Kansas Ready for a Boom in Oil Production
Note to Editor: The Following Is an Investment Opinion Issued by Equity News Alert.
NEW YORK, NY -- (Marketwire) -- 04/17/12 -- Investment opinion highlighting Sandridge Energy (NYSE: SD), Chesapeake Energy (NYSE: CHK), Shell Oil (NYSE: RDS-A), and Circle Star Energy (OTCBB: CRCL). As technology advancements improve oil and gas extraction, companies like Sandridge Energy (NYSE: SD), Chesapeake Energy (NYSE: CHK), and Shell Oil (NYSE: RDS-A) have begun sinking money into projects that may not have been financially prudent just a few years ago. Kansas has begun to see the benefits from these technological advances as these companies, as well as junior companies like Circle Star Energy (OTCBB: CRCL) begin to invest capital into the state. The combination of old and new technologies allows producers to extract as much as five to 10 times more oil and gas from a horizontal well than a conventional vertical well.
In an Associated Press article (http://bit.ly/J3eEes) titled "Kansas Prepares for Gold-Rush Style Oil Boom," companies that have already reaped fortunes off the Mississippian Lime Play in Oklahoma are now following the rock formation northward into Kansas, where millions of acres of mineral rights have been leased in the past two to three years.
The race has begun! Sandridge (NYSE: SD) expects to spend over $1 billion dollars on land acquisition and development in 2012 alone, Shell (NYSE: RDS-A) already has exploratory drills operating and plans to have three or four more up this year. Circle Star (OTCBB: CRCL) has recently announced their agreements to lease 71,000 total acres of land in the "Original Mississippian" and "Mississippian Extension" plays, two of the most oil rich areas in the state. "We believe this is a game changer," said Shell spokesman Scott Scheffler. "We hope the Mississippian will be one piece of that."
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