THE WOODLANDS, Texas--(BUSINESS WIRE)--Amelia Resources LLC today announces the sale of 47,300 net acres in the Tuscaloosa Marine Shale play.
Amelia Resources announced today that it has been retained as a technical consultant to host a data room to market 47,300 net acres in the Tuscaloosa Marine Shale (“TMS”) play. The data room will open in late January with bids due the first week of March.
Amelia's President, Kirk Barrell, said: "Recent well results in the TMS are very encouraging and lead us to believe that this could be a very significant play. Our technical experience, extensive database, and long term relationships across the trend have allowed us to attract excellent joint venture partners. We’re excited to have the opportunity to market a large contiguous acreage block in the play. We believe that the economics of the play will be positive and confirmed in 2013."
With twenty-three years of experience across the Tuscaloosa Trend, the company has evaluated over 800 wells in the Tuscaloosa Marine Shale across Louisiana and Mississippi. Utilizing a diverse dataset of well logs, geochemistry, reprocessed two dimensional seismic, mudlogs, bouguer gravity, and petrophysics, the company has identified prospective "sweet spots" across the play.
Amelia’s client has secured geologically high-graded acreage in the heart of the play. Barrell stated, "The rock properties, along with key aspects of the hydrocarbon system, confirm that this substantial acreage position will provide excellent frac results and economics. In addition, we like the fact that the Austin Chalk provides a secondary target across the position."
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, thirty miles north of Houston. The company leverages its 25 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.