As of December 31, 2012
Estimated Proved Reserves:
- Based on SEC Required Prices: 38 Bcfe*
- Based on Forward Prices: 130 Bcfe**
Net Acreage: Over 727,000
Net Producing Wells: 2,310
The Cherokee Basin is located in the Mid-Continent region in southern Kansas, northern Oklahoma, and western Missouri and covers approximately 26,000 square miles. the predominant production is natural gas produced from coals and shales and natural gas and oil from conventional formations. Our investment focus is now exclusively targeting oil development by exploiting Cherokee Basin oil opportunities previously uneconomical due to commodity price levels. our production is primarily from the Pennsylvanian coals, shales, and sands. Major zones are the Mulky Iron Post Shale; Weir Pitt Coal; and Skinner, Red Fork, and Bartlesville sands.
Our current position in the Cherokee Basin results from three acquisitions executed in 2007.
- In April 2007, we acquired properties located in the Cherokee Basin in Kansas and Oklahoma from EnergyQuest Resources LP.
- In August 2007, we acquired additional properties through our acquisition of AMVEST Osage, Inc.
- In September 2007, we acquired additional properties from Newfield Exploration MidContent, Inc.
* Estimated by third party reserve engineers based on the price method prescribed by the SEC at December 31, 2012
** Estimated by third party reserve engineers based on forward market prices at December 31, 2012