Houston-based Midstates Petroleum Company, Inc. (NYSE: MPO) announced they are moving their headquarters to Tulsa, Oklahoma and hiring a new senior executive.
Midstates hired Mark Eck to start on December 29th as the company’s executive vice president and COO. Eck was recently the vice president of Tulsa-based Samson Resources.
Midstates noted in a Securities and Exchange Commission (SEC) quarterly report that the transition of the headquarters to Tulsa will take place in early 2015. Midstates CEO Peter Hill states, “Mark will be an integral part of the leadership team as we transition our headquarters to Tulsa.”
The report also says the company is developing transition plans, including retention and severance packages for employees who will not be making the move. “As part of the relocation, severance and retention plans, there will likely be an increase in general and administrative expenses in the fourth quarter of 2014 and the first quarter of 2015,” according to the report.
Founded in 1993, Midstates Petroleum Company, Inc. is an independent exploration and production company focused on the application of modern drilling and completion techniques to oil/liquids-prone resources in previously discovered yet underdeveloped hydrocarbon trends.