Amelia Resources LLC will sell 85,000 net acres in the Louisiana Austin Chalk as the play enjoys a resurgence among operators and sparks of A&D activity and leasing activity.
The Woodlands, Texas, company said Jan. 3 that a large U.S.-based operator, which it did not identify, purchased the assets for $87 million. Executives at Amelia could not immediately be reached for comment.
Amelia’s President Kirk Barrell said in a news release the company sold its acreage position after only “recently acquiring” it.
"With the rapid emergence of this exciting new play, this focused package of leases presents a large new player an excellent acreage foundation to build upon,” he said.
Interest continues to stir in the Louisiana Austin Chalk, where leasing is beginning to pick up after years as a virtual no-man’s-land. Partly the trend is linked to the success brought about in the Texas Austin Chalk, where innovations in drilling and completions have created consistent and impressive well results.