THE WOODLANDS, Texas--(BUSINESS WIRE)--Amelia Resources LLC announces the sale of mineral rights in Reeves and Culberson Counties, Texas.
Amelia Resources announced today that it is commencing the process of marketing mineral rights on 793 net acres under 14,969 gross acres in Reeves and Culberson Counties, Texas.
Amelia’s President, Kirk Barrell, said, “The Permian Basin continues to attract significant attention due to its stacked world-class unconventional reservoirs. With continued success in the Wolfcamp, the Delaware is experiencing escalating valuations. Apache’s recent announcement regarding large potential in the Woodford and Barnett Formations adds to the increased interest.”
Over the past five years, Amelia Resources has raised $49 million of capital and facilitated the closing of $97 million of transactions in the Eagle Ford, TMS, and Midland Basin.
In August, Amelia Resources facilitated the closing of a mineral interest sale in the Midland Basin at a top-of-the-market valuation. Barrell stated, “For mineral owners, the renewed focus on the Permian Basin presents an excellent opportunity to monetize part or all of their interests. This offering, with 67 individual tracts, presents an excellent opportunity for an acquirer to obtain a position spread across the Wolfcamp and Alpine High plays under the best operators in the basin.”
Amelia Resources LLC is a privately held exploration and production company. The company generates drilling prospects, represents mineral owners, and is actively engaged in several projects across the onshore Gulf Coast and the Permian Basin. Amelia was founded in 2003 by Kirk Barrell and has offices in The Woodlands, Texas, 30 miles north of Houston. The company leverages its 30 years of geological and geophysical experience to obtain strategic positions in drilling projects.
For more information on the project:
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.