Oil and Gas: Circle Star Energy Increases Its Kansas Footprint to 175,000 Acres
Posted on April 25, 2012 at 09:00 AM EDT
Note to Editor: The Following Is an Investment Opinion Issued by the IO NewsWire
NEW YORK, NY -- (Marketwire) -- 04/25/12 -- Investment Opinion highlighting Devon Energy (NYSE: DVN), Chesapeake Energy (NYSE: CHK), SandRidge Energy (NYSE: SD) and Circle Star Energy (OTCBB: CRCL). Mississippian Lime, which is covered by the states of Oklahoma and Kansas, is receiving a tremendous amount of attention from oil and gas companies looking to cash in on the next big shale play. Eagle Energy CEO Steve Antry has called it, "the hottest play in the country!"
Sandridge (NYSE: SD) has purchased 2 million acres of Mississippian oil and gas properties, Chesapeake (NYSE: CHK) has 1.1 million acres, Circle Star Energy (OTCBB: CRCL) has recently announced the purchase of an additional 111,000 thousand acres in Kansas taking the company to a total of 175,000 acres, while Devon Energy (NYSE: DVN) has 150,000 acres. All indications are that these companies are going to continue acquiring land while looking to bring on significant production from operations aimed at the Mississippian Lime formation. Sandridge alone expects to set up more than 5,000 wells in Kansas.
Circle Star Energy appears to be taking a calculated approach by acquiring tracts of land that they feel they can begin producing on in short order. CEO Jeff Johnson stated, "The contracting of over 175,000 net acres in Northwest Kansas is an important step towards fulfilling the Company's goal of leasing a meaningful acreage position in Northwest Kansas. With this announcement, Circle Star Energy is better positioned to begin the process of focusing on increasing Company revenues via oil production through the drill bit and exploring potential Joint Venture opportunities." To learn more about Circle Star Energy's current projects and recent acquisitions visit www.cirlestarenergy.com.
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