These excerpts taken from the LINE 10-K filed Feb 29, 2008.
The Mid-Continent is the Companys largest region, and as noted above, includes two key core operating areas. First, the Texas Panhandle area, which consists of shallow oil and gas production from the Brown Dolomite formation at depths of approximately 3,200 feet and the Deep Granite Wash formation which produces at depths ranging from 8,900 feet to 16,000 feet. This area produced 71.6 MMcfe/d, or 36%, of the Companys fourth quarter 2007 production. The second core area is located primarily in Oklahoma. Producing depths range from 6,000 feet
Item 7. Managements Discussion and Analysis of Financial Condition and Results of Operation - Continued
to 20,000 feet in this area. This area produced 92.7 MMcfe/d, or 46%, of the Companys fourth quarter 2007 production. During 2007, the Company invested approximately $40.0 million to drill in Oklahoma.
In order to more efficiently transport its gas to market, the Company owns and operates a network of gas gathering systems comprised of approximately 800 miles of pipeline and associated compression and metering facilities which connect to numerous sales outlets in the Texas Panhandle.
The Mid-Continent is the Companys largest region, and as noted above,
to 20,000 feet in this area. This area produced 92.7 MMcfe/d, or 46%,
In order to more
This excerpt taken from the LINE 10-K filed Mar 30, 2007.
Mid-Continent. Our Mid-Continent proved reserves of 74.0 Bcfe, acquired in third quarter of 2006, represented 16% of our total proved reserves at December 31, 2006, of which 52% were proved developed reserves. This area produced 1.0 Bcfe, or 9%, of the Companys 2006 production. During 2006, we invested approximately $3.9 million to drill four wells in the Mid-Continent. During 2007, we anticipate spending 10% to 15% of our total budget for development activities in the Mid-Continent region.