DENVER--(BUSINESS WIRE)--Allied Resource Partners is excited to announce the acquisition of an additional 5 square miles in Gove County, Kansas. This strategic acquisition strengthens the company's operational footprint in the region.
In July, Allied Resource Partners conducted a 3D seismic survey across the newly acquired acreage. The data from this survey is currently being processed by our team of geophysicists and the company is reviewing the preliminary findings with great anticipation. The results are expected to reveal valuable subsurface structures.
Rich Tabaka, President of Allied Resource Partners, commented, "Now that we have shot the seismic, we are eagerly awaiting the data. Based on our adjoining acreage, we believe a significant oil trap will be identified. All indications from the last 3D seismic shoot suggest that the structure continues into this new acreage. We moved quickly to secure these leases, especially after identifying an oil structure adjacent to it."
As part of its ongoing strategic review, Allied Resource Partners is planning to drill 8 wells in the area, starting at the end of this year and continuing into next year. "These 8 initial wells could be the start of developing a field that will produce multiple millions of barrels of oil," added Tabaka.
Allied Resource Partners works with investing partners to lease and develop oil reserves in Kansas. If you are an accredited investor and would like to learn more about our oil investments, please visit our website, www.alliedresourcepartners.com, and fill out a contact form to see the current projects available for investment. When we drill successful wells at Allied Resource Partners, investing partners receive the benefit of income based on the success of the wells and receive tax benefits that amount to around 85% of their investment.
Allied Resource Partners is committed to advancing its exploration efforts in Kansas and will continue to review and refine its approach as new data becomes available.
