LINE » Topics » Mid-Continent

These excerpts taken from the LINE 10-K filed Feb 29, 2008.

Mid-Continent

 

The Mid-Continent is the Company’s 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 Company’s fourth quarter 2007 production.  The second core area is located primarily in Oklahoma.  Producing depths range from 6,000 feet

 

 

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Item 7.    Management’s 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 Company’s 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.

 

Mid-Continent



 



The Mid-Continent is the Company’s 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
Company’s fourth quarter 2007 production. 
The
second core area is located primarily in Oklahoma.  Producing depths range from 6,000 feet



 



 



32
















 



Item
7.    Management’s 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 Company’s 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.



 



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 Company’s 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.

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