NEW YORK, NY -- (Marketwire) -- 05/10/12 -- Investment opinion highlighting SandRidge Energy (NYSE: SD), Circle Star Energy (OTCBB: CRCL), Devon Energy (NYSE: DVN) and Chesapeake Energy (NYSE: CHK). A Kansas Geological Survey recently released states Kansas saw a rise in oil production totaling 2.5% for 2011, a total of 41.5 million barrels. Production value of oil and gas was an estimated $3.5 billion, up from $2.79 billion in 2010. (www.bit.ly/KiFnao).
Kansas is seeing increased attention from many industry players moving into the state aiming to uncover opportunities with improved extraction technology. Leading the way are, SandRidge Energy (NYSE: SD), Devon Energy (NYSE: DVN), and Chesapeake Energy (NYSE: CHK). SandRidge (NYSE: SD) has purchased 2 million acres of Mississippian oil and gas properties, Chesapeake (NYSE: CHK) has 1.1 million acres, while Devon Energy (NYSE: DVN) has 150,000 acres. All indications are that these companies are going to continue acquiring land while looking to bring on significant production from operations aimed at the Mississippian Lime formation in Kansas. SandRidge alone expects to set up more than 5,000 wells in Kansas.
Circle Star Energy (OTCBB: CRCL) has been making headlines recently with its recent acquisition of 175,000 net acres of Kansas acreage. The most recent acquisition being the 111,000 acres located in Decatur, Graham, Logan, Norton, Rawlins, Sheridan, and Thomas counties, Kansas. The leasehold interests include 100% working interest and an average net revenue interest of approximately 80%. Circle Star Energy recently received $2,400,000 from the early exercise of warrants and the Company intends to use the proceeds for acquisition capital and to fund current debt obligations. For more information on Circle Star Energy and the Company's projects in Kansas visit: www.circlestarenergy.com
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