United Stock Price, News & Analysis

United Energy (OTCMKTS:UNRG) has secured a $5 million convertible debt financing to advance its Cherokee Basin oil and gas projects. This financing, structured through a Senior Secured Convertible Note, allows for conversion into stock at $0.10/share. The financing will facilitate UNRG's growth initiatives, aiming for a filing to become a fully-reporting SEC company soon. The funding is arranged by Paulson Investment Company, targeting future acquisitions and roll-up opportunities in natural gas production.

United Energy (OTCMKTS: UNRG) has announced a secured financing plan through a securities purchase agreement and convertible debt financing of up to $5 million. This funding finalizes UNRG's Stage 1 financing for its Cherokee Basin oil and gas assets. The financing will be executed via a Senior Secured Convertible Note, convertible into common stock at $0.10 per share and bearing an interest rate of 15% per annum. Facilitated by Paulson Investment Company, LLC, this investment positions UNRG for growth and potential SEC reporting status on a major exchange.

United Energy Corporation (OTCMKTS:UNRG) has completed a 100% acquisition of Integrity Terminals, LLC, enhancing its previous 12% stake. CEO Brian Guinn highlighted plans for operational control aimed at increasing shareholder value.

The company has also secured an option to acquire 686 acres in Iberville Parish, Louisiana, which will support a greenfield bulk storage facility. The project is positioned for construction in Q3/Q4 2023 and aims for carbon neutrality through advanced technologies.

United Energy (OTCMKTS: UNRG) has completed the 100% acquisition of Integrity Terminals, LLC, increasing its previous minority ownership stake from 12%. This strategic move enables UNRG to take full operational control, aiming to enhance shareholder value and profitability. The company has also acquired an option for 686 acres in Iberville Parish, Louisiana, pending due diligence. Integrity Terminals is set to be a multi-functional facility for petroleum and biofuel products, promoting sustainability with carbon capture technologies. Construction for Phase 1 is projected to start by late 2023.

United Energy (OTCMKTS:UNRG) announced an agreement to acquire the remaining 51% of properties in Nowata, Washington, Rogers, and Tulsa Counties in Oklahoma, and Montgomery County in Kansas, collectively known as the Cherokee Basin. This acquisition enables United Energy to achieve 100% operational control, vital for its growth strategy. With confidence in reaching a production target of 2,500 MCFD by Q4, the company adds approximately 1,000 MCFD in immediate production and anticipates further opportunities for production restoration. The leadership team boasts over 150 years of industry experience.

United Energy (OTCMKTS:UNRG) has signed a purchase agreement for a 140-mile natural gas pipeline in Wagoner County, Oklahoma, previously owned by Red Fork Energy. The pipeline includes 140+ miles of transmission lines with a capacity of up to 20,000 MCFGD and encompasses over 5,000 acres of leasehold and 89 wells, providing significant Woodford Shale development opportunities. The company anticipates closing in October, pending due diligence. UNRG aims to reactivate the Wagoner Pipeline, forecasting an increase of 2,000+ MCFGD in production.

United Energy (OTCMKTS: UNRG) has signed a purchase agreement for a 140-mile natural gas pipeline located in Wagoner County, Oklahoma, previously owned by Red Fork Energy. The pipeline includes transmission lines with a capacity of up to 20,000 MCFGD and encompasses over 5,000 acres with 89 company-owned wells, offering significant development opportunities in the Woodford Shale. The acquisition is expected to close in October, pending due diligence. CEO Brian Guinn highlighted the potential for stranded gas to benefit from current commodity prices.

United Energy (OTCMKTS:UNRG) provided a shareholder update, outlining its new corporate direction for 2021 and beyond. The company has successfully transitioned its business model, divesting non-core assets while focusing on Exploration and Production, Technology, and Oil and Fuel Storage. Recently, UE acquired over 240,000 acres of oil and gas leases, including 2200+ wells and 1200 miles of pipelines, to invest in cleaner energy sources like Natural Gas. Additionally, UE has purchased a minority stake in a planned oil storage terminal in Louisiana, with a capacity of 6.8 million barrels.

United Energy (OTCMKTS:UNRG) has announced a strategic update focusing on its corporate direction for the remainder of 2021. The company is divesting non-core assets and has acquired significant oil and gas leases spanning over 240,000 acres across Oklahoma and Kansas, which includes 2200+ wells and extensive pipeline infrastructure. Additionally, UE has purchased a minority share in a future oil storage facility in Louisiana, aiming for an initial capacity of 6.8 million barrels. The firm is emphasizing natural gas investments and exploring opportunities in North Dakota and Montana.