Amelia Resources LLC Announces the Sale of 85,000 Net Acres in the Louisiana Austin Chalk Play

Source Press Release
Company Amelia Resources LLC 
Tags Asset Deals, Deals, Tight Gas & Liquids, Unconventional Resources, Upstream Activities
Date January 03, 2018

Amelia Resources LLC announces the sale of 85,000 net acres in the Louisiana Austin Chalk play.

Amelia Resources announced today that it has sold 85,000 net acres of newly acquired leases in the Louisiana Austin Chalk play to an undisclosed large U.S.-based operator for $87 million.

Amelia's President, Kirk Barrell, said, "With the rapid emergence of this exciting new play, this focused package of leases presents a large new player an excellent acreage foundation to build upon. Frac design improvements in the Austin Chalk of Texas along with very high initial flow rates are bringing more attention to this play across both Texas and Louisiana. We are excited to deliver an operator to the play with significant experience in drilling and completing these same reservoirs in Texas."

With 27 years of experience across the Tuscaloosa Trend, Amelia Resources has evaluated over 2,000 wells in the Austin Chalk across Texas and Louisiana. Utilizing a diverse dataset of well logs, geochemistry, seismic, and petrophysics, the company has confirmed and defined the most economically attractive areas of the play.

Amelia’s buyer has acquired this large acreage block in the updip, normally pressured region of the play. Barrell stated, "Our acreage block is geologically focused targeting a shallower, normally pressured, oil-rich, porous reservoir across unfaulted monoclinal dip. With the Tuscaloosa Marine Shale (TMS) occurring 700 feet below the Austin Chalk, the updip region of the play presents a potential ‘stack play’ opportunity." The company plans to debut a second large acreage package at the NAPE Summit in Houston, February 5–9, 2018.

Source: EvaluateEnergy® ©2019 EvaluateEnergy Ltd