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SandRidge celebrates 5th anniversary

SandRidge Energy Inc. celebrated its fifth anniversary and its conversion to a company focused on oil production.
BY JAY F. MARKS Published: September 17, 2011

“That's an incredible feat and one I don't think has ever been done before,” he said.

He expects SandRidge to meet its growth goals because of its asset base.

When the company turned its focus to oil, officials decided to buy into the most productive part of Texas' Permian Basin, which has been producing oil for 80 years.

“We focused on the best of the best,” Ward said. “It has produced the most oil in the smallest area of any place in the United States.”

He said the recession that began in 2009 actually helped SandRidge, as it was able to acquire acreage that wouldn't have been available if the economy had been in better shape.

SandRidge focuses on shallow reservoirs with a proven track record of production that can be accessed through conventional drilling methods.

Ward said the Mississippian play in northern Oklahoma and southern Kansas fits that bill as well.

SandRidge still is amassing acreage in the area, which Ward said could become the next big oil play in the United States.

He said the play will boost other companies as much as SandRidge, making it likely that more producers will choose to make their home in Oklahoma City.

“We think the natural home for those companies will be Oklahoma City in the next 20 years,” he said.