The Mississippi Lime Formation in southern Kansas and northern Oklahoma has been experiencing an oil boom that many experts are calling the new Bakken.
Woodland Hills, CA (PRWEB) August 16, 2012
Infocast, the leading business intelligence and networking events producer in the oil and gas industry, has announced the Mississippian Formation Summit, which will be held in Tulsa, Oklahoma on November 28-29, 2012. It will serve as the only event in the industry that brings together key stakeholders across the spectrum with the goal of getting deals done.
The Mississippi Lime Formation in southern Kansas and northern Oklahoma has been experiencing an oil boom that many experts are calling the new Bakken. Oil rigs have sprung up in farmers’ fields and the once-quiet farm towns have rapidly transformed into oil boomtowns. Rents in the area have tripled and there is now a hectic scramble to develop the necessary infrastructure – pipeline, rail and roadway – to get the production out to the market. Because of recent advancements in horizontal drilling and hydraulic fracturing, companies are now able to tap into the lucrative oil-rich, rarely-dry Mississippian Lime Formation.
Due to the geology of the formation, product costs are lower than in many other plays. The American Association of Petroleum Geologists estimates that Mississippian wells will cost less than $2.5 million each, but have an estimated ultimate recovery of up to 4000,000 barrels per-well. Furthermore, recent estimates have the play holding about 15 billion barrels of oil, and economic development officials in Kansas believe that this could lead to the greatest economic impact in the State’s history.
Infocast’s Mississippian Formation Summit was designed to provide stakeholders, the investment community and field services the opportunity to discover how to be part of the play, evaluate capital-raising potential, assess the region geology and explore infrastructure and transportation strategies.
Participating market leaders and stakeholders include Angus Natural Resources, Bakers Hughes, Dodge City & Ford County Development Corporation, Drilling Info, Plains All American Pipeline, Spyglass Energy Group LLC, Kansas City Southern, High Sierra Energy, Wells Fargo Energy Capital and more.
For more information, to register or to join the event as a sponsor, visit the conference website at http://www.infocastinc.com/misslime12 or contact Infocast Events at 818-888-4444.