Oklahoma: Firms join Mississippian horizontal play

By OGJ editors
HOUSTON, May 26
– Slawson Exploration Co. Inc. and US Energy Development Corp. have acquired 45% and 30% interests, respectively, in the Nemaha Ridge project in Oklahoma held by Osage Exploration & Development Inc., San Diego.

Proceeds are $4.875 million plus a 10% net carry on the first three horizontal Mississippian wells, Osage said. Osage holds more than 10,000 acres in Logan County, Okla., on the east side of the Nemaha Ridge where the Mississippian carbonate has been developed for oil through vertical wells.

Slawson, which has drilled more than 150 horizontal Bakken wells in the Williston basin, becomes operator of the Nemaha Ridge project. US Energy is one of the largest operators in New York and Pennsylvania and has drilled more than 2,500 wells since 1980 in eight states and Canada.



Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...