Welcome to our dedicated page for Axp Energy Lld news (Ticker: AUNXF), a resource for investors and traders seeking the latest updates and insights on Axp Energy Lld stock.
AXP Energy Limited (OTC PINK: AUNXF) generates a steady flow of news as it develops its oil and gas assets and expands gas-to-power operations at its 100%-owned Pathfinder Field in Colorado. Company announcements highlight how AXP is combining crude petroleum and natural gas extraction with off-grid power generation for data centres and bitcoin mining partners.
News updates frequently cover progress at the Pathfinder Field, including oil production from wells such as Pathfinder #2 and development activities at Pathfinder #1 and the Amerigo Vespucci well. Releases also describe how natural gas from these wells is being directed to gas-fired generators that power modular data centres and support bitcoin mining operations under a Joint Development Agreement with Blackhart Technologies.
Investors following AUNXF news can read about milestones such as the delivery and connection of modular data centres, installation of Antminers, performance of gas-to-power trials, and expansion plans for additional sites at production hubs like JW Powell and Kelce Court. Announcements also report on partnerships, including support from NASDAQ-listed BitFuFu, Inc. for scaling bitcoin mining capacity at Pathfinder, as well as corporate developments such as leadership changes and shareholder meetings.
This news feed provides context on how AXP Energy is executing its strategy to repurpose stranded gas into power for High Performance Computing (HPC), AI-related workloads and bitcoin mining, while growing oil production from its Colorado leases. Readers can use this page to monitor operational updates, project expansions and partnership developments that shape the company’s evolving business model.
AXP Energy Limited has reported a 14% increase in its 2P Reserves over the past nine months, now totaling 29.7 billion cubic feet of natural gas, 1.14 million barrels of oil, and 1.18 million barrels of NGLs. This growth is attributed to the company's enhancements in its Field Development Plan and recent workover projects. The 1P Proved Reserves also increased by 2%, showcasing production certainty. However, the 2C Contingent Resources remain unchanged at 211.95 million barrels of oil equivalent.
AXP Energy Limited (AUNXF) reported significant growth in its quarterly activities for the period ending June 30, 2022. The company achieved a net revenue of $7.51 million, a 51.4% increase from the previous quarter, and positive operating cash flow of $1.61 million, compared to $186K in the prior quarter. With a cash reserve of $3.39 million and minimal debt, AXP aims to enhance production through recompletions and workovers. However, natural gas production continues to decline due to midstream reliability issues, despite a notable 19.4% increase in oil production.
AXP Energy Limited (AUNXF, AUNXF.OB) announced its reserves and contingent resources assessment as of October 1, 2021. The company reported 2P reserves of 6.37 million barrels of oil equivalent (MMboe), significantly up from 0.124 MMboe. Additionally, 2C contingent resources rose to 211.95 MMboe from 192.93 MMboe. The increase in reserves is attributed to recent acquisitions in the Appalachian and Illinois Basins. AXP's growth strategy includes enhancing production through planned drilling and development activities.
AXP Energy Limited (ASX: AXP, OTC: AUNXF) has reached an agreement to acquire Newtak Pty Ltd's 50% stake in Kentucky Exploration, LLC for US$50,000, thereby gaining full ownership and operational control of the leases. This acquisition, set to finalize by the end of November 2021, includes a portfolio of 44 oil wells in the Illinois Basin. AXP plans to enhance production via workover programs and a new drilling division targeting low-cost vertical wells. The company aims to significantly bolster its oil production base through this strategic move.
AXP Energy Limited (OTC: AUNXF) has applied to upgrade its trading status to the OTCQB® Venture Market, sponsored by MCAP LLC. This move aligns with the company's strategy to attract US investors following its acquisition of Magnum Hunter Production LLC, resulting in increased trading volumes. AXP is also pursuing electronic clearing and settlement through the DTCC to streamline trading for US investors. CEO Tim Hart expressed optimism about this upgrade, emphasizing improved trading experiences and transparency for shareholders.
AXP Energy Limited (ASX: AXP, OTC US: AUNXF) has announced the formation of an in-house drilling division to initiate an 8-well vertical drilling program across the Illinois and Appalachian Basins. This internally funded initiative, staffed by existing team members, aims to enhance oil production significantly. Drilling is set to begin in the coming weeks, leveraging cost advantages over external contractors. The program targets infill drilling at depths of 2,150 to 3,600 feet and will run alongside current workover operations.
AXP Energy Limited partners with Elite Mining Inc. (AUNXF) to establish in-situ power generation for the cryptocurrency sector in the U.S. AXP will provide stranded gas from its Pathfinder Field in Colorado, enhancing EMI's ability to scale operations rapidly. This collaboration aims to meet the increasing demand for energy-efficient cryptocurrency mining. AXP's Chairman highlighted the opportunity to capitalize on this growing sector, while EMI's CEO emphasized a commitment to reducing environmental impact through innovative technology. Both companies are positioning to lead in mobile power generation for miners.