Mirage Energy Corp (OTCMKTS:MRGE) Makes An Impressive Move: Here Is Why
The past months have been quite damaging to the energy industry as a whole. The crash in the oil price and then the widespread lockdowns sent the industry into a tailspin. Hence, there are very few energy stocks that have managed to actually record gains. One of those exceptions is Mirage Energy Corp (OTCMKTS:MRGE), which has performed admirably over the course of the past two weeks and seen its stock rocket by as much as 450%. Considering the handsome gains generated by the Mirage stock in the past two weeks, it could be remiss of investors not to track the company closely.
The most important development surrounding Mirage Energy came about last week when the company announced that it signed a debt facility worth as much a $4 billion with Bluebell International LLC. The San Antonio based company is going to use the debt facility to develop natural gas pipelines and underground storage for natural gas. It is also expected to be used towards work related to the Isthmus Corridor Project. These are projects which are at the core of Mirage Energy’s business, and the debt facility also indicates that in the long run, the company is going to be able to make money.
Mirage’s pipeline is actually interconnected to Whitewater Whistler and helps in supplying Mexico with affordable natural gas by way of a 42-inch pipeline that is yet to be built. On the other hand, once the company’s underground natural gas storage facility is completed, it is going to be the largest one in North America.
Mirage plans to build a facility with a capacity of as much as 786BCF. Moreover, this storage facility will be able to guarantee Mexico with as much as six months worth of natural supply even if there is some form of disruption.
The whole Isthmus Corridor project is quite ambitious at a number of levels. Mirage is building pipelines that will allow the company to deliver refined products and crude oil in an economical way to Mexico as well as Asia from the United States.
Mirage also revealed that the project would also help the company in saving as many as 36 days of true shipping time, and that is a considerable saving all things considered.
On the other hand, the company also mentioned back on June 12 that it signed a deal by way of which it is going to build pipeline worth $30 million in the state of Puebla in central Mexico. Mirage signed the deal with the state, and according to the terms of the agreement, it will have to supply 550 million British Thermal Units worth of gas to off-takers. It is another major deal and one that could add to the company’s growing influence in Mexico.
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