NEW ORLEANS--(BUSINESS WIRE)--Amelia Resources LLC announces the offering of 400,000 net acres in the Louisiana-Mississippi Austin Chalk and LAMS Stack Play at the NAPE Summit.
Amelia Resources announced today that it will be offering 400,000 net acres for sale in the Louisiana-Mississippi Austin Chalk and LAMS Stack Play at the NAPE Summit in Houston, Texas, February 13.
Amelia's President, Kirk Barrell, said, "EOG, ConocoPhillips, and Marathon are leading the industry into this emerging unconventional play. With comparable rock properties to the successful Austin Chalk completions in Texas, our acreage package presents the opportunity for a new entrant to obtain a leadership position in the play.”
With 28 years of evaluation experience in the Tuscaloosa Trend, Amelia Resources has performed extensive evaluation of multiple targets including the Selma, Austin Chalk, TMS, Tuscaloosa, Wilcox, Frio, and Lower Cretaceous.
Barrell stated, "As a thick source rock across the Tuscaloosa Trend, the Austin Chalk presents a large hydrocarbon resource occurring only 800’ above the Tuscaloosa Marine Shale (TMS). With a new TMS initial test of 1458 barrels of oil equivalent per day at a cost of $10.3 million, these stacked formations present an excellent opportunity to leverage multiple targets.”
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 $300 million of transactions in the TMS, Eagle Ford, Permian, Austin Chalk, and Terryville Plays over the past seven 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.