We are a pure play Mid-Continent independent energy company engaged in the exploration, development and production of oil, condensate, natural gas and NGLs. We hold a concentrated acreage position in what we believe to be the core of the STACK Play, an area of central Oklahoma which is home to multiple oil and natural gas-rich reservoirs including the Meramec, Oswego, Osage, Woodford and Hunton formations.
We believe the STACK Play is one of the most economic plays in North America. It is a horizontal drilling play in an area of previously drilled vertical wells with multiple productive reservoirs that are predominantly oil producing. The STACK Play encompasses all or parts of Blaine, Canadian, Garfield, Kingfisher and Major counties in Oklahoma. STACK is an acronym for Sooner Trend Anadarko Canadian Kingfisher.
The STACK Play is currently one of the most active horizontal plays in North America and is in the early stages of development. Operated and non-operated drilling activity within and near our acreage could further delineate, or “de-risk,” our leased acreage position for its potential development in one or more formations in the STACK Play. We believe the drilling activity in the STACK Play has increased due to strong recent well results from us and other operators, the STACK Play’s multiple, stacked, and productive reservoirs and the premium prices paid in recent acquisitions of oil and natural gas assets located in the play.