AXP Energy Upsizes Pump at Charlie #1 Well to Unlock Mississippian Output

The latest announcement is out from AXP Energy ( (AU:AXP) ).

AXP Energy has reported early operational results from its Charlie #1 well in Noble County, Oklahoma, showing intermittent oil production of up to 25 barrels per day and steady gas output of about 60 thousand cubic feet per day under deliberately conservative pumping conditions. With no on-lease saltwater disposal facility yet in place, AXP has limited initial fluid recovery to manage water handling and reduce operational risk, but the company is now upgrading to a larger pumpjack to increase fluid movement to 400–500 barrels per day, aiming to unlock higher oil and gas rates comparable to nearby Mississippian Limestone wells that have achieved significantly stronger production. These initial results, supported by log data and alignment with regional offsets, suggest Charlie #1 exhibits characteristics consistent with commercial Mississippian producers and reinforce AXP’s confidence in the reservoir and its broader development runway on the Edwards Lease.

The most recent analyst rating on (AU:AXP) stock is a Hold with a A$0.02 price target. To see the full list of analyst forecasts on AXP Energy stock, see the AU:AXP Stock Forecast page.

More about AXP Energy

AXP Energy Limited is an oil and gas company with operations in the United States, including a 100% working interest and 81.25% net revenue interest in the 1,000-acre Edwards Lease near Ponca City, Oklahoma. The company is focused on developing the Mississippian Limestone formation in a well-established hydrocarbon-producing region, with potential for multiple vertical wells on 40-acre spacing to support near-term development plans.

YTD Price Performance: 18.75%

Average Trading Volume: 554,102

Technical Sentiment Signal: Sell

Current Market Cap: A$7.14M

See more insights into AXP stock on TipRanks’ Stock Analysis page.