THE WOODLANDS, Texas--(BUSINESS WIRE)--Amelia Resources LLC announces the sale of its working interest position in Ruston Field, Lincoln Parish, Louisiana.
Amelia Resources announced today that it has sold its working interest in Ruston Field in Lincoln Parish, Louisiana.
Amelia’s President, Kirk Barrell, said, “We’re excited to monetize a natural gas asset at an attractive price and look forward to continued success in the project with our royalty interest. Wildhorse Resources LLC and Memorial Resource Development Corp. continue to improve and expand the deep Cotton Valley play across Lincoln Parish.”
With 17 years of experience in the Cotton Valley trend, Amelia Resources has evaluated over 1,025 wells across the area. The company focused on Ruston Field in 2006, originally targeting Cotton Valley’s proven undeveloped locations with vertical completions.
Amelia Resources was the original generator of the prospect and provided technical expertise during the lease acquisition and development drilling phase of the project. Barrell stated, “After holding this asset for several years, we now have the opportunity to increase our investment in our 3000′ horizontal oil project in South Louisiana.”
Amelia Resources LLC is a privately held exploration and production company. The company generates drilling prospects and is actively engaged in several projects across the onshore Gulf Coast. Amelia was founded in 2003 by Kirk Barrell and has offices in The Woodlands, Texas, 30 miles north of Houston. The company leverages its 27 years of geological and geophysical experience to obtain strategic positions in drilling projects. Updates on the Tuscaloosa Marine Shale and Austin Chalk projects are provided by the company at www.tuscaloosatrend.blogspot.com.
CAUTIONARY STATEMENT: This press release contains certain forward-looking statements regarding various oil and gas discoveries, oil and gas exploration, development and production activities, anticipated and potential production and flow rates and the economic potential of properties. Accuracy of these forward-looking statements depends on assumptions about events that change over time and is thus susceptible to periodic change based on actual experience and new developments. Amelia Resources LLC cautions readers that it assumes no obligation to update or publicly release any revisions to the forward-looking statements in this press release and, except to the extent required by applicable law, does not intend to update or otherwise revise these statements more frequently than quarterly. Important factors that might cause future results to differ from these forward-looking statements include adverse conditions such as high temperature and pressure that could lead to mechanical failures or increased costs, variations in the market prices of oil and natural gas, drilling results, unanticipated fluctuations in flow rates of producing wells, oil and natural gas reserves expectations, the ability to satisfy future cash obligations and environmental costs, and other general exploration and development risks and hazards.