Australian firm buys Encana’s Tuscaloosa Marine Shale acreage, but don’t expect a rush of drilling


[cross-posted from charlotte’s oil & gas news]

charlotte: Let’s be honest, making the economics work in the TMS was “heavy lifting” EVEN at $100/bbl!!! So you can imagine the HERCULEAN task that Australis has taken on – good luck!!! The Baton Rouge Advocate called me to comment on this transaction (previous post here), and here’s the result – enjoy!!!

Here’s the article:

An $80 million Australis Oil & Gas Co. deal for Encana Corp.’s remaining acreage in the Tuscaloosa Marine Shale is an encouraging sign, but oil prices will continue to limit the amount of new drilling, industry experts say…

All opinions are my own, and no relationship with any company in the article is implied. Read full article at the publisher’s site: Australian firm buys Encana’s Tuscaloosa Marine Shale acreage, but don’t expect a rush of drilling

Photo of Helis Oil & Gas Eads-Poitevent No. 1 well at spud in St. Tammany Parish LA courtesy Greg Beuerman