HOUSTON--(BUSINESS WIRE)--Midstates Petroleum Company Inc. announced today the pricing of its initial public offering of 24,000,000 shares of its common stock at $13.00 per share. The shares are expected to begin trading on the New York Stock Exchange on April 20, 2012 under the ticker symbol “MPO.” The Company is selling 18,000,000 shares of its common stock and the selling stockholders named in the registration statement are selling 6,000,000 shares of the Company’s common stock. In addition, the selling stockholders have granted the underwriters for the offering a 30-day option to purchase up to an additional 3,600,000 shares of the Company’s common stock at the same price per share. The offering is expected to close on April 25, 2012, subject to customary closing conditions.

Midstates Petroleum focuses on oilfields in the Upper Gulf Coast Tertiary trend onshore in central Louisiana.

Midstates intends to use the net proceeds from the offering to redeem preferred units that were previously issued by an affiliate of the Company and to repay a substantial portion of its outstanding indebtedness under the Company’s revolving credit facility. Midstates will not receive any proceeds from the sale of shares by the selling stockholders.

Midstates is owned by funds affiliated with First Reserve Corporation a leading global investment firm dedicated to the energy industry and management.

Goldman, Sachs & Co., Morgan Stanley & Co. LLC and Wells Fargo Securities, LLC are acting as joint book-running managers for the offering.