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Tuesday, 02 December, 2008, 22:10 GMT | more >>

Kansas assets hit right note for Amadeus



By Upstream staff 

Australia’s Amadeus Energy has bought an 85% stake in 113 petroleum leases in Kansas from White Eagle Resources for $58.5 million.

The leases cover an area of 18,240 acres and contain 300 wells, producing about 740 barrels of oil per day.

The assets have proved reserves of about 5.2 million barrels of oil and 720 million cubic feet of gas.

Amadeus said that 3D seismic surveys of 32 of the leases have identified 50 prospects. White Eagle had drilled 18 of these prospects with 15 finding economic reserves of oil.

The company added that there is potential for similar discoveries in the other leases that have not been covered by 3D seismic.


Thursday, 06 October, 2005, 01:21 GMT  | last updated: Thursday, 06 October, 2005, 09:32 GMT

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