SandRidge Buys into the Niobrara

SandRidge Energy is acquiring the assets of privately-held EE3 in the Niobrara Shale for $190 million in cash, Kallanish Energy learns. With the deal, independent producer SandRidge said it will have a material, de-risked Niobrara Shale position in the North Park Basin in Jackson County, Colorado. The 136,000 acres acquired is largely concentrated in a rural areas “ideal for pad drilling and efficient infrastructure installation.” “Expanding into a proven, high quality, repeatable oil play leverages our core competencies in medium depth horizontal drilling, unconventional development, infrastructure, and cost reduction,” said James Bennett, SandRidge CEO. “We will be mobilizing to spud our first well in January. The buy includes a large, concentrated acreage position in Niobrara Shale play that has five stacked benches at depths of 5,500 to 9,000 feet, reservoir thickness over 450 feet, oil in place greater than 55 million barrels per section and an overpressured reservoir,
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