NEW ORLEANS--(BUSINESS WIRE)--Aug 13, 2018--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
It will be interesting to see who got this 40,000 acres - figure a press release is coming out from whoever this is soon.
What is considered the "eastern side of the La AC trend"?
I am sure that Kirk will post a map showing the location of his "new" 394,000 acre position as soon as he goes public with it at NAPE.
When I hear "the eastern side", I tend to think "above the shelf".
I do know a company called Woodsen Entergy leased land east of Slaughter, La
I agree with Skip. Pointe Coupee is probably leased up by EOG. I know that along the Mississippi river from Morganza to the Audubon Bridge is basically all theirs. And many think the shelf runs right under that area. Who knows? But it is leased.
The eastern edge of the Austin Chalk runs plumb through Mississippi and disappears under the Gulf of Mexico in somewhere in Alabama. Offshore Louisiana, the Chalk can be found 30,000 feet down. Dunno what became of the company who tried to drill that well. This is some twenty year old intel, so take it with a grain of salt.
Jay, thanks for the on the ground report. I have seen this same trend occur in the past for any other "hot new play", i.e. brokers and "groups with land" seem to pop out of the woodwork claiming to represent acreage holdings in the trend. Many of these blocks are lease option blocks.
Have you seen Amelia's booth and 394,000 acre map yet?
The 40k acre block that Kirk recently announced selling was in East Feliciana.
His website shows maps/presentations of other acreage that he has available.
There is plenty of land not leased in St. Helena Parish, all very near where COP is seeking a unit.
The offer was to pay at least $400 or maybe more when the lease was sold. No bonus. I think they also have an option at the end of one year to renew at $400 bonus for 3 years. 20% royalty. I may have to tweak this a little more after I talk to him again.
John, it sounds like an "option to lease" as opposed to a straight out O&G lease. A great deal for Amelia with no cost to the company for a rental bonus.