DENVER, Aug. 28 (Korea Bizwire) — Sundance Energy Australia Limited (ASX:SEA) (NASDAQ:SNDE) (“Sundance” or the “Company”), a U.S. onshore oil and gas exploration and production company focused in the Eagle Ford in South Texas, shut in approximately 75% of its Eagle Ford production on Friday, August 25, 2017 in the United States to ensure the safety its local employees and protect from potential environmental and equipment damage due to Hurricane Harvey. Forecasted high winds of over 140 miles per hour and over 40 inches of rain are expected to cause catastrophic flooding. The hurricane has caused the majority of midstream and downstream natural gas and crude oil infrastructure to be shut down across the Texas Gulf Coast.
For the past 30-days and week prior to shutting in its wells Sundance was producing over 10,500 boe/d. Sundance anticipates its wells will be shut down for at least one week depending on the course of the storm. Once the storm has passed it will take at least one week to bring wells back online due to expected high demand for oil tanker trucks and other services.
About Sundance Energy Australia Limited
Sundance Energy Australia Limited (“Sundance” or the “Company”) is an Australian-based, independent energy exploration company, with a wholly owned US subsidiary, Sundance Energy Inc., located in Denver, Colorado, USA.
The Company is focused on the acquisition and development of large, repeatable oil and natural gas resource plays in North America. Current activities are focused in the Eagle Ford. A comprehensive overview of the Company can be found on Sundance’s website at www.sundanceenergy.net
The following disclaimer applies to this document and any information contained in it. The information in this release is of general background and does not purport to be complete. It should be read in conjunction with Sundance’s periodic and continuous disclosure announcements lodged with ASX Limited that are available at www.asx.com.au and Sundance’s filings with the Securities and Exchange Commission available at www.sec.gov.
Forward Looking Statements
This release may contain forward-looking statements. These statements relate to the Company’s expectations, beliefs, intentions or strategies regarding the future. These statements can be identified by the use of words like “anticipate”, “believe”, “intend”, “estimate”, “expect”, “may”, “plan”, “project”, “will”, “should”, “seek” and similar words or expressions containing same.
These forward-looking statements reflect the Company’s views and assumptions with respect to future events as of the date of this release and are subject to a variety of unpredictable risks, uncertainties, and other unknowns. Actual and future results and trends could differ materially from those set forth in such statements due to various factors, many of which are beyond our ability to control or predict. These include, but are not limited to, risks or uncertainties associated with the discovery and development of oil and natural gas reserves, cash flows and liquidity, business and financial strategy, budget, projections and operating results, oil and natural gas prices, amount, nature and timing of capital expenditures, including future development costs, availability and terms of capital and general economic and business conditions. Given these uncertainties, no one should place undue reliance on any forward looking statements attributable to Sundance, or any of its affiliates or persons acting on its behalf. Although every effort has been made to ensure this release sets forth a fair and accurate view, we do not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
For more information, please contact:
Eric McCrady, Managing Director
Tel: +1 (303) 543 5703
Mike Hannell, Chairman
Tel: +61 8 8363 0388
Source: Sundance Energy Australia Limited via GLOBE NEWSWIRE