LGX Energy Corp Achieves Remarkable Milestones in Inaugural Year of Operations, Spearheads Midwest Energy Transformation
LGX Energy Corp has recently announced the results from its inaugural year of operations. Since its incorporation in November 2021, LGX completed the acquisition of Adler Energy on January 31, 2022. The acquisition included the fully operational Thomas Field in Clay County, Indiana, where oil production from six wells averaged over 500 barrels per month throughout LGX’s first year.
In addition to the Thomas Field operations, the Adler Energy acquisition encompassed extensive 2D seismic coverage across four counties in southwestern Indiana. Utilizing advanced seismic processing and evaluation techniques, LGX’s team of experts, including geologists, geophysicists, and landmen, has identified promising prospects in the region. Howard Crosby, CEO of LGX stated, “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.”
By harnessing modern technology, LGX is paving the way to deliver consistent profits in the future, proving that American oil is not dying – it’s evolving. And by leveraging cutting-edge 3D seismic technology, the company’s experts strategically mitigate risks and maximize success in untapped areas of the Midwest. This not only revolutionizes oil exploration but also substantially reduces seismic acquisition costs.
As LGX continues to embrace technological advancements and expand its lease acquisitions, it demonstrates a commitment to secure, US-based oil production. By capitalizing on untapped opportunities, the company remains at the forefront of transforming the Midwest energy market.
LGX Energy is an early-stage oil and gas exploration and production company that focuses its drilling activity in the Midwest, bringing the latest seismic technology for the first time to Indiana.
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