Viking, through its wholly-owned subsidiary, Mid-Con Petroleum, LLC ("Mid-Con"), owns a working interest in 7 producing oil leases with access to the mineral rights (oil and gas) concerning approximately 800 acres of property in Miami and Franklin Counties in Eastern Kansas, including an undivided interest in all oil and gas wells, equipment, fixtures and other personal property located upon the leased properties and used in connection with oil and gas operations. Viking's working interests in the leases range from 68% to 100%. This project produces oil from the Cherokee formation at a depth of approximately 600 feet. These leases offer the potential for several future drilling locations.
Viking's assets in Kansas are operated by a subsidiary of Kansas Resource Development Company ("KRDC"), a premier operating company in Kansas and Missouri. KRDC's executives have decades of experience in the oil & gas sector, and through its affiliates has over 1,000 wells under management. KRDC's 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.
Mid-Con has a credit facility with CrossFirst Bank, a commercial bank with offices in Kansas, Oklahoma and Texas, with expertise in serving the needs of participants in the oil, gas and energy industry, particularly in the mid-continent region.