Allied Energy Begins Production Operations in Southeast Ohioadmin
Allied Energy, Inc. announced that it has commenced production operations for its developments in Washington and/or Athens Counties, Ohio.
The Humphrey #1 (first well) has been completed for production and turned into the line producing on the 10th of October. Although no assurances can be made, we believe this well could produce in the 70,000 cubic feet of gas per day range, which equates to monthly gross projected revenue exceeding $13,000 per month from one well.
The Pannel #1, Kidder #1, Bailey #1, Ladd #1 and Sillaman #1 each have been drilled to 4,000 +/- feet and encountered gas in multiple formations including various shale sections and the Oriskany Sandstone. The Pannel #1 is the first well scheduled for completion.
The Company now has plans to drill two (2) additional well locations for a total of eight (8) wells in Washington and/or Athens Counties, Ohio.
“We are definitely pleased with the fact that the Humphrey #1 was drilled, completed and turned into the gas sales line in about six (6) weeks,” added Stengell.
Allied Energy, Inc. (Other OTC:AGGI.PK) is an independent energy development firm primarily engaged in the exploration, development, and production of oil and natural gas in the continental United States. The company relies upon its industry partners, well operators, geologists, petroleum engineers, and financial analysts whose combined industry experience is essential to the success of each project. Allied Energy’s strategic focus is the development of oil and natural gas reserves. As the fuel of choice to meet the growing demand for a clean-burning domestically produced fuel, the company firmly believes its natural gas exploration strategy should provide substantial growth to the company for the years to come.
For more information: www.alliedenergy.com