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SandRidge to let its oil leases expire on much of its acreage in Oklahoma, Kansas Published: March 22, 2014

A lot of land will hit the oil-lease market this year, the Wichita Eagle reports.

SandRidge Energy has said it will allow leases on about 700,000 gross acres of land in Kansas and Oklahoma to expire this year, and hundreds of thousands of acres more in 2015, 2016 and 2017.

It said in a filing with the U.S. Securities and Exchange Commission last month that it has 1,026,000 gross acres set to expire this year in northern Oklahoma and southern and western Kansas. The company said it expects to hold on to about 30 percent of that by either paying to exercise the options or by holding them by producing oil and gas.

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