A descendant of exploration activities that began in 1948 and resulted in wells still producing today, Adams Resources Exploration takes a conservative and astute approach to its business. This includes aligning ourselves with highly competent, successful operating partners, leveraging our investments through diverse prospects and limiting capital exposure by controlling our working interest level.
After successfully exploiting the Austin Chalk in Texas, we have expanded our area of interest to include the Gulf Coast from South Texas to Alabama. This is an area of considerable past production, offering excellent exploration opportunities. We concentrate on onshore lower exposure plays, and use state-of-the-art seismic techniques to limit risk. Recently we have again expanded to include the Cotton Valley, James Lime and Travis Peak trend plays in East Texas and North Louisiana. In 2005 we participated in the drilling of forty-one wells successfully completing thirty wells. We prefer programs with multi-well potential but remain opportunity-driven. This is best exemplified by our active participation in the U.K. sector of the North Sea where we have one promote block with partners and have submitted an application for two others in the 24th round held last June. |
