Alpha Compute acquires Pennsylvania oil and gas business for $5.5 million

• Alpha Compute (NASDAQ:ALP) signed agreements to acquire an operating oil and gas business in Pennsylvania for $5.5 million.
• The acquisition includes more than 300 acres of mineral and surface rights, over 75 existing wells and related energy infrastructure.
• Alpha Compute plans to develop a data center on the acquired site while maintaining energy operations.

Alpha Compute (NASDAQ:ALP) announced that it has entered into binding real estate and asset purchase agreements to acquire an operating oil and gas business in Pennsylvania for approximately $5.5 million.

The transaction includes more than 300 acres of surface, mineral and gas rights across the Utica and Marcellus shale formations, along with more than 75 existing wells, pump jack inventories, maintenance facilities, heavy equipment and gathering infrastructure.

The acquired assets currently support oil and gas production operations, with Alpha Compute stating that the business generates revenue and operating profit.

Historical third-party assessments have estimated average resources of approximately 10,000 barrels per acre of light Pennsylvania sweet crude oil, while the company said updated geological and appraisal studies are ongoing.

Alpha Compute noted that approximately 4% of surface oil has been extracted to date and said existing operations provide financial support while future development plans progress.

The company also plans to develop a data center on the acquired property, with the facility designed around local community considerations, environmental compliance requirements and grid-integration standards.

The acquisition represents Alpha Compute’s strategy of combining energy assets with digital infrastructure development, using existing power-related resources to support future computing capacity.

The transaction remains subject to completion of customary closing conditions.