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AXP Energy ( (AU:AXP) ) just unveiled an update.
AXP Energy Limited has reported its quarterly activities, highlighting the drilling of its first vertical well in Oklahoma following the acquisition of 1,400 acres. The company raised A$2.7 million through a two-tranche placement to fund exploration and development. Despite a decline in production due to extreme weather and equipment shutdowns, AXP Energy is focusing on scaling operations in Oklahoma, influenced by delays in approvals in Colorado. The company plans to drill additional wells in the coming months, with the next site already selected and permitting underway.
More about AXP Energy
AXP Energy Limited operates in the oil and gas industry, focusing on exploration and development activities. The company has a significant presence in Oklahoma and Colorado, leveraging its expertise in hydraulic fracture stimulation and well drilling to enhance its production capabilities. AXP Energy is committed to expanding its operations and maximizing its output through strategic acquisitions and partnerships.
YTD Price Performance: -34.62%
Average Trading Volume: 617,577
Technical Sentiment Signal: Sell
Current Market Cap: A$6.39M
Find detailed analytics on AXP stock on TipRanks’ Stock Analysis page.