LGX Energy Corp (“LGX”) has recently announced the results from its first full year of operations for the period ending on January 31, 2023. While the company was incorporated in November of 2021, the closing date of the acquisition of its subsidiary, Adler Energy, was on January 31, 2022.
The Adler Energy acquisition included the fully operating Thomas Field in Clay County, Indiana, which has continued to produce oil from six operating wells at over 500 barrels per month on average through LGX’s first year of operation. However, in addition to the producing Thomas Field, the Adler Energy acquisition included several hundred miles of 2D seismic across four counties in southwestern Indiana.
As a result of processing and evaluating this seismic, LGX and its team of geologists, geophysicists, and landmen have been acquiring additional leases over newly identified prospects in the region. Howard Crosby, CEO of LGX commented, “We are very pleased with the efforts of our team over our first full year of operations, and have been able to identify and lease numerous high quality prospects for shallow, vertical oil well development in southwestern Indiana.”
Leveraging modern technology to deliver decades of consistent profit in the future, LGX proves that American oil is not dying – it’s evolving. And by using the latest 3D seismic technology, their team of experts can strategically lower risk and increase success in areas of untapped opportunity in the Midwest as reliance on natural energy continues. Not only are these technological advancements changing the way oil can be found today, but these are also significantly lowering seismic acquisition costs.
The company will continue to provide further updates in its mission to provide secure, US-based oil production in the near future.
To know more about LGX Energy Corp and their upcoming projects and updates, visit their website at https://LGXenergycorp.com.
About LGX Energy Corp
LGX Energy Corp is an oil and gas exploration company that uses the latest seismic technology to strategically lower risk and increase success in areas of untapped opportunity. The company was founded in 2021 and is headquartered in Walla Walla, Washington, United States.
Media ContactCompany Name: LGX Energy CorpContact Person: Howard CrosbyEmail: Send EmailCountry: United StatesWebsite: https://lgxenergycorp.com/
