Oil and gas producer Midstates Petroleum Co. Inc. raised doubts about its ability to remain as a going concern and said it may need to seek chapter 11 protection, Reuters reported yesterday. Midstates Petroleum said yesterday that it had engaged financial and legal advisers to analyze strategic alternatives to address its liquidity and capital structure. Oklahoma-based Midstates had total debt of about $1.8 billion as of Feb. 26, excluding outstanding borrowings under its credit facility. The company had cash and cash equivalents of about $81 million as of Dec. 31.
