ALPHA ENERGY, INC. ENTERS INTO DEFINITIVE AGREEMENT TO ACQUIRE 7 PRODUCING AND 21 ADDITIONAL OIL AND GAS WELL BORES IN SEMINOLE COUNTY, OKLAHOMA
On May 26, 2022, Alpha entered into a definitive Purchase and Sale Agreement (PSA) with various Sellers to acquire certain oil and gas assets in the Mercury Project.
- On May 26, 2022, Alpha entered into a definitive Purchase and Sale Agreement (PSA) with various Sellers to acquire certain oil and gas assets in the Mercury Project.
- The PSA has an Effective Date of May 1, 2022, with Closing to occur on or before August 1, 2022.
- Additionally, the 80 acres of surface land will allow Alpha to establish a yard for its operations in Oklahoma.
- Initial production rates are subject to decline over time and should not be regarded as reflective of sustained production levels.