Mid-Con Energy Partners (NASDAQ: MCEP) successfully managed its recapitalization. The holders of Mid-Con’s Class A and B units agreed to convert their preferred shares to to common shares at an average price of $3.12. The Texas-based single family office Goff Capital now holds a majority of outstanding shares. Through the transaction, the capital structure of the firm is simplified and corporate governance is strengthened through a new Board of Directors. Mid-Con is an upstream oil and natural gas company which operates assets in Wyoming and Oklahoma – which struggles with the tumbling oil prices.
Goff Capital: Single Family Office from Forth Worth
The new majority shareholder of Mid-Con’s shares is Goff Capital, the Forth Worth-based family office of John Goff. Goff invests in private and public markets. Amongst other, the focus of Goff Capital lies on oil and gas companies. Furthermore, the family office is also active in manufacturing and entertainment.
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