SandRidge Energy (SD) issued an operations update for the fourth quarter of 2011and disclosed additional information on the company’s activity in the Permian Basin. The company has 225,000 net acres under lease.
SandRidge Energy drilled 195 Permian Basin wells in the fourth quarter of 2011, boosting the company’s total well count to 803 for the year. The company estimates that it has approximately 7,900 drilling locations left on its Permian basin properties, and plans to drill over 750 wells here in 2012.
SandRidge Energy is operating 13 rigs in the Permian Basin and is focusing on the Grayburg/San Andres formation in the Central Basin Platform. These formations are developed vertically and are at depths ranging from 4,500 feet to 7,500 feet.