SandRidge is benefiting from move to oil
Oklahoma City-based SandRidge Energy Inc. is prospering thanks to its transition to crude oil production.
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Other companies have secured Mississippian leasehold in Nebraska, as well, but SandRidge is the clear leader.
Ward said SandRidge has drilled 500 horizontal wells in the Mississippian, nearly half of the new wells drilled in the play.
SandRidge has 32 rigs at work in the play, which covers about 17 million acres, according to historical data studied by the company's geological teams.
Ward said SandRidge still is working on a relatively small area between Noble County in Oklahoma and Finney County in Kansas.
“We have thousands of locations left to drill,” he said.
“In fact we're long on opportunity, (which is) why we've brought in two partners so far.”
SandRidge inked deals last year worth $1.5 billion with Spain's Repsol YPF and South Korea's Atinum Partners Co. Limited.
“We were able to sell some of our acreage to help us fund our drilling program through 2014,” Ward said.
He said those investments helped SandRidge grow by about 40 percent over the past year.
“We see tremendous growth continuing through the play, depending on how much capital we spend,” Ward said. “We think we can grow double digits for many years to come.”