Mississippian Lime: Tom Ward's 600,000-Acre Comeback
- Tom Ward's Tapstone Energy is the acquirer of Shell's Mississippian Lime assets.
- A detailed well-by-well analysis of Shell's well performance in the Mississippian provides insight into the major's likely motivation to exit the play.
- Abundance of acreage available for sale or primary leasing has deflated land valuations in the Mississippian to their pre-bubble levels.
- Capital raising environment in the Mississippian has changed: investors' "exuberance" of the 2011-2012 period is unlikely to return.