Company Overview

Mid-Con Energy and RDT Properties, Inc. (operating subsidiary/arm) are committed to exploitation of existing mature oil fields using enhanced recovery techniques to increase oil production and provide value to shareholders.

RDT Properties, Inc. operates over 400 wells in Oklahoma, Kansas, Colorado, Arkansas, Louisiana and North Dakota. We currently have 16 waterflood unit projects operating, co-operating, or in the process of unitization.

RDT Properties, Inc. began in 1986 for the purpose of purchasing and operating mature waterfloods in northeastern Oklahoma. Originally developed in the 1970s, the Cushing and Cleveland fields are Bartlesville waterfloods and were mature when purchased. RDT was able to manage these existing floods and to reduce operating expenses, which has prolonged the economic life of the operations. RDT also started new floods in the Cushing Field Layton Sand and the Cleveland Field Skinner Sand. Recognizing an opportunity to purchase mature oil fields as many other companies were focusing on offshore and natural gas plays, the principals of RDT obtained financing to found Mid-Con Energy.

Mid-Con Energy Corporation was formed specifically for the development of secondary oil and gas reserves in July 2004 by Randy Olmstead upon partnering with Yorktown Partners who provided capital. Mid-Con seeks to expand production by acquisition and exploitation of mature oil properties. Due to the experience and skills of the staff, Mid-Con/RDT has a focus on creating new waterflood projects in addition to development drilling and exploitation of behind pipe reserves.

Yorktown Partners agreed to another round of investment, and on June 30, 2009, Mid-Con Energy Corporation was converted to Mid-Con Energy I, LLC and Mid-Con Energy II, LLC was formed. At a time when many companies in the industry are reducing staff and selling off assets, RDT and Mid-Con are poised and ready to take on new projects and new challenges.

Due to the value of oil in our global economy, prospecting is a central effort of our technical staff, including geologists, engineers, and landmen. With many oil and gas companies focusing on the unconventional gas and offshore drilling, there are opportunities to acquire mature oil fields for the purpose of secondary recovery. There are many factors that must be taken into account when evaluating a potential secondary recovery project and our staff is particularly equipped to do so. It is a key ingredient to our company’s success to continue to grow our reserves by identifying, evaluating and purchasing properties that can become new waterflood projects.

(Pictured: back row – Nick Abbott, Traci Harvel, Annie Houchin; front row – Lisa Ingle, Jim McGhay)


After a prospect has been identified, we must gain a position within the play by leasing, acquisition, or partnering. We are experienced at communicating with mineral, surface and leasehold owners and negotiating a plan to develop the remaining primary and future secondary reserves. Mid-Con has the proficiency to guide the prospect through the unitization process. The land and title work involved in preparing a field for unitization is complex and complicated. Each state regulatory body has its own rules and regulations regarding the unitization of a field and the integration of its many owners. Our staff has supervised the formation of units in several states including Oklahoma and Arkansas.

(Pictured: Rhonda Stacy, Rex McPhail)

One of the most unique and valuable resources of our company is the Optimization Team. Secondary recovery operations require knowledge of reservoir properties and mechanics to recover additional reserves through enhanced recovery techniques. As a flood is established and injection of water begins; tracking, evaluating and predicting responses to the injection pattern is indispensible. Accurately predicting how a reservoir is responding or will respond to an injection pattern has given Mid-Con an advantage in creating successful waterfloods.

(Pictured: Robbin Jones, Jeff Pankow, Jim McGhay, Heather Shipley)