Azure Holding Group Corp ($AZRH) Forms Joint Venture with Mountain V, Begins First Phase of Natural Gas and Oil Drilling Program

Rhea-AI Summary

Azure Holding Group Corp (AZRH) has formed a joint venture called Appalachian Mountain Energy with Mountain V Oil & Gas to drill new wells and rework existing wells across 300,000 surface and mineral acres in the Appalachian and Permian Basins. The partnership comes as natural gas prices show strength above $4.00 per MCFE and oil remains steady above $68.00 per barrel.

Mountain V Oil & Gas, a 30-year-old private Super Independent Operator, currently operates over 3,600 wells in active production. Under the joint venture, Mountain V will serve as the operator while American Industries (AZRH) will provide capital through a registered offering.

The first phase of the drilling program will target shallow vertical wells at depths of 4,000 to 4,500 feet in the Big Lime. The venture aims to exploit oil and wet gas resources, including propane and butane, with plans to establish their own Rack in Pennsylvania by 2027.

Positive

• Access to 300,000 acres of proven oil and gas production land
• Partnership with established operator running 3,600 active wells
• Favorable market conditions with natural gas above $4.00/MCFE and oil above $68/barrel
• Diversified asset base across Appalachian and Permian Basins

Negative

• Capital requirements through registered offering may lead to shareholder dilution
• Dependency on Mountain V as operator for execution
• Commodity price risk exposure

Appalachian Mountain Energy, the joint venture, will drill new wells and rework existing wells currently owned and operated by Mountain V Oil & Gas across all 300,000 surface and mineral acres across the Appalachian Basin and Permian Basin that are currently held by production by Mountain V Oil & Gas.

NEW YORK CITY, NY / ACCESS Newswire / March 31, 2025 / Azure Holding Group Corp. (OTC PINK:$AZRH, being renamed American Industries) and Mountain V Oil & Gas have officially formed a joint venture.

Appalachian Mountain Energy, the joint venture, will drill new wells and rework existing wells owned and operated by Mountain V Oil & Gas across all 300,000 surface and mineral acres across the Appalachian Basin and Permian Basin that are currently held by production by Mountain V Oil & Gas.

The timing of this joint venture couldn't be better, as natural gas prices have shown price strength and stability over the past 2 quarters, and for the foreseeable future at above $4.00 an MCFE, and as Oil remains steady above $68.00 per barrel of WTI Crude.

Mountain V Oil & Gas is a large private Super Independent Operator focused on the Appalachian Basin and Texas, with over 3,600 operated wells in active production across it's 300,000 mineral and surface acres. The company recently celebrated its 30 year anniversary.

Together, through the joint venture Appalachian Mountain Energy, both groups will pursue a natural gas drilling program, whereby Mountain V will serve as the operator, and American Industries will provide the capital through a registered offering.

"Getting to partner with a team like Mountain V Oil & Gas on their next drilling program and on their future acquisitions is a child hood dream come true. As an operator myself, I am excited to learn from Mike Shaver, and build generational wealth for all of our shareholders," said Josh Watson.

"When I was growing up in Pittsburgh, Pennsylvania my grandpa always told me that if I wanted to make money, I'd better get into Oil & Gas in West Virginia and Kentucky," said Josh Cohen.

The group is in the late stages now of finalizing the planning on the first tranche of its drilling program, which will target shallow Vertical wells at an average depth of 4,000 to 4,500 feet in the Big Lime.

"I like the acreage Mountain V has in South Eastern Kentucky and in the Permian Basin," said Cohen. "There's Oil and Wet Gas everywhere, all 300,000 acres is full of oil, propane and butane, and by 2027 we believe we will be in a position to establish our own Rack in Pennsylvania."

About Azure Holding Group
Azure Holding Group Corp. is an acquisition corporation focused on Oil Field Services and Construction, Oil & Gas Exploration & Production, and Oil & Gas Distribution. Azure Holding Group Corp. has completed Reverse Mergers with the following companies: American Industries, Freedom Well Testing, and Oil Field Services AI. The Company has completed a Joint Venture with Coil Tubing Technologies. The Company is currently evaluating mergers with several other companies.

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CONTACT:
josh@controlleddev.com
(917) 584-7042

SOURCE: Azure Holding Group Corp.

View the original press release on ACCESS Newswire

FAQ

What is the scope of AZRH's joint venture with Mountain V Oil & Gas?

The venture covers 300,000 acres across Appalachian and Permian Basins, involving drilling new wells and reworking existing ones from Mountain V's 3,600 active wells.

What are the current market conditions supporting AZRH's drilling program?

Natural gas prices are above $4.00 per MCFE and oil remains steady above $68.00 per barrel of WTI Crude.

What is the first phase of AZRH's drilling program targeting?

The program targets shallow vertical wells at 4,000-4,500 feet depth in the Big Lime formation.

What is AZRH's development timeline for the Pennsylvania Rack?

The company plans to establish its own Rack in Pennsylvania by 2027.

How will AZRH finance the joint venture operations?

AZRH will provide capital through a registered offering while Mountain V serves as the operator.