Point Roberts, WA. July 29 , 2011 (Investorideas.com Energy Newswire) -
www.InvestorIdeas.com, a leader in sector research including oil and gas stocks, issues a trading
snapshot on Mississippian Formation oil and gas stocks for July 29th
Osage Exploration and Development, Inc. (OTCBB: OEDV) along with its partners, Slawson
Exploration Company, Inc. and U.S. Energy Development Corporation recently announced that
their Nemaha Ridge Mississippian prospect has now reached 12,000 net mineral acres, an
increase from 10,000 net acres announced in late May 2011.
SandRidge Mississippian Trust (NYSE: SDT ) announced on the 22nd, distribution of $1.07 Per
Unit.
Range Resources Corporation (NYSE: RRC ) announced its second quarter 2011 results on
Monday of this week. John Pinkerton, Range’s Chairman and CEO, said, “The second quarter
results reflect terrific execution by the entire Range team. While simultaneously closing the sale
of the Barnett Shale properties, we drove up production above the high-end of our guidance
while also driving down our unit costs. We finished the quarter in the best financial position in
the Company’s history with $289 million in cash, no borrowings outstanding on our $2.0 billion
bank credit facility and no bond maturities until 2017. Looking to the second half of the year, we
anticipate fully replacing all of the Barnett production by the end of the third quarter, reaching
our Company-wide production increase target of 10% for the year and exiting the year at 400
Mmcfe per day net from the Marcellus Shale. Additionally, as we continue to redeploy the Barnett
sale proceeds into higher return projects, we expect to see further lowering of our cost structure.
In addition to the Marcellus, Upper Devonian and Utica plays in Appalachia, we are proactively
expanding several other plays including the Mississippian Lime and St. Louis plays in our
Midcontinent region. Range is extraordinarily well positioned to continue to drive up its per share
value in the second half of 2011 and for 2012 and beyond.”
Mississippian Formation Sector Trading Snapshot
Chesapeake Energy Corporation (NYSE: CHK ) trading at $34.40, up 0.97 (2.90%) 10:30AM
EDT
Osage Exploration and Development, Inc. (OTCBB: OEDV) trading at $0.44
Range Resources Corporation (NYSE: RRC ) trading at $65.46, up 0.16 (0.25%) 10:31AM EDT
SandRidge Mississippian Trust I (NYSE: SDT ) trading at $28.25, up 0.15 (0.53%) 10:32AM EDT
Sandridge Energy Inc. (NYSE: SD ) trading at $11.74, up 0.14 (1.21%) 10:33AM EDT
Company Snapshot; Junior Oil and Gas Company Osage Exploration and Development,
Inc. (OTCBB: OEDV)
Based in San Diego, California with production offices in Oklahoma City, Oklahoma, and
executive offices in Bogotá, Colombia, Osage Exploration and Development, Inc. is an
independent exploration and production company with interests in oil and gas wells and
prospects in the US and Colombia. www.osageexploration.com
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