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The latest announcement is out from AXP Energy ( (AU:AXP) ).
AXP Energy Limited has successfully installed permanent production facilities at its Charlie #1 well in Noble County, Oklahoma. This development includes a separator, tank battery, gas sales line, and metering system, which are expected to enhance well control and enable immediate gas sales, marking a significant commercial milestone. The well is currently producing approximately 200 barrels of fluid per day, with the potential for increased oil and gas production as more frac fluid is recovered. The company has commenced initial natural gas sales, demonstrating the well’s capability to support cash flow. This infrastructure investment reflects AXP’s confidence in the well’s hydrocarbon potential and aligns with its strategy to integrate high-performance computing and crypto-mining developments with partners.
More about AXP Energy
AXP Energy Limited is an energy company focused on the exploration and production of oil and gas. It operates primarily in the United States, with a significant presence in Oklahoma, where it owns and manages various leases and wells.
YTD Price Performance: -34.62%
Average Trading Volume: 658,712
Technical Sentiment Signal: Sell
Current Market Cap: A$6.39M
Learn more about AXP stock on TipRanks’ Stock Analysis page.