Corporate Social Responsibility | Business Wire | PR NewsWire | Marketwire | Realwire | ACN/JCN newswire | 247pressrelease | PRWeb

Adams Resources Announces Haynesville Shale Activity

Posted : Mon, 09 Nov 2009 20:15:17 GMT
Author : Adams Resources & Energy, Inc.
Category : Press Release
News Alerts by Email ( click here )
News | Home

HOUSTON, Nov. 9 /PRNewswire-FirstCall/ -- Adams Resources & Energy, Inc. (NYSE Amex: AE) announced that during the third quarter of 2009 it participated in the drilling of three successful wells in the Haynesville Shale Play of Nacogdoches County, Texas. These wells, the Hill #1, the Pop Pop Gas Unit #1 and the Hassell Gas Unit #1, each began initial production rates from 12,000 to in excess of 15,000 mcf per day of natural gas with flowing tubing pressures in excess of 7200 psi. The Company has a 5% working interest in these wells. Based on the favorable results to date and a fourth well drilled earlier this year, the Company participated in a recent leasehold acquisition to expand its acreage position in the area. Presently, the Company holds a 5% working interest in approximately 43,000 acres, which includes the area of the four productive wells. A 2% working interest is held in approximately 24,000 additional acres. Further drilling activity is anticipated on this Haynesville opportunity with two rigs scheduled for December 2009 and additional rigs anticipated for 2010.

The information in this release includes certain forward-looking statements that are based on assumptions that in the future may prove not to have been accurate. A number of factors could cause actual results or events to differ materially from those anticipated. Such factors include, among others, (a) continued drilling of successful wells in the acreage discussed herein, (b) general economic conditions, (c) fluctuations in hydrocarbon prices and margins, (d) variations between commodity contract volumes and actual delivery volumes, (e) unanticipated environmental liabilities or regulatory changes, (f) counterparty credit default, (g) inability to obtain bank and/or trade credit support, (h) availability and cost of insurance, (i) changes in tax laws, and (j) the availability of capital, (k) changes in regulations, (l) results of current items of litigation, (m) uninsured items of litigation or losses, (n) uncertainty in reserve estimates and cash flows, (o) ability to replace oil and gas reserves, (p) security issues related to drivers and terminal facilities, (q) commodity price volatility (r) demand for chemical based trucking operations, (s) successful completion of drilling activity, (t) financial soundness of customers and suppliers and (u) adverse world economic conditions. These and other risks are described in the Company's reports that are on file with the Securities and Exchange Commission.

Rick Abshire (713) 881- 3609

SOURCE Adams Resources & Energy, Inc.


Copyright © 2008 PR Newswire. All rights reserved.

Share/Save/Bookmark

Article : Adams Resources Announces Haynesville Shale Activity
Print this article
Share this article

Stay Updated

News gadget on your Google homepage
Subscribe to a news feed in Google Reader



Related News

LiveDeal, Inc. Announces Management Change
LAS VEGAS - About LiveDeal, Inc. LiveDeal, Inc. provides local customer acquisition services for small businesses combined with an Internet Yellow Pages directory to deliver an affordable way for businesses to extend their marketing reach to l

FirstFed Financial Corp. Announces Extension of Expiration Date and Consent Payment Deadline for Tender Offers and Consent Solicitations
LOS ANGELES - FirstFed Financial Corp. (Pink Sheets: FFED) (the “Company”) announced today that it is extending the Expiration Date and Consent Payment Deadline with respect to its previously announced cash tender offers and consent solicitations for its outstanding senior debt s

Law Offices of Brian M. Felgoise, P.C. Announces Investigation of VCG Holding Corp.
PHILADELPHIA - The Law Offices of Brian M. Felgoise, P.C. announces an investigation into possible breaches of fiduciary duty and violations of state law, among other things, in connection with a proposed transaction to take VCG Holding Corp., ( VCG Holding or “The Company”) (Na

Law Offices of Brian M. Felgoise, P.C. Announces Investigation of Telecommunications Services, Inc.
PHILADELPHIA - The Law Offices of Brian M. Felgoise, P.C. announces an investigation into possible breaches of fiduciary duty and violations of state law, among other things, in connection with a proposed sale of Telecommunications Services, Inc, ( Telecommunications Services or “The

Cabot Microelectronics Corporation Reports Unsealing of Summary Judgment Order in Pending Patent Infringement Action against DuPont Air Products NanoMaterials, LLC
AURORA, Ill. - Cabot Microelectronics Corporation (Nasdaq: CCMP), the world’s leading supplier of chemical mechanical planarization (CMP) polishing slurries and growing CMP pad supplier to the semiconductor industry, reported today that, as anticipated in its press release of November

Fox Resources Ltd. Updates Otter Project
VANCOUVER, BRITISH COLUMBIA -- 11/25/09 -- Fox Resources Ltd. (TSX VENTURE: FAX) has completed a follow up soil geochemistry, prospecting and rock sampling program on its Otter Project in southern British Columbia. Assay results from the follow up ..

ADL Calls Israeli Settlement Freeze "Courageous and Unprecedented"
The Anti-Defamation League (ADL) today called the announcement by Israeli Prime Minister Benjamin Netanyahu that Israel would freeze West Bank settlement building for 10 months a “courageous and unprecedented” tangible expression of Israel’s deep desire for a peaceful settle...

Have your Say
Name
Email
Subject
Your Comment

Enter Verification code
 
  

 
Follow The Earth Times
Subscribe to RSS Follow Earth Times on TwitterNews by email
Share/Save/Bookmark
 
 



 
Subscribe to free Earthtimes
News Alerts by Email Click here
For RSS Feeds Click here
or Create your own RSS

Add to Google Toolbar
Breaking News
Press Releases

 


The Earth Times
News Category

© 2009 www.earthtimes.org, The Earth Times, All Rights Reserved | Privacy Policy
Earth Times accept no responsibility or liability either directly or indirectly for views or opinions expressed in articles or comments.