The Mid-Continent region consists of properties located in the Anadarko and Arkoma basins in Oklahoma, as well as waterfloods in the Central Oklahoma Platform.
In December 2014, the Company completed the sale of its entire position in the Granite Wash and Cleveland plays located in the Texas Panhandle and western Oklahoma. The Company’s properties in this diverse region produce from both oil and natural gas reservoirs at depths ranging from 1,500 feet to 11,000 feet. As of December 31, 2016, the Company’s properties in this region are primarily mature, low-decline oil and natural gas wells.
Mid-Continent proved reserves represented approximately 15% of total proved reserves at December 31, 2016, of which 81% were classified as proved developed. This region produced approximately 101 MMcfe/d or 12% of the Company’s 2016 average daily production. During 2016, the Company invested approximately $31 million to develop the properties in this region and approximately $40 million in exploration activity.
Additional information regarding this asset can be found in our Emergence Presentation.
