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America Resources Exploration Acquires Interest in 56 Oil and Gas Wells in Oklahoma
America Resources Exploration Acquires Interest in 56 Oil and Gas Wells in Oklahoma.
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[{"type":"text","content":"\nAmerica Resources Exploration Acquires Interest in 56 Oil and Gas Wells in Oklahoma\n\nAmerica Resources Exploration Acquires Interest in 56 Oil and Gas Wells in Oklahoma\n\nHOUSTON, TX--(Marketwired - August 04, 2015) - America Resources Exploration, Inc. (AREN) (\"America Resources\" or \"the Company\"), today announced that it has acquired a fractional interest in 56 oil and gas wells located in Ellis and Harper Counties, Oklahoma. The wells were producing a combined daily average of 1,789 MCF of gas and 61 barrels of oil for the 6-month period preceding April 1st. Many of the 56 wells are shut-in providing opportunities for the operators to bring production back online and increase existing production through rework and stimulation procedures. The well operators of the acquired interests include Apache Corporation, and Chesapeake Operating. Investors may refer to the company's 8-k filing with the SEC for additional details regarding the acquisition.\"We are excited to close on this acquisition and take full advantage of the lower commodity price environment,\" commented Mr. Huang Yu, CEO of America Resources. \"We are optimistic that oil and gas prices will rebound from current lows and provide many low-cost opportunities to increase production in these wells. Our efforts continue to allow for growth of cash flows and increased value for our shareholders.\"About Apache CorporationApache Corporation is a publicly traded American independent oil and gas corporation headquartered in Houston, Texas. Apache has become a large multinational company, with regional offices and operations throughout the world. The company's proved reserves at year-end 2010 totaled 2.95 billion barrels of oil equivalent, roughly half oil and half natural gas.About Chesapeake EnergyChesapeake Energy is a public, American oil and natural gas company headquartered in Oklahoma City, United States. Chesapeake Energy is the second-largest natural gas producer in the United States. Its operations are focused on discovering and developing unconventional natural gas and oil fields onshore in the U.S. Chesapeake owns leading positions in the Eagle Ford, Utica, Granite Wash, Cleveland, Tonkawa, Mississippi Lime and Niobrara unconventional liquids plays and in the Marcellus, Haynesville/Bossier and Barnett unconventional natural gas shale plays.About American R...