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Pure Oil & Gas, a subsidiary of Southern ITS International (OTC PINK:SITS), reports significant operational progress and secured $6 million in new funding for drilling projects. The company, managing 14 operating wells, has shown substantial monthly production increases from 175 barrels in June to an estimated 1,980 barrels in September. The company plans to complete 5 additional wells by the end of 2024 to expand its operations and boost production capacity.
Pure Oil & Gas, una sussidiaria di Southern ITS International (OTC PINK:SITS), riporta progressi operativi significativi e ha ottenuto 6 milioni di dollari in nuovi finanziamenti per progetti di perforazione. L'azienda, che gestisce 14 pozzi operativi, ha registrato aumenti considerevoli nella produzione mensile, passando da 175 barili di giugno a circa 1.980 barili a settembre. L'azienda prevede di completare 5 pozzi aggiuntivi entro la fine del 2024 per espandere le proprie operazioni e aumentare la capacità produttiva.
Pure Oil & Gas, una subsidiaria de Southern ITS International (OTC PINK:SITS), informa sobre avances operativos significativos y ha asegurado 6 millones de dólares en nueva financiación para proyectos de perforación. La empresa, que gestiona 14 pozos operativos, ha mostrado aumentos sustanciales en la producción mensual, pasando de 175 barriles en junio a una estimación de 1,980 barriles en septiembre. La compañía planea completar 5 pozos adicionales para finales de 2024 para expandir sus operaciones y aumentar la capacidad de producción.
Pure Oil & Gas, Southern ITS International (OTC PINK:SITS)의 자회사, 상당한 운영 진전을 보고하며, 시추 프로젝트를 위한 600만 달러의 새로운 자금을 확보했습니다. 14개의 운영 유정을 관리하는 이 회사는 6월의 175배럴에서 9월에는 약 1,980배럴로 월간 생산량이 크게 증가했습니다. 회사는 운영을 확장하고 생산 능력을 높이기 위해 2024년 말까지 추가 5개의 유정을 완공할 계획입니다.
Pure Oil & Gas, une filiale de Southern ITS International (OTC PINK:SITS), annonce des progrès opérationnels significatifs et a sécurisé 6 millions de dollars de nouveaux financements pour des projets de forage. L'entreprise, qui gère 14 puits opérationnels, a montré d'importantes augmentations de production mensuelle, passant de 175 barils en juin à environ 1.980 barils en septembre. L'entreprise prévoit de compléter 5 puits supplémentaires d'ici la fin de 2024 pour étendre ses opérations et augmenter sa capacité de production.
Pure Oil & Gas, eine Tochtergesellschaft von Southern ITS International (OTC PINK:SITS), berichtet von bedeutenden betrieblichen Fortschritten und hat 6 Millionen Dollar an neuer Finanzierung für Bohrprojekte gesichert. Das Unternehmen, das 14 aktive Förderstellen verwaltet, hat monatliche Produktionssteigerungen von 175 Barrel im Juni auf schätzungsweise 1.980 Barrel im September gezeigt. Das Unternehmen plant, bis Ende 2024 5 zusätzliche Förderstellen fertigzustellen, um seine Tätigkeiten zu erweitern und die Produktionskapazität zu erhöhen.
- Secured $6 million in new funding
- Production increased significantly from 175 to 1,980 barrels monthly (June to September)
- Expansion plans include 5 new wells by end of 2024
- Currently operating 14 wells
- None.
Insights
The
The sequential monthly production increases demonstrate strong operational execution and suggest improving cost efficiencies. However, investors should note that future performance will be heavily dependent on oil price movements and successful completion of the planned wells. The current production rate, annualized at approximately 23,760 barrels, could generate meaningful revenue at current oil prices.
The rapid production ramp-up from 175 to 1,980 barrels monthly indicates successful well optimization and efficient drilling programs. The 14 operating wells show strong performance metrics and the planned expansion to 19 wells represents a
The month-over-month production increases suggest the company has overcome initial operational challenges and established effective drilling and extraction processes. The projected September output of 1,980 barrels indicates they're achieving better well productivity rates, though maintaining this growth trajectory will require continued operational excellence and favorable geological conditions.
SCOTTSDALE, AZ / ACCESSWIRE / October 8, 2024 / Pure Oil & Gas Inc., a subsidiary of Southern ITS International, Inc. (OTC PINK:SITS), announces a series of achievements in its operational capabilities and production output. With 14 operating wells currently under management, the company has secured a substantial
Increased Production and Projected Growth
As of the latest reports, Pure Oil & Gas has demonstrated an upward trajectory in its production volumes over the past few months:
June: 175 barrels
July: 514 barrels
August: 675 barrels
September (estimated): 1,980 barrels
This marked increase reflects the company's enhanced operational efficiencies and strategic well placements.
Expansion of Drilling Operations
Pure Oil & Gas is set to expand its portfolio with the completion of 5 additional wells by the end of 2024. This expansion is expected to boost production capacities and reinforce the company's position in the market.
Executive Insight
Jeremy Larsen, President of Pure Oil & Gas Inc., expressed enthusiasm about the company's trajectory: "We are thrilled with the progress and results we've achieved this year. The successful deployment of capital towards strategic drilling operations has not only enhanced our production but also solidified the foundation for sustained growth. With the support of our dedicated team and the confidence of our investors, we are positioned to reach new heights in the coming months."
About Pure Oil & Gas Inc.
Pure Oil & Gas Inc. is a leader in the oil and gas industry, focusing on the acquisition, development, and optimization of oil and natural gas resources. The company aims to leverage technological advancements and strategic initiatives to maximize the production and efficiency of its operations across the United States. More information can be found on the following channels:
Pureoilgas.com
YouTube: @PUREOilGas
TikTok: @pureoilgas
About Southern ITS International, Inc.:
Southern ITS International, Inc. operates through its subsidiary companies across diverse sectors, each with a strategic focus, including oil and gas exploration, clothing, consumer beverages, and e-commerce fulfillment. Our goal is to expand and strengthen our portfolio of successful businesses.
As a holding company, Southern ITS International actively seeks opportunities to acquire stakes in both public and private companies that complement our current operations. Our mission revolves around establishing a robust Direct-to-Consumer (DTC) and Business-To-Business (B2B) network, leveraging the vast potential of e-commerce across various industries, such as manufacturing, distribution, and product sales.
To achieve our objectives, we have assembled a seasoned management team dedicated to building a diversified portfolio. This entails acquiring entire companies or interests in sectors spanning technology, oil and gas, manufacturing, real estate, and more, ultimately integrating them as operating subsidiaries under the Southern ITS International umbrella.
For investor inquiries, please contact:
Southern ITS International, Inc.
Gil Irey, CEO: 319-230-2399
Jeremy Larsen, COO: 319-239-6440
Email: info@sitsintl.com
Forward-Looking Statements
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in the Company's disclosures or filings with the SEC. You are further cautioned that penny stocks and stocks of smaller companies like Southern ITS International, Inc. are inherently volatile and risky, and that no investor should buy this stock unless they can afford the loss of their entire investment.
SOURCE: Southern ITS International, Inc.
View the original press release on accesswire.com
FAQ
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