NEW YORK, NY--(Marketwired - Jan 31, 2017) - Viking Investments Group, Inc. ("Viking") (OTCQB: VKIN) is pleased to announce its wholly-owned subsidiary, Mid-Con Petroleum, LLC ("Mid-Con"), has engaged Kansas Resource Development Company ("KRDC") to operate additional oil and gas-related leases in Eastern Kansas.
As announced on October 25th, 2016, KRDC's subsidiary, S & B Operating, LLC ("S&B"), became the operator of record for certain of Mid-Con's producing oil and gas leases (i.e. A. Wilson (East), L. Wilson (West) and Elam/Hahn). Effective November 1st, 2016, S & B was appointed the operator of record for 3 additional producing leases (i.e. ABC, Terbrock and Renner) which were acquired by Mid-Con in early October.
KRDC is a premier operating company in Kansas and Missouri and through its affiliates has over 1,000 wells under management. KRDC's executives have decades of experience in the oil & gas sector. The company has established relationships with proven vendors and a first-rate administrative and communication system to assist clients, including publicly-traded companies and private equity firms with an E&P focus, with reporting obligations and making informed decisions regarding future operations and development. KRDC's management team specializes in formulating and operating water-flood enhanced oil recovery programs, and since 2014 the company, through its affiliates, has spudded more wells than any other operator in Kansas.
Viking is an independent exploration and production company focused on the acquisition and development of oil and natural gas properties in North America. The company owns oil and gas leases in Alberta, Kansas and Missouri. The company's interests in Kansas and Missouri cover over 6,000 acres of property. Viking targets under-valued assets with realistic appreciation potential.
Viking is not an investment company, as defined by the Investment Company Act of 1940.
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