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Allied Energy Corporation Outlines Current Activities at the Prometheus Lease
Allied Energy Corporation Outlines Current Activities at the Prometheus Lease.
About this update from Allied Energy Corporation
[{"type":"text","content":"\n Carrollton, Texas, Nov. 16, 2021 (GLOBE NEWSWIRE) -- Allied Energy Corp (OTC Pink: AGYP), an energy company focused on leasing and reworking oil and gas reserves in the most prolific hydrocarbon areas of the United States, is pleased to provide progress updates regarding the Company's newly acquired 325-acre Prometheus Lease location. Beginning last week at the Prometheus site, Allied began executing the plan to bring the Prometheus Well 1H back online. When Prometheus Well 1H was originally tested and submitted to the Texas railroad commission by Apache Corporation in 2014 their report showed 335 barrels of production per day along with 298,000 cubic feet of natural gas per day with 2557 barrels of flow back and formation water. (For more details about the Prometheus lease please see https://finance.yahoo.com/news/allied-energy-acquires-prometheus-lease-130000471.html) Allied's Oil Operations Manager, Curtis Boyles, designed a three-phase plan to bring the Prometheus H1 back online. Phase one, pipe racks and forklift arrived on location and unloaded 7000 feet of tubing that ran into the Well. The Company secured a third-party contractor to rig up and set a blow-out preventor on the wellhead. Another contractor, Borets International, have delivered a heavy downhole pump, downhole sand separator, steel insulated cable, variable frequency drive, transformer, cable and spooler. Borets International have attached the 5-stage pump, motor and started in the hole with all necessary assembly. Cable have been strapped to the tubing as the pump and tubing were lowered to the target depth of 6500 feet. Phase two at the Prometheus, the crews will finish running the pump into Well 1H while setting the variable frequency drive, transformer and connecting everything to the electrical service. Personnel will program the motor and pump and run critical system tests through a slow ramp up of pump horsepower when ready. Phase three at the Prometheus, the electricians will change electrical services to 200 AMP to run the high-capacity pump and when completed, start to ramp up the horsepower of the pump until all desired parameters are met and full production settings are established. Allied has completed all of the work that we have outlined above and awaiting on the electric utility to change out the transformers to the Well and the SWD Well, i...