These assets are located adjacent to the company’s existing Black Oaks project, which produces oil from the Mississippian formation.
The company has acquired a 90% working interest in 720 acres and may acquire a 90% working interest in 1,280 additional adjacent acres upon fulfilling certain drilling milestones.
EnerJex said this additional acreage nearly doubles its exposure to its Mississippian oil play in Kansas to 4,100 acres.
EnerJex is a US-based onshore oil company with properties located in eastern Kansas and south Texas.
