Americas Energy Company, a consolidator of high-quality energy properties with projects in both Kentucky and Tennessee, recently announced that the company, along with Trend Technology Corporation, sold the initial production from its first oil well. This oil well is on a timed pumping program in order to extend its production life and is currently producing 15 barrels to 20 barrels of oil per day.
Chris Headrick, president and co-chief executive officer of Americas Energy Company, stated, “The sale of the production from our first oil well to Somerset Energy Refining in Somerset, Kentucky has set the stage for our oil division. We have entrusted the development of that division to Mr. Jimmy A. Dunn Jr., as our vice president of oil and gas.”
Mr. Headrick continued, “Based on the success of the first well, Mr. Dunn and Americas Energy Company have established an aggressive development plan to initiate production on our oil and natural gas leases. We plan to rapidly exploit our development rights to the 1,700+ acres surrounding this well, and develop as many as 95 additional oil wells over the next 24 to 36 months.”
In the process of being acquired by Trend Technology Corporation, Americas Energy Company is located in Cumberland County, Kentucky on more than 1,700 acres and is currently evaluating several coal projects, as well as an oil and gas rework project in Southeastern Kentucky.