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Sage Natural Resources LLC Announces Strong Initial Production Results from its Successful Completion of Eight Barnett Shale Horizontal Wells from a Multi-Well Pad

TULSA, Okla., Sept. 16, 2021 /PRNewswire/ — Sage Natural Resources LLC (“Sage” or the “Company”) announced today that it recently completed eight horizontal wells targeting the Barnett Shale formation from its Rosedale SW pad. 

The eight Rosedale SW wells were drilled with an average lateral length of more than 7,000 feet at an average completed well cost of less than $3 million per well. Average first month production exceeded 200,000 Mcf per well and supports an average EUR in excess of 11 Bcf per well.   

Gavin D. McQueen, President and COO of the Company stated, “The Rosedale SW pad is indicative of the robust, low-risk undeveloped reserves that can be efficiently harvested from the United States’ oldest shale play. Multi-well pads in the Barnett Shale offer extremely competitive finding costs and returns. Sage continues to accumulate actionable drilling permits across the Company’s 57,000 net acres in Texas with line of sight to similar multi-well projects in the future, including a six-well pad currently underway.”

Sage is a privately held onshore exploration and production company headquartered in Tulsa, Oklahoma. 

Contact: Jason Tackett, 918-900-6445, jtackett@sagenr.com