The Ever-acquiring and Growing Allied Energy Corporation
Allied Energy Corporation develops and produces oil and gas reserves in some of the best regions of the United States. They have successfully acquired wells across the hydrocarbon areas to restart and commercially produce oil and gas from wells by bringing them back to life with minimal costs to the company. Some of the well sites are partially ready for production again or the original wells are far from a production zone and will be tailored in future plans. Allied Energy has used a model of rehashing or slightly adding to existing wells and putting them back into production, thus saving on wells that need to be drilled, completed and equipped.
They aim to deliver the highest quality petroleum to the market in an environmentally sustainable fashion. They scout and source areas of bypassed oil and gas to go back into production and steadily engage with their shareholders for the best return on their investment, of which there are 420,000 wells in the U.S. They use updated techniques such as hydraulic fracturing (“fracking”), drilling of lateral (“horizontal”) legs in productive zones and specific electric logging to discover bypassed pays. Allied Energy Corp (OTCBB :AGYP) believes there is a stream of untouched potential beneath the grounds that were missed nearly 30 years ago.
By using market research on wells and overlooked oil and gas areas, they are choosing to use data to grow and impact the industry. They have their eyes on other projects and acquisitions across the US to diversify and increase revenue and production for those involved. The company have new projects presently in South and East Texas, which caused some positive spikes in the market. Many of their projects are set to produce more than 100 barrels of oil per day (based on previous data that was collected) and some include sites of heavy oil which is now a sought after variant.
Allied Energy Corp (OTCBB :AGYP) has worked with the Texas Railroad Commission to secure their operating permits and has secured Oil Cat Energy Services for leases and to pinpoint exact well locations. They have reached different stages across projects to turn on plants in early 2021 and begin the work on modernizing these wells with the latest technology and equipment.
Allied Energy CEO George Montieth, is leading the helm with over 30 years of experience across the globe specializing in executive authority and management responsibilities with resource-based companies. Having spent time amongst Geologists, Economics and Management, he is clear on making good use of America’s natural resources and plumbing it back into the heart of the US, “Allied is positioned to take advantage of this surge by providing resources from American soil to American businesses and consumers. We think energy resources that are used in the USA should originally and actually come from the USA.”
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