Meridian Provides Operations and Capital Budget Update
HOUSTON, Nov. 5, 2008 (GLOBE NEWSWIRE) -- The Meridian Resource Corporation (NYSE:TMR) today provided a status update on its current operations and budget plans. The Company's 2008 capital expenditures have been focused on exploitation in two primary areas, south Louisiana legacy fields (Weeks Island and Turtle Bayou) and its East Texas Austin Chalk play. The revitalization of the legacy assets across south Louisiana and the development of our large acreage position in the heart of our East Texas Austin Chalk program, plays a key role in the Company's current and future operations. As an expansion of that idea, the Company has acquired approximately 30,000 acres in Karnes and Lavaca counties, Texas, in the midst of, and on strike with, a recently discovered, very large potential, Eagleford shale play
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