SOURCE: The Bedford Report

The Bedford Report

June 16, 2011 08:16 ET

SandRidge Energy and Magnum Hunter Tap Into Rich US Resources

The Bedford Report Provides Stock Research on SandRidge Energy & Magnum Hunter

NEW YORK, NY--(Marketwire - Jun 16, 2011) - The Organization of the Petroleum Exporting Countriess (OPEC) surprised oil investors last week when the cartel announced that it failed to agree on increasing oil production as a way of lowering prices. The announcement caused a noticeable drop in US oil explorers, many of which hope to boost production to capitalize on oil's spike in price. The Bedford Report examines the outlook for companies in the Oil & Gas Sector and provides equity research on SandRidge Energy, Inc. (NYSE: SD) and Magnum Hunter Resources Corporation (NYSE: MHR). Access to the full company reports can be found at:

US oil producers that do not have exposure to Libya and other troubled spots appear poised to boost production. Last month, faced with the economic and political consequences of high gas prices, President Obama offered his support to measures to support domestic oil production. He also called for speedier evaluation of oil and natural-gas projects in the resources in the mid- and south Atlantic region, and said his administration plans to lease new areas in the Gulf of Mexico.

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SandRidge Energy declares itself the most active player in the Central Basin Platform and the Mississippian horizontal play in the Mid-Continent area of Oklahoma and Kansas. In 2011, SandRidge plans to drill more than 800 wells in the Permian Basin, and in excess of 130 horizontal wells in the Mississippian play.

Magnum Hunter is presently active in three of the highest rate of return shale resource plays in the United States, namely the Marcellus Shale, Eagle Ford Shale and Williston Basin/Bakken Shale. Magnum Hunter reported an impressive 130 percent year-on-year surge in revenues in the most recent quarter as the company significantly boosted production at its ongoing drilling programs.

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