Saratoga Resources, Inc. Provides Operations Update
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.
Contact
for Saratoga Resources Inc.
Brad Holmes, 713-654-4009
Investor Relations
or
Andrew Clifford, 713-458-1560
President
or
John Ebert, 985-809-9292
Vice President – Finance and Business Development
www.saratogaresources.com
