Amelia Resources announced today that it has facilitated the sale of more than 95,000 acres in the Tuscaloosa Marine Shale, although the precise location of the property was not immediately available.
The Woodlands, Texas-based company has served as a consultant for landowners and is marketing large blocks in the 6.6 million-acre formation, which covers the mid-section of Louisiana and stretches into Mississippi.
Amelia is also marketing 85,000 acres that the company says represent the last remaining large block available in the formation.
“The TMS play continues to gain momentum with additional drilling and acreage acquisitions. Recent announcements by TMS operators indicate that there will be a significant increase in capital invested and drilling across the play in 2014,” Amelia Resources President, Kirk Barrell, said.
Wells such as Goodrich’s Crosby 12H-1 illustrate the Tuscaloosa can produce “prolific amounts of oil in a short period of time,” Barrell said. The costs and operational challenges in the formation will decrease over time, just as they have in other shale formations.
Barrell said 2014 will be an exciting time for the Tuscaloosa Marine Shale as it moves to development mode and new operators move in.
The Crosby produced 1,137 barrels of oil a day during its first 30 days of production and nearly 100,000 barrels of oil during its first five months of production.