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

Monster.com, NFL Name 32 Finalists to Find the Next “Director of Fandemonium”
MAYNARD, Mass. - Monster.com®, the leading global online career and recruitment res

Community Bankers Trust Corporation Announces Retirement of George Elliott from Board of Directors
GLEN ALLEN, Va. - Community Bankers Trust Corporation, the holding company for Essex Bank (the “Company”) (NYSE Amex: BTC), announced today that George B. Elliott will retire from the Company’s Board of Directors effective December 31, 2009. Mr. Elliott has been a director

EuroPapi Seeks To Sponsor Young Up-And-Coming Amateur Pilot To Beat Valentino Rossi In MotoGP
The EuroPapi clothing line is an infusion of Scooters, Skating, Surfing & Motorcycle Culture all in one. The company hopes to use online marketing, radio, television and news to assist them in their quest to sponsor an up-and-coming EuroPapi pilot/I/P PJerez De La Frontera, Spain (...

Edmunds.com Comments on Toyota Recall of Accelerator Pedal
SANTA MONICA, Calif. -

SIRIOS Resources Inc. and Dios Exploration Inc./PONTAX-LITHIUM: Up to 0,97% Li2O Over 21 M Intersected by Diamond Drilling and 1,03% Li2O Over 19 m in Channel Sampling
MONTREAL, QUEBEC -- 11/25/09 -- Officers of SIRIOS RESOURCES INC. (TSX VENTURE: SOI) and DIOS EXPLORATION INC. (TSX VENTURE: DOS) are pleased to announce the results from diamond drilling and channel sampling from the PONTAX - LITHIUM property in J..

First Ever Black Friday Sales Event for Plastic Surgery to be Held by Payman Simoni, MD
BEVERLY HILLS, Calif., Nov. 25 /PRNewswire/ -- The biggest shopping day of the year is here again, and while major retailers across the nation look to battle it out with pricing wars, one renowned Beverly Hills Plastic Surgeon has decided to join the festivities.

AMPAC Fine Chemicals Receives Prestigious Award at California's Annual Statewide Environmental Summit
RANCHO CORDOVA, Calif., Nov. 25 /PRNewswire/ -- AMPAC Fine Chemicals LLC (AFC), a subsidiary of American Pacific Corporation (Nasdaq: APFC) announced today that it received the Environmental Responsibility and Sustainability Award at the Annual Statewide Environmental Summit, sponsored ...

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.