Duri ng the year ended December 31, 2011, its average daily production were 7,499 barrels of oil equivalent per day. As of December 31, 2011, it had a total of 974 gross vertical drilling locations, including 115 related to acreage under option, in the trend. As of December 31, 2011, the Company's properties included approximately 92 gross active producing wells, 95% of, which it operate, and in which it held an average working interest of approximately 99% across its 77,100 net acre leasehold. During March 31, 2012, the Company continued its drilling program, spudding 14 wells, of which nine are producing, three are being drilled and two are waiting to be completed. As of December 331, 2011, it averaged daily production is approximately 9,000 barrels of oil equivalent per day.

Pine Prairie

The Company's properties in the Pine Prair! ie area represented 46% of its total proved reserves as of December 31, 2011. During 2011, the Company's average produ ction from these properties was 3,793 net barrels of oil equ! ivalent per day, consisting of 2,143 barrels of oil, 565 barrels of natural gas liquidations (NGLs) and 6,508 million cubic feet of natural gas per day. As of December 31, 2011, it held an average working interest and average net revenue interest of 92.2% and 68.9%, respectively, on its acreage in Pine Prairie area. The Company has an additional 194 identified drilling locations in this area based primarily on 10-acre spacing.

South Bearhead Creek/Oretta

The Company's properties in the South Bearhead Creek/Oretta area represented 20.3% of its total proved reserves as of December 31, 2011. During 2011, the Company's average production from these properties was 4,367 net barrels of oil equivalent per day, consisting of 2,196 barrels of oil, 438 barrels of NGLs and 10,396 million cubic feet of natural gas per day. During 2011, these wells produced at an average daily rate of 2,413 net barrels of oil equivalent per day. As of December 31, 2011, it held an average working interest and average net revenue interest of 100% and 78.5%, respectively, on its acreage in South Bearhead Creek/Oretta area. The Company has an additional 43 identified drilling locations in this area based primarily on 40-acre spacing.

West Gordon

The Company's properties in the West Gordon area represented 21% of its total proved reserves as of December 31, 2011. During 2011, the Company's average production from these properties was 1,002 net barrels of oil equivalent per day, consisting of 617 barrels of oil, 68 barrels of NGLs and 1,901 million cubic feet of natural gas per day. As of December 31, 2011, it held an average working interest and average net revenue interest of 95.9% and 71.2%, respectively, on its acreage in West Gordon area. The Company has an additional 74 identified drillin! g locatio! ns in this area based primarily on 40-acre spacing.

North Cowards Gully

The Company's prop erties in the North Cowards Gully area represented 11.5% of ! its total! proved reserves as of December 31, 2011. During 2011, the Company's average production from these properties was 149 net barrels of oil equivalent per day consisting of 103 barrels of oil, 11 barrels of NGLs, and 211 million cubic feet of natural gas per day. As of December 31, 2011, it held an average working interest and average net revenue interest of 94.3% and 71.2%, respectively, on its acreage in North Cowards Gully area. The Company has an additional 95 identified drilling locations in this area based primarily on 40-acre spacing.

Advisors' Opinion:

• [By Ben Levisohn]

  Midstates Petroleum (MPO) has surged 21% to $3.46 after the independent E&P company easily topped analyst earnings forecasts.

  Jamba (JMBA) has tumbled 9% to $11.74 after the juice store missed the Street’s earnings and revenue expectations. Jamba also announced a $25 million share buyback program.

• [By The Energy Report]

  Onshore, my favorite play is the Utica Shale, in which my top plays are Gulfport Energy Corp. (GPOR) and Rex Energy Corp. (REXX). Both companies have highly economic acreage, solid balance sheets and industry-leading production growth. I also like Rex Energy for its likely production upside. Another one of my favorite plays is the Eagle Ford Shale, in which my top plays are Penn Virginia Corp. (PVA) and Sanchez Energy Corp. (SN). Both have core acreage in the region, improving operating results and experienced management. Another favorite name of mine is Midstates Petroleum Co. Inc. (MPO). The company has assets in three solid plays and a management team with a long successful track record. Those are my favorite names at this time.

source from Top Stocks For 2015:http://www.topstocksblog.co! m/top-10-! energy-companies-to-buy-for-2016.html