Foothills Exploration Inc (OTCMKTS:FTXP) Stock On Radar After Acquisition News

The oil and gas exploration company Foothills Exploration Inc (OTCMKTS:FTXP) generally operates through a range of direct and indirect subsidiary units and is focussed on fulfilling the energy needs of the present and the future.

Trading Data

On Friday, FTXP stock lost 33.33% to $0.0002 with more than 165.54 million shares, compared to volume of 56.72 million shares. The stock moved within a range of $0.0002 – 0.0003 after opening trade at $0.0003.

Foothills Exploration, Inc. Announces 545-Well Acquisition In Kansas And Oklahoma

The company came into focus back on Friday after it announced that it had been successful in completing the acquisition of some leases and wells in the states of Oklahoma and Kansas. The company noted that up until sufficient quantities of green energy could be products, the world is going to stay dependent on oil and natural gas as sources of energy. Foothills further stated that natural gas is expected to be a source of clean and reliable energy for the world for many years to come.

The company believes that the acquisitions would provide it with an inventory of wells which would help in boosting production for many years to come. Additionally, these assets would help Foothills to generate double digit growth in reserves, revenues and production this year and in 2024. The company stated that it had already put the infrastructure in place so as to work on low cost development. It remains to be seen if the Foothills stock comes into focus today.