Newfield Exploration (NFX) made a splash during this earnings season by announcing a brand new shale oil play: the Meramec Shale in the deep Anadarko Basin.
To readers familiar with the stratigraphy of the Anadarko Basin, the term "Meramec" is certainly not new and might associate with the Mississippian Lime play. The Meramec is the central series of rocks that make up the Mississippian System, as shown on the schematic below, and are found deposited over millions of acres in Oklahoma and Kansas (more detailed example of the stratigraphic column from the US Geologic Survey is shown in Appendix A at the end of this note).
(Source: Kansas Geologic Survey)
In its announcement however, Newfield referred to a...
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