$AGYP on strong watch! >> When it comes to U.S. oil production there's no region more important than the Permian Basin. The region produces around 40% of all oil in the U.S. and throws in 15% of the country's natural gas for good measure.
Since taking a major hit to production during COVID, the region has been on the upswing, and that is why several stocks in the Permian Basin look like great ways to play the recovery in this historic piece of land encompassing parts of New Mexico and Texas.
Some of the larger oil producers in the region may not be the best way to play the Permian recovery because most of the oil giants are diversified into many of the areas facing political tumult. Here are a few pure Permian plays to look at today.
Allied Energy Group, Inc. (OTCMKTS: AGYP) is a Permian play with a wealth of projects in the region. AGYP's strategy is to acquire and rework proven wells utilizing the newest technology to extract resources previous explorers were unable or at the time found too costly to recover. The strategy has worked extremely well if their first year of operation is any indicator. In 2021, AGYP brought 5 wells online with this strategy.
Heading into 2022, the company may have their first production numbers to report, add to that they are closer to production on a 6th well at the Prometheus site, acquired earlier this year.
CapitalGainsReport: Permian Basin Oil Cos Could Rise in '22 (AGYP, MDMP, OILCF, BSM, ICD)
https://www.marketscreener.com/amp/quote/stoc...-37504570/
Since taking a major hit to production during COVID, the region has been on the upswing, and that is why several stocks in the Permian Basin look like great ways to play the recovery in this historic piece of land encompassing parts of New Mexico and Texas.
Some of the larger oil producers in the region may not be the best way to play the Permian recovery because most of the oil giants are diversified into many of the areas facing political tumult. Here are a few pure Permian plays to look at today.
Allied Energy Group, Inc. (OTCMKTS: AGYP) is a Permian play with a wealth of projects in the region. AGYP's strategy is to acquire and rework proven wells utilizing the newest technology to extract resources previous explorers were unable or at the time found too costly to recover. The strategy has worked extremely well if their first year of operation is any indicator. In 2021, AGYP brought 5 wells online with this strategy.
Heading into 2022, the company may have their first production numbers to report, add to that they are closer to production on a 6th well at the Prometheus site, acquired earlier this year.
CapitalGainsReport: Permian Basin Oil Cos Could Rise in '22 (AGYP, MDMP, OILCF, BSM, ICD)
https://www.marketscreener.com/amp/quote/stoc...-37504570/
