THE WOODLANDS, Texas--(BUSINESS WIRE)--Amelia Resources, LLC announces an update on the status of acreage sales in the Tuscaloosa Marine Shale (TMS) play.
Amelia Resources announced today that it has facilitated the sale of over 95,000 acres in the TMS play. The company has served as a consultant hosting a data room and marketing large acreage blocks in the TMS. Amelia is marketing 85,000 additional acres that represent the last remaining large acreage block available in the play.
Amelia’s President, Kirk Barrell, said, “The TMS play continues to gain momentum with additional drilling and acreage acquisitions. Recent announcements by TMS operators indicate that there will be a significant increase in capital invested and drilling across the play in 2014.”
With 23 years of experience across the Tuscaloosa Trend, Amelia Resources, LLC has evaluated over 1,000 wells in the TMS across Louisiana, Mississippi, and Texas.
Barrell stated, “Wells such as Goodrich’s Crosby 12H-1 illustrate that this unconventional reservoir has the ability to produce prolific amounts of oil in a short period of time. As in all unconventional plays, costs and operational challenges will decrease through time. 2014 will be an exciting time for this play as it moves to development mode and new operators enter the project.”
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 TMS 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.