Mar 13 - Amelia Resources LLC Announces an Extension of the Bid Deadline on the Sale of 47,300 Net Acres in the Tuscaloosa Marine Shale

Source Press Release
Company Amelia Resources LLC 
Tags Shale Oil, Shale Gas, Tuscaloosa Marine, Deal Rumours, Upstream Activities
Date March 05, 2013

Amelia Resources LLC today announces an extension of the bid deadline on the sale of 47,300 net acres in the Tuscaloosa Marine Shale play.

Amelia Resources announced today that it has extended the deadline to April 3, 2013 for bids on 47,300 net acres in the Tuscaloosa Marine Shale (“TMS”) play. The data room opened in early February.

Amelia's President, Kirk Barrell, said: "This acreage package has generated significant interest and several parties have requested an extension of the bid deadline to enable them to properly evaluate the asset. Goodrich Petroleum’s recent announcement of their Crosby 12H-1 test of 1300 boepd has generated a lot of excitement across the play.”

With twenty-three years of experience across the Tuscaloosa Trend, Amelia Resources, LLC has evaluated over 800 wells in the Tuscaloosa Marine Shale across Louisiana and Mississippi.

Barrell stated, "With the increasing amount of production and decline data available, several third parties have recently increased their valuations on the play. Market analysts and TMS operators have published estimated ultimate recoveries ranging from 400-800 MBOE with 93% black oil that receives Louisiana Light Sweet Crude pricing. Encana will have four new completions that will be announced in the coming weeks, and we expect these wells to surpass all initial tests rates to date."

Source: EvaluateEnergy® ©2020 EvaluateEnergy Ltd