Osage Exploration and Development Releases Initial Production Rate of 557
BOE from Horizontal Mississippian Well
SAN DIEGO -- May 07, 2013
Osage Exploration and Development, Inc. (OTCBB:OEDV), an independent
exploration and production company focused on the Horizontal Mississippian and
Woodford plays in Oklahoma, announced today preliminary production results on
the Blevins 1-7H Horizontal Mississippian well in Logan County, Oklahoma. The
Blevins 1-7H, located in Section 7-17N-3W and operated by Stephens Production
Company, achieved one-day peak production of 557 BOE on a gas lift and has
averaged 466 BOE in the seven days since that peak.
“The Blevins 1-7H is further indicative that the decision to look to Logan
County as the cornerstone of our Horizontal Mississippian and Woodford
exploration was the correct one,” stated Mr. Kim Bradford, Chairman and CEO of
Osage Exploration and Development. “We have been able to replicate the results
generated with our project operator Slawson Exploration Company, Inc. and also
with other top quality oil companies that we participate with, such as Devon
Energy Corporation and Stephens Production Company. While this is somewhat at
odds with the conventional wisdom regarding the high variability of results to
be expected in the Miss Lime, we are seeing a growing consistency across not
only our entire area but also across operating teams and methods. This boosts
our confidence even more.”
About Osage Exploration and Development, Inc.
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 U.S. and Colombia.
About Slawson Exploration Company, Inc.
Headquartered in Wichita, Kansas, with regional offices in Denver, Houston,
and Oklahoma City, Slawson began oil and gas exploration in 1957.
About Stephens Production Company
Stephens Production Company (SPC) explores for and produces natural gas and
oil. Acquired in the early 50's through a series of acquisitions, SPC is one
of the largest privately owned, independent natural gas companies in the U.S.
The company, headquartered in Fort Smith, Arkansas, is active in Arkansas,
Oklahoma, Texas, Louisiana, Mississippi, Colorado, Wyoming and the Gulf of
About Devon Energy
Devon Energy Corporation is an Oklahoma City-based independent energy company
engaged in oil and gas exploration and production. Devon is a leading
U.S.-based independent oil and gas producer and is included in the S&P 500
Safe Harbor Statement
The information in this release includes certain forward-looking statements as
defined by the Securities and Exchange Commission that are based on
assumptions that in the future may prove not to have been accurate. Those
statements and Osage Exploration and Development, Inc. are subject to a number
of risks, including production variances from expectations, volatility of
product prices, inability to raise sufficient capital to fund its operations,
environmental risks, competition, government regulation, and the ability of
the Company to execute its business strategy, among others.
Osage Exploration and Development, Inc.
Kim Bradford, President and CEO
Jack Zedlitz, VP of Corporate Development
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