A little less than two weeks ago Allied Energy Corp (OTC PINK: AGYP) was determined to put its company on the right path by adding Curtis William Boyles, a key member to their team. As of March 22, 2021, AGYP has signed their final agreement with Energy Management Resources (LLC) to obtain 80% stake of two Northern Texas oil wells.
The estimated recovery of the these tow Northern
Texas wells is significant. Palo Pinto
#1 and Palo Pinto #2 are expected to produce approximately 113.000 barrels of oil or about $6.7 million, assuming the price of $60 per barrel of crude oil is
held or rises even higher.
This is major step that AGYP Is undertaking will captipult it further towards success. First with the hiring of Curtis William Boyles as oil operation manager, and now with the acquiring of these two wells making the real oil production of AGYP only just a few short weeks away. The company is aiming to operate multiple wells on two different leases and acquire more wells this year. It is safe to assume that with the direction the company AGYP is taking, the decisions they are making, and the people they are hiring, that AGYP is currently in a great position within the oil sector. It appears that they are acquiring the knowledge and expertise they need to further expand in the growing oil market ensuring even greater success in the future.
About AGYP: Allied Energy Corp. is an energy development and production company focused on acquiring proven oil & gas reserves in some of the most prolific hydrocarbon bearing regions of the United States. The Company specializes in reworking and/or re-completing ‘existing’ oil & gas wells in some of the thousands of mature oil and gas producing fields across the United States. The Company applies its knowledge, experience, and effective well-remediation technologies to achieve higher production volumes, longer well life, and more efficient recovery of the proven and available oil and gas reserves in the fields/projects in which it has acquired an ownership interest. By acquiring interests in a growing number of selected projects in various regions, Allied Energy Corp. plans to develop a diverse portfolio to empower growth while mitigating risk.
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