Nexera Energy Inc Stock Price, News & Analysis

Nexera Energy Inc. (OTC PINK: EMBYF) announced plans to drill a second deep horizontal well at its Stockdale Horizon project in South Texas, in partnership with Alliance Petroleum Interests. Preparations are complete, and drilling is expected to commence around November 12, 2021, targeting a depth of approximately 6,400 feet. Results from the first well have been promising, and this initiative reinforces Nexera's strategy to explore high-impact horizontal drilling in the region.

Nexera Energy Inc. (OTC PINK: EMBYF) reported positive production results from its Huebinger E1 well, averaging 26 barrels of oil per day over its first six weeks. Initial projections estimate first-year production at 8,700 barrels, with payback expected in approximately seven months. The Huebinger E2 well is also set to begin production soon. Additionally, the McGrew 1H well at Stockdale Horizon is now operational. The company has identified five new drilling locations based on recent successes.

Nexera Energy Inc. has provided an operational update amidst ongoing challenges from labor shortages in the oil and gas sector due to the Covid-19 pandemic. Despite these issues, Nexera has successfully brought the Huebinger E1 well online and is set to begin production at the McGrew 1H well soon. The company is also expanding its land position for future drilling at the Stockdale Horizon project. Additionally, Nexera has launched a new website to enhance its online presence.

Nexera Energy has announced the acquisition of a 25% interest in Production Resources Inc. from Hillcrest Investments Ltd. for USD$400,000. Following this deal, Nexera will own 100% of PRI, which operates wells producing 40-50 barrels of oil per day in Texas. The payment includes USD$100,000 in installments and 3,789,300 common shares at $0.10 each. This move increases Hillcrest's stake in Nexera from 2.6% to 9.08%, with insider control reaching 13.3% post-transaction, subject to final approval.

Nexera Energy Inc. (OTC PINK:EMBYF) announced the completion of installations for the Huebinger E1 well, expecting it to be operational within 24 hours. Encouraged by preliminary test results, the company is set to drill the new Huebinger E2 well in collaboration with Alliance Petroleum Interests. This partnership aims to increase the number of impactful wells drilled in 2021. The company also reported that it navigated through a winter storm affecting South Texas without major operational disruptions, ensuring a return to full production.

Nexera Energy Inc. (OTC PINK:EMBYF) has successfully closed its private placement, issuing 13,333,330 units at $0.06 each, totaling $800,000. Each unit comprises one common share and one warrant, which allows the purchase of an additional share at $0.10 within 12 months. Proceeds will support operational activities, including mineral lease acquisitions and equipment purchases. All securities are subject to a 4-month hold period and await final approval from the TSX Venture Exchange.

Nexera Energy Inc. (OTC PINK: EMBYF) has acquired 100% of Cotulla Vacuum Services for CAD $775,000 (USD $615,000) to bolster its oilfield services and new well plugging business. This acquisition includes a profit-sharing agreement, allowing Nexera to retain 50% of profits above operational costs. The newly acquired equipment is already in use on two properties, enhancing efficiency by reducing reliance on outside contractors. The move is aimed at expanding Nexera's capabilities in providing services for inactive oil and gas wells in South Texas.

Nexera Energy Inc. (OTC PINK:EMBYF) announced plans to create a wholly owned subsidiary, Nexera Energy Services, Inc., to plug inactive oil wells in Texas. The company has the necessary equipment and expertise to address orphaned wells and aims to start by plugging three inactive wells on its leases. Plugging costs range from $8,000 to $140,000 per well, and Nexera expects to generate significant profit margins. CEO Shelby Beattie emphasized the company's commitment to land reclamation, which will create new revenue streams while supporting local communities.

Nexera Energy (OTC PINK: EMBYF) announced it will perforate and test the Poth sand formation at the Lerma #2 well, part of its Stockdale Horizon project in South Texas. This well is in close proximity to the recently drilled Stockdale Horizon 1H well, which showed promising hydrocarbons while drilling. The company aims to confirm the productivity of the Poth formation, potentially establishing a new play at Stockdale. Nexera operates 540 oil wells and is focused on resource expansion in the region.