Indigo Natural Resources LLC Provides Operational Update
HOUSTON, April 4, 2019 /PRNewswire/ — Indigo Natural Resources LLC (“Indigo” or the “Company”) a privately-owned natural gas and natural gas liquids company with assets in the Haynesville Shale, the Bossier Shale and the Holly Vaughn formation today provided an operational update focused on Indigo net production, midstream joint venture gathering throughput and year-end 2018 Indigo reserves prepared by Netherland, Sewell & Associates, Inc.
- Achieved milestone production of 1.0 billion cubic feet of natural gas equivalent per day (“Bcfe/d”) net and 1.4 Bcfe/d gross in March 2019
- Increased throughput on the 50% owned M5 Louisiana Gathering LLC system to 1.0 billion cubic feet of natural gas per day in April 2019
Bill Pritchard, Indigo’s Founder and Executive Chairman, commented, “We are proud to announce that Indigo is the largest natural gas producer in North Louisiana with record net production of 1.0 Bcfe/d. As a result of our 2018 drilling program, our top-performing wells in the Haynesville, Bossier and Holly Vaughn and our accretive leasing and bolt-on acquisition program, we expanded our proved reserves to 4.7 Tcfe and maintained our proved, probable and possible reserves at 16.0 Tcfe at yearend 2018. Our 2019 development program with six to seven rigs and two frac crews is expected to drive meaningful growth and value to both Indigo and our midstream joint venture. Indigo will continue to benefit from our proximity to the Gulf Coast petrochemical and LNG demand centers which provides us with lower differentials to the Gulf Coast compared to other natural gas basins as well as a diversified base of purchasers for our natural gas.”
About Indigo Natural Resources LLC
Indigo Natural Resources LLC is an independent natural gas and natural gas liquids company headquartered in Houston, Texas. The company is currently the second largest producer in North Louisiana with operations in the Haynesville Shale, the Cotton Valley formation, where the Company specifically targets the Vaughn horizon in the Holly Field, and the Bossier Shale. The Company’s website is located at www.ndgo.com.
Forward Looking Statements
The information in this release includes “forward-looking statements.” All statements, other than statements of historical fact, included in this release regarding Indigo’s strategy, future operations, financial position, estimated revenue and losses, projected costs, prospects, plans and objectives of management are forward-looking statements. When used in this release, the words “could,” “believe,” “anticipate,” “intend,” “estimate,” “expect,” “will”, “project” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. These forward-looking statements are based on Indigo’s current expectations and assumptions about future events and are based on currently available information as to the outcome and timing of future events. These forward-looking statements are based on management’s current belief, based on currently available information, as to the outcome and timing of future events. Indigo cautions you that these forward-looking statements are subject to all of the risks and uncertainties, most of which are difficult to predict and many of which are beyond the Company’s control, incident to the exploration for and development, production and sale of natural gas. These risks include, but are not limited to, commodity price volatility, lack of availability of drilling and production equipment and services, environmental risks, drilling and other operating risks, regulatory changes, the uncertainty inherent in estimating natural gas reserves and in projecting future rates of production, cash flow and access to capital, the timing of development expenditures, and other risks.
Indigo Natural Resources
Emily Newport, SVP – Finance and Investor Relations