Saratoga Resources, Inc. Provides Operations Update
June 17 2014 - 8:30AM
Business Wire
Saratoga Resources, Inc. (NYSE MKT: SARA; the “Company” or
“Saratoga”) today provided an operations update pertaining to
handling capacity upgrades in Breton Sound 32 Field and
recompletion of the Company’s SL 195QQ #25 well in Main Pass 47
Field.
The Company has commenced construction of an additional sales
line to expand production capacity in Breton Sound 32 Field. The
added capacity, anticipated to be online by the end of June, is
expected to more than double existing export capacity in the field
and to allow the Company to increase production from the Company’s
recently completed Rocky 3 well, return curtailed wells to
production, and to add capacity to support additional horizontal
wells targeting the 5,800’ sand being evaluated for drilling in
Breton Sound 32 Field.
The Company also announced the successful recompletion of the SL
195QQ-25 “Roux Toux” well in Main Pass Block 47 field with the 14A
sand perforated and completed between 8,943-53’ MD. The well tested
on June 12th at a gross rate of 1,480 thousand cubic feet of gas
per day (“MCFPD”) and 14 barrels of condensate per day (“BCPD”), or
net 188 BOEPD, on a 10/64” choke with FTP of 2,500 psi. The Roux
Toux well produces back to the Company’s Grand Bay facilities.
About Saratoga Resources
Saratoga Resources is an independent exploration and production
company with offices in Houston, Texas and Covington, Louisiana.
Principal holdings cover 52,103 gross/net acres, mostly held by
production, located in the transitional coastline and protected
in-bay environment on parish and state leases of south Louisiana
and in the shallow Gulf of Mexico Shelf. Most of the company’s
large drilling inventory has multiple pay objectives that range
from as shallow as 1,000 feet to the ultra-deep prospects below
20,000 feet in water depths ranging from less than 10 feet to a
maximum of approximately 80 feet. For more information, go to
Saratoga's website at www.saratogaresources.com and sign up for
regular updates by clicking on the Updates button.
Forward-Looking Statements
This press release includes certain estimates and other
forward-looking statements within the meaning of Section 21E of the
Securities Exchange Act of 1934, including, but not limited to,
statements regarding future production levels and production
handling capacity, the timing of any particular operations and the
ultimate outcome of such efforts. Words such as "expects”,
"anticipates", "intends", "plans", "believes", "assumes", "seeks",
"estimates", "should", and variations of these words and similar
expressions, are intended to identify these forward-looking
statements. While we believe these statements are accurate,
forward-looking statements are inherently uncertain and we cannot
assure you that these expectations will occur and our actual
results may be significantly different. These statements by the
Company and its management are based on estimates, projections,
beliefs and assumptions of management and are not guarantees of
future performance. Important factors that could cause actual
results to differ from those in the forward-looking statements
include the factors described in the "Risk Factors" section of the
Company's filings with the Securities and Exchange Commission. The
Company disclaims any obligation to update or revise any
forward-looking statement based on the occurrence of future events,
the receipt of new information, or otherwise.
for Saratoga Resources, Inc.Brad Holmes, 713-654-4009Investor
RelationsorAndrew Clifford, 713-458-1560PresidentorJohn Ebert,
985-809-9292Vice President – Finance and Business
Developmentwww.saratogaresources.com