Saratoga Resources Inc. (NYSE MKT: SARA; the “Company” or “Saratoga”) today announced that it was successful in acquiring the 212.41 acre Little Bay lease at the Louisiana state lease sale, held on November 13, 2013 in Baton Rouge. The lease has a primary term of three years and provides for a lease bonus, including fees, of $86,026.05 with annual rentals of $37,171.75 and a 25% royalty to the state of Louisiana. The [...]
Saratoga Resources Inc. (NYSE MKT: SARA; the “Company” or “Saratoga”) today announced financial and operating results for the quarter ended September 30, 2013. Key Financial Results Oil revenue of $16.3 million for Q3 2013 compared to $14.2 million for Q3 2012; Gas revenue of $0.9 million for Q3 2013 compared to $2.2 million for Q3 2012; Discretionary cash flow of $1.8 million, or $0.06 per fully diluted share [...]
Saratoga Resources Inc. (NYSE MKT: SARA; the “Company” or “Saratoga”) today announced it will host a conference call to discuss results of operations for the third quarter of 2013. The conference call will be held on Wednesday, November 13, 2013 at 9:30 AM Central Time (10:30 AM ET; 7:30 AM PT). The call in number for those wishing to participate is (866) 501-1535 for U.S. participants and (216) 672-5582 for [...]
Saratoga Resources Inc. (NYSE MKT: SARA; the “Company” or “Saratoga”) today announced that full production has been resumed after a brief shut-in caused by Tropical Storm Karen. The Company shut-in production on Friday afternoon, October 4, 2013 when it was determined that the storm was headed towards the southeastern coast of Louisiana. Following weakening of the storm, work began on Sunday, October 6th to bring [...]
Saratoga Resources Inc. (NYSE MKT: SARA; the “Company” or “Saratoga”) today announced that it was successful in acquiring two new leases at the Louisiana state lease sale, held on September 11, 2013 in Baton Rouge. Saratoga acquired leases on the 552.25 acre Panther Prospect and the 305.71 acre Tiger Toux Prospect, for a combined total of 857.96 acres. The leases are located in Breton Sound Blocks 18, 19 and 32 [...]
Saratoga Resources Inc. (NYSE MKT: SARA) (the “Company” or “Saratoga”) today provided an update on its recent Zeke development well in Breton Sound Block 32 field. The SL 1227-26 “Zeke” well was spud on August 5, 2013 and drilled as a directional hole to a total depth of 6,430’ measured depth/5836.7’ true vertical depth. The well is a high angle directional well in the 5800’ sand in the south-eastern portion of the [...]
Saratoga Resources Inc. (NYSE MKT: SARA; the “Company” or “Saratoga”) today provided an update on its recent development drilling activity in Breton Sound Block 32 field. The SL 1227-25 “Rocky” well, in 13 feet of water depth, was spud with the Parker 77B inland barge rig on July 4th. A directional pilot well was drilled to a total depth (“TD”) of 6254’ measured depth (“MD”)/5858’ true vertical depth (“TVD”), as [...]
Saratoga Resources Inc. (NYSE MKT: SARA; the “Company” or “Saratoga”) today announced it will present at The Oil and Gas Conference 18 in Denver, CO, hosted by EnerCom, Inc. The presentation will be at 10:30 am MDT (12:30 pm EDT, 9:30 am PDT) on Tuesday August 13, 2013. The presentation will be webcast and can be viewed at the Company website, www.saratogaresources.com About Saratoga Resources Saratoga Resources is an [...]
Saratoga Resources Inc. (NYSE MKT: SARA; the “Company” or “Saratoga”) today announced financial and operating results for the quarter ended June 30, 2013. Key Financial Results Oil revenue of $15.8 million for Q2 2013 compared to $21.5 million for Q2 2012; Gas revenue of $1.9 million for Q2 2013 compared to $2.3 million for Q2 2012; Discretionary cash flow of $3.8 million, or $0.12 per fully diluted share, for Q2 [...]
Saratoga Resources Inc. (NYSE MKT: SARA; the “Company” or “Saratoga”) today announced it will host a conference call to discuss results of operations for the second quarter of 2013 and provide an update on its current operations. The conference call will be held on Friday, August 9, 2013 at 9:30 am CDT (10:30 am EDT, 7:30 am PDT). The call-in phone number for those wishing to participate is (866) 501-1535, conference ID [...]
Saratoga Resources Inc. (NYSE MKT: SARA; the “Company” or “Saratoga”) today provided details on its updated corporate strategy and recent, and upcoming, staff additions. Saratoga’s strategy continues to focus on growing its production base organically via the drill-bit and through recompletions of its numerous behind-pipe opportunities. With its recent successful acquisition of leasehold acreage in the shallow Gulf of [...]
Saratoga Resources today provided an update on recent operations, including completion of facilities upgrade operations to return its Main Pass 25 Field to optimal uninterrupted production. In Main Pass 25 Field, as previously announced, the Company has, for almost 6 months, experienced production curtailments resulting from third party handling issues and temporary lack of gas lift. In order to address those issues, the [...]
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