Amelia Sells Austin Chalk Land for $87 Million, With More Sales To Come

January 5, 2018

 

Amelia Resources is selling 85,000 acres in the Louisiana Austin Chalk play for $87 million to an undisclosed buyer.

The Woodlands, Texas based company said only that the newly acquired leases are sold to a “large US-based operator” with significant experience in drilling and completing similar reservoirs.

Amelia President Kirk Barrell noted that, “with the Tuscaloosa Marine Shale occurring 700 feet below the Austin Chalk, the updip region of the play presents a potential ‘stack play’ opportunity.”

The deal appears unrelated to the earlier announced Austin Chalk purchase of 24,000 acres by Woodlands-based PetroQuest that involves more $18 million and a two-million-share issue.

Barrell said in a statement that his company plans to debut a second large acreage package at the NAPE Summit in Houston, February 5–9, 2018.