APHE Restarts Oil Production from Newly Acquired Logan 1 Leases

Source: www.gulfoilandgas.com 6/13/2022, Location: North America

Alpha Energy, Inc. has completed its first sale of crude oil from its recently acquired leases. Just 2 ½ months after closing on 5 producing and 26 additional leased wells, Alpha is pleased to announce that it has completed its first commercial sale of crude oil. This marks the first sale of crude oil in Alpha’s history and validates the strategy to identify, acquire and develop shallow recoverable oil and gas reserves from existing wellbores. As the company continues to rework and/or recomplete wells it looks forward to expanding its near-term cash-flow taking advantage of the recent spike in energy markets.

Jay Leaver, President said “First revenue is a significant milestone for any new, growing company. The Logan 1 Project confirms our strategic plan which includes successfully re-opening dormant producers, perforating new zones in existing wells and, eventually, drilling new infill opportunities. When these wells were idled many were high quality and in production but were off-line due to the downturn in energy pricing. We intend to continue making progress acquiring and re-opening wells where significant undeveloped potential can be identified.”


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