Operational Updates
Evolution Petroleum Mississippi Lime JV Update
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Evolution Petroleum Corporation provided operational results for recent work in its Mississippian Lime project.
Mississippi Lime Joint Venture
We previously announced a joint venture ("JV") with a private company to reinvest near-term Delhi cash flows into the oil-prone Mississippi Lime. The JV initially covered 11,700 net acres in central Kay County in north central Oklahoma where the Mississippian Lime formation is well-defined by previous vertical development. We own a 45% interest in the JV that is committed to drill between six and fourteen gross wells in the first 12 months. The JV is considering several bolt-on leasehold acquisitions, and has already completed one small purchase.
The JV is currently completing its first saltwater disposal well necessary to support oil production…
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