http://seekingalpha.com/article/866271-chesapeake-energy-3-3-billion-permian-asset-sale-disappoints
This is sheer speculation on my part, but I wonder if the Permian Basin Mississippian Carbonate Play is a strong factor in the decision to keep 470,000 net mineral acres in the Midland Basin?
Ralpr
Drillinginfo.com - Target Energy goes even further down under by Matt Menchaca
Lower in the stratagraphic column is the Fusselman carbonate formation hereby getting more attention in the Midland Basin of Texas. Maybe it will be the Fusselman plus the Wolfberry = Fusselberry?
Regards,
Ralpr
After you select the website below, go to the right side and move down to WOODFORD.
There are some very interesting maps about the Woodford play. I noticed the XTO activity NE of Ardmore:)
BusinessWire article - very interesting!
Mesa Energy Holdings, Inc. Acquires Acreage Position in the Mississippian Limestone Play. "Woodford Shale (formation immediately below the MS LS) appears to be oil-bearing and is ~ 50-80' thick."
How about that?
Ralpr
Merry Christmas!!! My news is that I can’t wait for more information about the Mississippian Carbonate Play to come in from the Permian Basin - and as the play keeps expanding across our great country! It might be this year, but I am thinking next year. At any rate, there is lot known - it just has not been released yet! It will be very, very interesting as in interesting all the way to the bank let’s hope!
Joy Ralpr
SandRidge to Sell Permian Basin Oil Assets for $2.6 Billion By Mike Lee December 19, 2012 6:15 PM EST Facebook Twitter LinkedIn Queue SandRidge Energy Inc. (SD), the energy producer that has been fighting shareholder calls to break up the company, agreed to sell assets in the Permian Basin to Sheridan Production Partners II for $2.6 billion. Sheridan, a closely-held producer based in Houston, will pay cash, SandRidge said today in a news release. SandRidge, based in Oklahoma City, produces about 24,500 barrels of oil equivalent a day from 225,000 acres in the Permian’s Central Basin Platform. The sale price exceeds an estimate from John Gerdes, a Canaccord Genuity analyst based in Houston who said in a Dec. 17 note to clients that the acreage might fetch $2.5 billion. “The sale of the Permian assets at this time has allowed us to capitalize on current strong valuations for mature, conventional Permian assets,” SandRidge Chief Executive Officer Tom Ward said in the statement. The transaction is expected to close in the first quarter of 2013. SandRidge will use the proceeds to pay debt and fund drilling at its Mississippian Lime fields in Oklahoma and Kansas, according to the statement. The deal makes SandRidge “more of a bet on the Horizontal Mississippian,” said Jason Wangler, an analyst at Wunderlich Securities Inc. in San Francisco. “If that play works, so does SandRidge,” he said. Wangler rates SandRidge a buy and doesn’t own any of its shares. SandRidge announced the sale after the close of regular trading in New York. SandRidge rose 8.8 percent to $7.07 in late trading after closing at $6.50 in New York. SandRidge’s managers believe “all shareholders should conclude that this is a great outcome for them,” Greg Dewey, a spokesman, said in response to e-mailed questions. “We are simply doing what we said we would do, staying true to our brand and doing things quickly and efficiently and once again making a move that creates tremendous value for the Company and its shareholders.” SandRidge shares have fallen this year as shareholders including TPG-Axon Capital Management LP and Mount Kellett Capital Management LP call for the company to put itself up for sale. TPG-Axon, the hedge fund run by former Goldman Sachs (GS) banker Dinakar Singh, has called for a shareholder vote on replacing SandRidge’s board of directors. TPG owns 6.5 percent of SandRidge, and Mount Kellett owns 4.5 percent, according to data compiled by Bloomberg. SandRidge should avoid “any hasty strategic actions, such as the precipitous sale of the Permian assets,” until a new board can be seated, Mount Kellett Chief Operating Officer Jonathan Fiorello said in a Nov. 15 letter. He estimated the Permian acreage may be worth $4 billion. Wangler said the sale may help SandRidge win over shareholders, since it will allow the company to reduce its debt. Other analysts have criticized the sale because it would increase SandRidge’s reliance on lower-profit natural gas. “Regrettably, a Permian sale does not improve SandRidge’s long-term financial standing,” Gerdes wrote in his note. Selling the assets at $2.5 billion would have funded the company through through 2014, and SandRidge would outspend its cash flow by $1.2 bilion a year from 2014 to 2017, Gerdes wrote. He said in an interview he hasn’t had time to review his calculations based on SandRidge’s higher sales price. To contact the reporter on this story: Mike Lee in Dallas at mlee326@bloomberg.net To contact the editor responsible for this story: Susan Warren at susanwarren@bloomberg.net
Motley Fool article - FYI Better Know an Energy Play: Anadarko Basin By Tyler Crowe and Chris Neiger | More Articles January 10, 2013 | Comments (0)
Ralpr – excellent article; good news for those of us with interests in that region. Thanks for the link.
You’re welcome!
I thought you'd like this:
http://soc.li/erKcXaH
Kabe Exploration names Fortune Oil & Gas as operator for Mississippian Lime oil development
Kabe Exploration Inc. announced Jan. 16 that Fortune Oil & Gas Ltd. will be the operator in a proposed development of up to 50 horizontal oil wells in the Mississippian Lime play in Cowley County, Kansas.
http://www.mineralrightsforum.com/profiles/blog/list?promoted=1&xg_source=msg_feat_blogpost
Here’s my blog on the Mississippian Carbonate (Limestone) Play and the extension of that if one includes Precambrian formations (about along the same trend).
Regards,
RNS
http://m.fool.com/investing/general/2013/02/23/why-you-should-pay-attention-to-this-texas-oil-pla
Great article on the Permian Basin. It doesn’t mention the Mississippian Carbonate/Limestone, but I think the Miss. is like an Ace in the Hole in the Permian Basin!
Enjoy,
Ralpr
7:48 AM Chesapeake Energy (CHK) sells a 50% interest in its Mississippi Lime play to Sinopec for $1.02B in cash. CHK -0.5% premarket. (PR) Read comments
CHK price at time of publication: $20.50. Check CHK price now »
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Texas leads the way. Forbes article - FYI Cheers, Ralpr
Does anyone have any current news?
Check out the most recent investor presentations from Osage, Sundance, Devon, etc to see what is happening. They have excellent maps-especially Osage and Sundance.
Be ready for earthquake damage in this water soluble formation.
Barnett Shale Mississippian Limestone Play?
Hello, Is there any Exploration and Production going on in the Permian Basin for Barnett or Mississippian Limestone formations? What is the technical problem preventing this, besides price of oil? The info in the hyperlink above piqued my curiosity!
Thanks!
Ralpr
