Technological Drilling Advances Revive Kansas Oil Boom
Posted on April 19, 2012 at 09:00 AM EDT
NOTE TO EDITORS: The Following Is an Investment Opinion Being Issued by the CENTURY CAPITAL MARKETS
NEW YORK, NY -- (Marketwire) -- 04/19/12 -- Investment opinion highlighting Shell Oil (NYSE: RDS-A), Sandridge Energy (NYSE: SD), Chesapeake Energy (NYSE: CHK), and Circle Star Energy (OTCBB: CRCL). New technologies that bring life to old oil fields have prompted large and smaller oil companies to buy up leases on hundreds of thousands of acres in Kansas. Shell (NYSE: RDS-A), Chesapeake (NYSE: CHK), and SandRidge (NYSE: SD) and smaller junior exploration companies like Circle Star Energy (OTCBB: CRCL) have made significant purchases in the state over the past 2 years.
Dean Pattison, exploration and production manager for Woolsey Operating Co estimated that out-of-state companies have spent $2 billion on land leases in Kansas in 2011, lease prices have risen 10 to 100 times in certain areas. Shell's (NYSE: RDS-A) purchase of two large lease tracts in the state mark the first time in 2 decades that they have been in the state, and more companies are expected to follow.
The geological formation the companies are mining is a layer called the Mississippian limestone. Mississippian limestone covers most of Kansas and stretches south into Oklahoma, where the layer is thicker and oil has been extracted before. CEO of Circle Star Energy (OTCBB: CRCL), Jeff Johnson has stated, "Our ongoing efforts in pursuit of a significant land position in Kansas continue to move forward with today's announcement (the recent purchase of 64,000 acres in Kansas). This emerging new play provides extraordinary upside potential for Circle Star shareholders as has been made clear in recent months through the participation and success of other players in the region." For more information visit www.circlestarenergy.com
This report is for information purposes only, and is neither a solicitation to buy nor an offer to sell securities. Information, opinions and analysis contained herein are based on sources deemed to be reliable and are subject to change without notice. A third party has hired and paid Century Capital Markets one thousand two hundred and ninety five dollars for the publication and circulation of this news release. Accordingly, certain information included herein may be forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. However, no representation, expressed or implied, is made as to the accuracy, completeness or correctness. In light of the above, we accept no liability for any losses arising from an investor's reliance on or use of this report. We do not and have not had any ownership interest in said third party of any kind.
Century Capital Markets
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