OUR AREAS OF OPERATION – MID CONTINENT
In October 2012, Midstates completed the acquisition of producing properties and developed and undeveloped acreage in northwest Oklahoma,located primarily in the Mississippian Lime trend from Eagle Energy Production, LLC.
The majority of the acreage in the Mississippian Lime is concentrated in what Midstates believes to be the core of the play in Woods and Alfalfa Counties in northwestern Oklahoma. The attractive economics of the play are supported by high oil and NGLs content and competitive drilling and completion costs due to the relatively shallow nature of the carbonate-rich formation. We plan to continue an active horizontal drilling program on the newly acquired properties focusing primarily in Woods and Alfalfa Counties in Oklahoma.
In May 2013, Midstates completed the acquisition of producing properties as well as undeveloped acreage in the Anadarko Basin in Texas and Oklahoma from Panther Energy, LLC and its partners.
The primary target of our drilling activities will be the Cleveland with additional rigs dedicated to the Marmaton, Cottage Grove, and Tonkawa formations with depths ranging from 6,000 to 8,000 feet. The Company believes there is additional upside in the deeper lower Pennsylvanian and Mississippian sections. The assets offer multiple years of drilling inventory with attractive rates of return due to their liquids weighted production profiles and low costs of drilling.