$AGYP is among energy stocks to buy amid russia-ukraine crisis!
AGYP
Allied Energy Corporation (OTC: AGYP) is a domestic producer known for its mission to purchase and rework existing oil and gas wells across the US. For years now, the company has been utilizing its technology to access existing, abandoned oil and gas wells. With a proven record of success in identifying and reworking existing oilfields, AGYP could be one of the most promising energy stocks to invest in as demand for oil increases in light of the russia ukraine crisis.
With 12 exploration projects in the works, AGYP has had to work consistently to maintain its production timeline. These efforts appear to have paid off given that the 300-acre Gilmer site producing oil and gas since October and the 980-acre Green Lease producing since September.
According to an engineering and economic evaluation of the sites’ reserves, the Green Lease site holds $2,944,900 of proved oil and a total of $18,536,600 for both probable and possible oil. Meanwhile, Annie Gilmer site holds $6,704,900 in proved oil and gas reserves with $5,489,900 in probable and possible reserves.
The company has major plans for both sites in 2022. For the Green lease, AGYP plans to install the second ESP on Well X-3 once the assessment of Well M-1 is complete. If both wells prove successful, AGYP plans to evaluate three other wells at the site. Upon ensuring favorable production rates, AGYP will focus on developing a 3D seismic survey to identify other potential drilling targets on the site.
Looking at the Gilmer lease in 2021, the pump set-up yielded an average of 160 to 300 barrels of total fluids on a daily basis. However, the company is adamant on achieving maximum potential and is intends to establish a pump setup that attains 1000 barrels of fluid per well every day. To do that, AGYP is now working with Tri-County to install a 3-phase/200 amp service to the lease before Q1 ends. If successful, AGYP plans to set an electrical submersible pump (ESP) in one of the wells to produce up to 1500 barrels of fluid daily. By doing this, the company could ramp up production and easily capitalize on the increasing supply shortages.
With these two lucrative sites now operating, the company has dedicated its efforts to preparing its newest and most promising site for production – the 325-acre Prometheus site. By drawing down the fluid at a pace of 2000 to 2400 barrels per day, the Prometheus site has generated a total of 3 loads – with each load carrying 160-170 oil barrels – for the company in 2021.
As of Q1, the company reported continuous sales generated from the Well 1H. However, to maximize its potential and improve its oil production, AGYP is now focused on installing a transfer pump and flaring all the gas to reduce the pressure in the well. If successful, these efforts will result in an increase in oil production for the well and will lead to massive increase in the site’s growth numbers.
To facilitate further growth, the company is now planning to uplist to a higher exchange will increase the company’s visibility on a global scale. With oil prices climbing due to the current political state, an increasing number of investors will be drawn to the oil and gas industry. For this reason, uplisting to a higher exchange seems like a strategic decision that is bound to result in greater visibility and ultimately increase shareholder value.
Aside from its uplisting plans, AGYP recently announced it is implementing an ongoing share repurchase program for its common shares. The company wants to lower its public float by repurchasing shares on the open market or making private acquisitions. While further details regarding this buyback is yet to be disclosed, investors are bullish on this share buyback could lower AGYP’s already low float of 47 million and position it for a major run. With this in mind, AGYP’s CEO – George Montieth – believes “these initiatives will benefit both the company and shareholders by building real value now and in the future.”
Despite all these milestones, 2022 could prove even more profitable for AGYP. With a bullish oil market, the company stands to benefit immensely from the increasing oil prices as it ramps up production in its existing sites and explores more lucrative sites across the country.
For a deeper look at AGYP’s various ventures, check out this article and discover the company’s true potential in 2022.
https://pennystocks.today/energy-stocks-to-bu...ne-crisis/
AGYP
Allied Energy Corporation (OTC: AGYP) is a domestic producer known for its mission to purchase and rework existing oil and gas wells across the US. For years now, the company has been utilizing its technology to access existing, abandoned oil and gas wells. With a proven record of success in identifying and reworking existing oilfields, AGYP could be one of the most promising energy stocks to invest in as demand for oil increases in light of the russia ukraine crisis.
With 12 exploration projects in the works, AGYP has had to work consistently to maintain its production timeline. These efforts appear to have paid off given that the 300-acre Gilmer site producing oil and gas since October and the 980-acre Green Lease producing since September.
According to an engineering and economic evaluation of the sites’ reserves, the Green Lease site holds $2,944,900 of proved oil and a total of $18,536,600 for both probable and possible oil. Meanwhile, Annie Gilmer site holds $6,704,900 in proved oil and gas reserves with $5,489,900 in probable and possible reserves.
The company has major plans for both sites in 2022. For the Green lease, AGYP plans to install the second ESP on Well X-3 once the assessment of Well M-1 is complete. If both wells prove successful, AGYP plans to evaluate three other wells at the site. Upon ensuring favorable production rates, AGYP will focus on developing a 3D seismic survey to identify other potential drilling targets on the site.
Looking at the Gilmer lease in 2021, the pump set-up yielded an average of 160 to 300 barrels of total fluids on a daily basis. However, the company is adamant on achieving maximum potential and is intends to establish a pump setup that attains 1000 barrels of fluid per well every day. To do that, AGYP is now working with Tri-County to install a 3-phase/200 amp service to the lease before Q1 ends. If successful, AGYP plans to set an electrical submersible pump (ESP) in one of the wells to produce up to 1500 barrels of fluid daily. By doing this, the company could ramp up production and easily capitalize on the increasing supply shortages.
With these two lucrative sites now operating, the company has dedicated its efforts to preparing its newest and most promising site for production – the 325-acre Prometheus site. By drawing down the fluid at a pace of 2000 to 2400 barrels per day, the Prometheus site has generated a total of 3 loads – with each load carrying 160-170 oil barrels – for the company in 2021.
As of Q1, the company reported continuous sales generated from the Well 1H. However, to maximize its potential and improve its oil production, AGYP is now focused on installing a transfer pump and flaring all the gas to reduce the pressure in the well. If successful, these efforts will result in an increase in oil production for the well and will lead to massive increase in the site’s growth numbers.
To facilitate further growth, the company is now planning to uplist to a higher exchange will increase the company’s visibility on a global scale. With oil prices climbing due to the current political state, an increasing number of investors will be drawn to the oil and gas industry. For this reason, uplisting to a higher exchange seems like a strategic decision that is bound to result in greater visibility and ultimately increase shareholder value.
Aside from its uplisting plans, AGYP recently announced it is implementing an ongoing share repurchase program for its common shares. The company wants to lower its public float by repurchasing shares on the open market or making private acquisitions. While further details regarding this buyback is yet to be disclosed, investors are bullish on this share buyback could lower AGYP’s already low float of 47 million and position it for a major run. With this in mind, AGYP’s CEO – George Montieth – believes “these initiatives will benefit both the company and shareholders by building real value now and in the future.”
Despite all these milestones, 2022 could prove even more profitable for AGYP. With a bullish oil market, the company stands to benefit immensely from the increasing oil prices as it ramps up production in its existing sites and explores more lucrative sites across the country.
For a deeper look at AGYP’s various ventures, check out this article and discover the company’s true potential in 2022.
https://pennystocks.today/energy-stocks-to-bu...ne-crisis/
