Mississippian Lime – another name to watch
This discussion sounds like it’s about Williston, North Dakota:
Oil rigs are springing up in farmers’ fields. “No vacancy” signs hang in the windows of local motels, and a steady stream of trucks barrel through Main Streets. Along the state’s southern border, the once-quiet farm towns are quickly transforming into boomtowns.
Hundreds of workers seeking high-paying jobs are flocking to places like Harper County, which had resorted to paying people to live there because of its declining population. Businesses are coming back from the dead and a housing shortage has caused rents to triple.
That is actually a description of what’s going on in south central Kansas, according to CNNMoney’s article Oil boom strikes Kansas.
One of the companies exploring there, SandRidge Energy, drilled 10 wells last year and hit no dry holes.
The potential is huge. Look at SandRidge’s estimate. Granted it is just their estimate, but they are betting the cost of 130 wells on the potential:
SandRidge Energy, which holds the most horizontal drilling permits in Kansas, estimates there are about 15 billion barrels of recoverable oil in this part of Kansas. The company plans to drill 130 wells in the state by the end of the year — up from 10 last year.
The article reads a little choppy. The headers for each section (I don’t know the technical name) don’t fit with the paragraphs that follow, but the content is good.
I previously mentioned Mississippian Lime here.
Hat tip: Carpe Diem, of course.