Amelia Resources LLC has extended the bid deadline to April 3, 2013 for bids on 47,300 net acres in the Tuscaloosa Marine shale 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 23 years of experience across the Tuscaloosa trend, Amelia Resources LLC has evaluated more than 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."
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. Amelia was founded in 2003 by Kirk Barrell and has offices in The Woodlands, Texas, thirty miles north of Houston. The company leverages its 25 years of geological and geophysical experience to obtain strategic positions in drilling projects. Updates on the Tuscaloosa Marine Shale and Austin Chalk projects are provided by the company at www.tuscaloosatrend.blogspot.com.
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