Allied Energy (OTCMKTS: AGYP), a company with a strong focus on easing and reworking oil and gas projects in the state of Texas, announced that Petroleum Engineer had begun work on all of the Allied’s leases. The report will provide the company with detailed, proven, and probable reserves in all its leases. Earlier this week Allied Energy signed a contract with Energy Management Resources, LLC. You can read more about it here.
Work on Green Lease begun: The petroleum engineer Marck McBryde has undertaken the study or work on Reserves and Resources. The engineer is expected to provide a detailed report consisting of proven, probable, and possible reserves in all the Allied’s current leases. Marck will submit a separate report for each field, beginning with the “Green Lease.” The report will give a clear understanding of the entire resources under the company’s control. Further, the report will outline the proven, probable, and possible oil reserves for the leases Allied holds.
$AGYP, Tri-County electric is currently replacing the down poles on the Green Lease. Regaining electrical power is essential to achieving full production on our Wells.— Allied Energy Corporation (@AlliedEnergyCo1) July 28, 2021
Marcks holds strong expertise: Mark holds a degree in Petroleum Engineering from Texas Tech. Marck McBryde had served several prominent oil companies in the U.S and abroad as a Senior Production Engineer and Staff Production Engineer. As per the company, Mark is a reputed oilman with massive success in the industry. The reserve report prepared by Mark will provide Allied Energy with a financial valuation that can use within the oil and gas industry.
Once the current leases report is available, the company will upload the same or intimate the exchange or OTC Markets via supplement disclosures. Allied Energy applies its expertise, experience, and effective technologies in the field area to get the maximum production volumes. The company tries to effectively, which is expected to increase the life of the assets. The company is working more efficiently to recover the proven and probable oil and gas resources available in the fields in which the company acquired an ownership interest. In addition, the company also plans to concentrate on bypassed oil and gas since there is less competition in the particular field and the costs are also less compared to other fields.
Last week, the company updated that the pump is working find after it was fixed.
In another tweet the company posted a video of its Unit for Green Lease K-3 Well.