SandRidge Pays A Compliment to "The Bakken"

Link here.

Tom Ward, Chairman and CEO, stated, "We are excited to announce this Joint Venture with Repsol, a global energy leader, and we are pleased that they share our confidence in the development potential of this vast Mississippian oil play. We compare the scope of this play to the Bakken and believe it will be transformational for the Mid-Continent region of the United States. SandRidge has led the way in developing the Mississippian Play and has now drilled more than 195 horizontal wells, representing nearly half of all the horizontal wells drilled in the play to date.   

SandRidge Energy, Inc., announced today that it has entered into a joint venture with a subsidiary of Repsol YPF, S.A., a leading international energy company based in Madrid, Spain. Under the agreement, SandRidge will sell an approximate 25% non-operated working interest, or 250,000 net acres, in the Extension Mississippian play located in Western Kansas and an approximate 16% non-operated working interest, or 113,636 net acres, in its Original Mississippian play. 

I've said many, many times, the Bakken is much more than just the production. It truly was a tight oil/shale oil/unconventional oil laboratory. In addition, it showed (and is showing) just how much can get accomplished when surface owners, mineral owners, oil companies, the regulating bodies, etc., work together to solve problems. It will be interesting to see if the success can be duplicated in western Kansas.

I sincerely hope it can (be duplicated).

Success in this new play will further validate what the folks in the Bakken have done, and will further lead the US down the road of energy independence.

"Anon 1" has provided the link to the specifics of this joint venture in western Kansas (a PDF file:
http://media.corporate-ir.net/media_files/irol/19/196066/SandRidge-Announces-Mississippian-Joint-Venture.pdf).