Oil Stocks: Mississippian Lime, a Vast US Energy Source
NOTE TO EDITORS: The Following Is an Investment Opinion Being Issued by the OTC REPORT.
NEW YORK, NY -- (Marketwire) -- 05/01/12 -- Investment opinion highlighting ConocoPhillips (NYSE: COP), Circle Star Energy (OTCBB: CRCL), Halliburton (NYSE: HAL) and SandRidge Energy (NYSE: SD). In an InvestorPlace article on the US Mississippian Lime play in Oklahoma and Kansas, the once dry region is being revisited to uncover an abundance of energy resources.
Lime, which isn't made of shale, could be the biggest source of domestic oil since the rediscovered Bakken shale of North Dakota. And for investors, getting in now could be the key to long-term profits. ConocoPhillips (NYSE: COP) and its predecessor companies saw production for over 5 decades in Mississippian Lime before conventional techniques were no longer feasible. Advanced horizontal and hydraulic drilling styles that are revolutionizing America's shale formations are now being applied to limestone rock. The limestone, which is more porous and cheaper to drill than other plays will also help Halliburton (NYSE: HAL), an oilfield service company, which has warned about a backlog of high-powered pumps needed for denser rock formations.
The region's rebirth is still young, and investors can find plenty of opportunities to profit. Leading the way is top producer, SandRidge Energy (NYSE: SD). The company has been aggressive in gathering assets in the region and currently owns more than 1.5 million acres. SandRidge (NYSE: SD) has identified more than 7,000 potential horizontal drilling locations and plans on tapping approximately 380 of them during 2012.
Circle Star Energy (OTCBB: CRCL) has announced a recent acquisition of 111,000 acres, bringing their total to 175,000 acres leased in Kansas where the company will target the Mississippi Lime formation. The Company will receive, as part of these new acquisitions, approximately 40 square miles of 3D seismic and 100% operated working interest in an oil well producing from the Kansas City-Lansing formation, which sits above the Kansas Mississippian. To learn more about this project visit www.circlestarenergy.com.
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