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American Noble Gas (OTC-QB: IFNY) reports significant progress in its operations, achieving commercial production of helium and natural gas from its Peyton 21-1 well in the Hugoton Gas Field since August 17, 2022. The well is generating over 100 mcf/day of natural gas, with 500 cf/day being helium. The company also benefits from its 60.7143% interest in GMDOC, LLC, producing approximately 100 barrels of oil and 1.5 million cf of gas daily. This investment has led to notable operating income and EBITDA, highlighting strong market conditions.
American Noble Gas, Inc. (IFNY) has confirmed its status as a helium producer through operations in the Hugoton Gas Field, generating positive cash flow. The company reported that its first production well, the Peyton 21-1, is yielding over 100 mcfd of natural gas and helium. Discussions with potential buyers include favorable pricing and financing arrangements for additional drilling. Helium's global demand is high, with retail values rising due to limited supply. AMGAS aims to expand to 50 wells, potentially reaching 5 million cubic feet of gas per day and 20 mcfd of helium.
American Noble Gas has reported promising initial results from its exploratory well in the Hugoton Gas Field, Kansas. The well, which began producing helium and natural gas on August 11, 2022, is achieving flow rates of 150 - 185 Mcfpd and a shut-in pressure of 85 PSIA. This performance significantly exceeds regional norms, indicating potential undiscovered reserves. AMGAS holds a 40% stake in the project, which includes plans for up to 50 wells. With helium in high demand, these developments could enhance shareholder value as the company continues to explore resources.
American Noble Gas (OTC-QB: IFNY) announced successful perforation of an initial well in the Hugoton Gas Field, Kansas, indicating significant potential reserves of natural gas and helium. The well, drilled as part of the Hugoton Farm-out Venture, is 40% owned by AMGAS and was spud on May 7, 2022. Completion is expected to begin around June 20, 2022, with results on flow rates and gas composition anticipated in early July. The venture aims to revitalize the Hugoton Field, which may still have substantial resources despite previous perceptions of depletion.
American Noble Gas Inc. (IFNY) announces the acquisition of a 60.71% interest in GMDOC, LLC, covering approximately 10,000 acres in Southern Kansas. The GMDOC leases produce about 100 barrels of oil and 1.5 million cubic feet of natural gas daily. The total purchase price for the interests is $4,037,500, financed through a combination of cash and a bank loan. This acquisition positions AMGAS for immediate revenue and future growth.
American Noble Gas, Inc. (OTC-QB: IFNY) has announced promising results from its exploratory drilling in the Hugoton Gas Field, Kansas. The initial well, in which AMGAS holds a 40% stake, has identified two zones with significant potential for natural gas and helium reserves. The company plans to complete the well in two phases, starting in May 2022. The venture aims to revitalize this historically significant gas field, known for its helium reserves, which are crucial given the global shortage. The company will update shareholders on production rates and gas percentages as progress continues.
American Noble Gas, Inc. (OTC-QB: IFNY) has commenced its Hugoton Farm-out Venture, a multi-year drilling and exploration program targeting up to fifty wells in the Hugoton Gas Field, Kansas. The initial well is set to evaluate natural gas and helium reserves, with testing anticipated to begin on May 3, 2022. AMGAS holds a 40% participation in this venture alongside three partners. The Hugoton Field is recognized for having the largest helium reserves in the U.S., despite being deemed depleted. The company aims to utilize unconventional methodologies for exploration.
American Noble Gas Inc (OTC-QB: IFNY) has entered a Farmout Agreement to acquire a 40% stake in drilling operations targeting up to 50 wells in the Hugoton Gas Field, Kansas. The first well is set to be drilled in April 2022. The agreement enables access to helium and brine mineral extraction, leveraging existing infrastructure for production. The Hugoton JV is exploring unconventional areas, potentially unlocking previously underestimated reserves. The field has historically produced significant natural gas and helium, presenting an opportunity for commercial extraction amid global helium shortages.
AMGAS has formed a new advisory board with four experts to assist in exploring helium and other noble gas reserves on its recently acquired 11,000-acre property in Central Kansas. The company has also signed a service agreement with US Noble Gas, LLC for exploration and marketing services. This partnership includes receiving a gas extraction unit and developing noble gas reserves, with an expected operational fee starting at $8,000 per month upon commercial production. The advisory board aims to leverage their expertise to evaluate potential gas reserves as AMGAS diversifies from traditional oil production.
American Noble Gas (OTC-QB: IFNY) has announced an option to purchase over 52,000 acres of oil and gas leasehold in the Central Kansas Uplift for $12 million. The properties currently produce 280 barrels of oil and 1.8 million cubic feet of natural gas daily, with helium content of up to 6%. Additionally, AMGAS has an option to acquire a related oilfield service company for $4 million. This transaction aligns with AMGAS's strategy to become a leading producer of noble gases, particularly helium amid global shortages.
