AXP Energy is taking field development activities on MHP leases on priority to boost natural gas production.
The Company is currently engaged in laying ~7km of 2-inch pipeline to bring 31 wells into the production stream.
Once the pipeline project is completed, the production is anticipated to increase by ~400Mcf leading to additional revenue of ~US$40,000 per month.
The management of FPL has already renegotiated the gas supply contract to realise a gas price of US$3.55/MMBtu from US$2.76/MMBtu.
MHP leases have nearly 1,300 conventional natural gas wells, and almost 90% of them have the potential to become producers.
The shares of AXP jumped 50% today on the backdrop of a field development update.
Suck eggs sectr, your ongoing negativity served to take you back to zero $0.00 You have just yourself to blame now; perhaps try another enviro., bc, as you well know, this one is not a sustainable fit.
DYOR fellow holders.
Exciting huh
AXP Price at posting:
0.7¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)