Mississippi Lime Acreage Reportedly Selling for over 4K an Acre
Oil and Gas 360 reports that recent deals in the Mississippi Lime have been going for upwards of $4,000 per acre. In August 2011, SandRidge Energy (NYSE: SD) entered into a JV with an affiliate of Atinum Partners Co in which Antium paid $4,425 per acre for a 13.2% non-operated WI in SD’s 860,000 acres. Companies such as Range Resources (NYSE: RRC) and SandRidge Energy own acreage positions near PQ’s recently acquired acreage in Pawnee County, Oklahoma, as well as PQ’s acreage in Grant County, Oklahoma and Sumner County, Kansas. Both Range Resources and SandRidge have reported EURs on their acreage between approximately 400,000 and 500,000 BOE EURs with well costs of approximately $3.0 million per well.
