SandRidge Energy (SD) made the following comments regarding the development of properties located in the Permian Basin during the company’s fourth quarter of 2011 earnings conference call held on February 24, 2012.
“The Permian oil acquisitions were the initial stage of a plan to move from a single natural gas asset company to a premier oil company built on shallow, conventional, low-risk, low-cost reservoirs.”
“So tying together an improved balance sheet from continued successful capital raising. $1 billion of liquidity, a deep inventory of high return oil drilling opportunities in the Mississippian and the Permian plus the Dynamic acquisition, we believe the company is in the best position it has been in since its inception in 2006.”
“And we now have rates of return in the Permian of 72% on the projected wells we're drilling this year.”
SandRidge Energy is holding an analyst day on February 28, 2012, and plans additional disclosure on the company’s Permian Basin operations at that time.