Our mission to deliver natural resources to market at the most cost-efficient methods available, environmentally sustainable, and provide our shareholders the best possible return on their investment.
Allied Energy Corporation
Allied Energy Corp. is an energy development and production company acquiring oil & gas reserves in some of the most prolific hydrocarbon bearing regions of the United States.
The Company specializes in the business of reworking & recompleting ‘existing’ oil & gas wells located in the thousands of mature oil & gas producing fields across the United States.
There are literally thousands of wells that were abandoned while still commercially productive in their zones of completion. Many of these fields have additional productive reserves further away from the original wells production zone. Often these wells are fully or partially equipped for production. Many of these wells can be acquired for little or no cash outlay and then returned to commercial production following a workover of the wells and/or re-completion in now, productive zones. The cost to place the wells back into production is minimal when compared to wells that have to be drilled, completed and equipped.
Allied management team has a proven record of success in the industry and intends to foster rapid corporate growth through its ability to identify, acquire interests in, and rework oilfields that offer exceptionally attractive risk/reward parameters.
The Company applies its knowledge, experience, and effective well-remediation technologies to achieve higher production volumes, longer well life, and more efficient recovery of the proven and available oil and gas reserves in the fields/projects in which it has acquired an ownership interest.
The Company will utilize updated technologies such as hydraulic fracturing (“fracking”), drilling of lateral (“horizontal”) legs in productive zones, and utilizing new cased hole electric logging to locate bypassed pays, all to enhance daily rates and oil & gas recoveries.
By acquiring interests in a growing number of selected projects in various regions, Allied Energy Corp. is diversifying its exposure and effectively minimizing risk as it pursues corporate growth, top line & bottom line revenues to the benefit of all stakeholders.
There are proven, recoverable reserves contained in the many aging oil & gas fields that have been bypassed by companies moving away from these fields in search of deeper, more plentiful, but more costly reserves. The Company plans to concentrate on bypassed oil and gas as there is less competition and as mentioned above, the costs are considerably less.
Additionally, the company will acquire interests in marginal wells that can be acquired at minimal cost, of which there are 420,000 wells in the U.S. Quoting Barry Russell, President of the Independent Petroleum Association of America (“IPAA”) – “With approximately 20 percent of American oil production and 10 percent of American natural gas production coming from marginal wells, they are America’s true strategic petroleum reserve.”