NEW ORLEANS--(BUSINESS WIRE)--Amelia Resources LLC announces the sale of 40,000 net acres in the Louisiana Austin Chalk and LAMS Stack plays.
Amelia Resources announced today that it has sold 40,000 net acres of newly acquired leases to an undisclosed U.S.-based buyer. The acreage block is located in the core of the Louisiana-Mississippi (LAMS) Stack Play on the eastern side of the Louisiana Austin Chalk trend.
Amelia's President, Kirk Barrell, said, “With consistent higher oil prices, the stacking of the Austin Chalk and Tuscaloosa Marine Shale (TMS) make for a very attractive target. Continued success in the Texas Austin Chalk and comparable matrix porosity across Louisiana and Mississippi present an excellent opportunity for expansion into a new play. We are excited to bring another new player to the region.”
Amelia’s buyer focused where both the Austin Chalk and TMS have robust reservoir characteristics. Barrell stated, “We already have some of the best U.S. operators committed to the play in EOG, ConocoPhillips, and Marathon. With their significant experience in the same geologically-aged reservoirs in Texas, we have high hopes for the future of this stack play.”
With 28 years of experience across Central Louisiana and Mississippi, Amelia Resources has evaluated over 1,800 wells in the Austin Chalk from Mexico to Mississippi. Utilizing a diverse dataset of well logs, petrophysics, geochemistry, seismic, and gravity, the company has pursued the most geologically and economically attractive areas of the play.
The company plans to debut 394,000 additional acres this week at the Summer NAPE in Houston, August 14-17, 2018.
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. The company has closed $261 million of transactions in the TMS, Eagle Ford, Permian, Austin Chalk, and Terryville Plays over the past six years. Amelia was founded in 2003 by Kirk Barrell and has offices in New Orleans and St. Francisville, Louisiana. The company leverages its 33 years of geological and geophysical experience to obtain strategic positions in drilling projects. Updates on the Austin Chalk and TMS 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.