CALGARY, ALBERTA–(Marketwired – Jan. 7, 2016) – Emerald Bay Energy Inc. (TSX VENTURE:EBY) (the “Company” or “Emerald Bay”) is pleased to provide an update on their recent business initiative in South Texas.
Emerald Bay is proud to announce its partnership with Alliance Petroleum Interests (“Alliance”) on a new well development program in South Texas. Alliance is a privately owned and operated oil and gas company based out of Dallas, Texas. Alliance explores, develops and acquires prolific oil and gas reserves primarily in Oklahoma, Texas, Louisiana and Colorado.
“We couldn’t be more thrilled about the relationship we’ve developed with Emerald Bay Energy, and we are excited to partner with them as they expand their land position here in Texas,” said Tara Simpson, CEO of Alliance Petroleum.
The first joint project for Emerald Bay and Alliance will be a four-well infield drilling program in South Texas. Alliance Petroleum Interests previously evaluated the selected location for stringent geological criteria to ensure the financial success of the wells for the Company and its new partner. Emerald Bay has experience drilling, operating and reworking approximately 400 wells in the near vicinity and will be the operator on this project.
Commencement on this first project is expected to begin immediately with the first two wells to be drilled and completed over the next few weeks.