Atlas CEO on Miss. deal We’re equally excited about our entry into the Mississippi Lime play where we had targeted certain regions within the play as optimal entry points. The acreage position that we entered into in Alfalfa, Grant and Garfield Counties is one of those areas, perhaps the best.
For example, SandRidge, which has drilled nearly 300 of the more than 600 horizontal wells drilled to date in the Mississippi Lime formation, announced that they had recently completed the Mississippi Lime horizontal in Alfalfa County, and that an average 30-day IP rate of 2,200 barrels of oil equivalent per day is 92% oil. SandRidge believes that this is the third-highest 30-day rate oil well drilled in the United States in the last three years.
Very exciting for those of us with acreage concentrations in the area, but the potential quality of the geology is only one of the several reasons that we were attracted to the area. The acreage that we acquired benefits from developed infrastructure, including salt water disposal, electrical grid and developed natural gas liquids takeaway and processing capacity. Because of this, we’ll commence our drilling operations on this acreage in the current quarter.
Another benefit, much like our Barnett acquisition, the vast majority of our Mississippi Lime acreage benefits from its held-by-production status. We anticipate expanding our acreage position in this very attractive oily area of the Mississippi Lime.
https://seekingalpha.com/article/570461-atlas-energy-s-ceo-discusses-q1-2012-results-earnings-call-transcript
Regards,
Nawar