Source: Osage Exploration and Development
Osage Exploration and Development, Inc. (OTCBB:OEDV) has been acquiring a significant acreage block along the Nemaha Ridge in Oklahoma that is prospective for production out of the Mississippian formation.
“Our intent has been to participate in the horizontal Mississippian play that is running throughout Oklahoma which has many companies scrambling to acquire acreage. The strong economics of the play, coupled with Oklahoma’s infrastructure and availability of expertise makes this an attractive opportunity for Osage. We began to acquire acreage on advantageous terms months ago along the Nemaha Ridge, and now we find ourselves with a dominant position in our chosen area. Acquiring blocks of land is difficult in Oklahoma and requires a lot of individual transactions. Our land staff has been exceptionally dedicated and hardworking on our behalf,” stated Kim Bradford, Chairman and CEO.
“Up until now we have been able to acquire over 7,000 net mineral acres, with more coming every day. We are absolutely committed to this area and believe this geology is superior to anything we have found elsewhere to date, including the Eagle Ford and others. Once we finish building our land position, we will seek to bring in an industry partner to jointly develop the project with us,” stated Greg Franklin, Director and VP Exploration.
“If you look at what SandRidge Energy, Chesapeake Energy, Inc., Range Resources and other public and private companies are saying about the horizontal Miss, you will understand our level of excitement,” concluded Kim Bradford, Chairman and CEO.
About Osage Exploration and Development, Inc.
Based in San Diego, California with production offices in Oklahoma City, Oklahoma, and executive offices in Bogotá, Colombia, Osage Exploration and Development, Inc. is an independent exploration and production company with interests in oil and gas wells and prospects in the US and Colombia.
