Business news

    AXP Energy (ASX:AXP) to offload non-Colorado assets for US$4M

    Article Image

    AXP Energy received overwhelming shareholder approval for the sale of its non-Colorado oil and gas assets to Mountain V Oil & Gas, valued at US$4 million ($6.2 million) in cash.

    The sale includes projects in Tennessee, Eastern Kentucky, Virginia, and the Illinois Basin.

    The move aims to refocus efforts on enhancing the performance of the Pathfinder Field in Colorado, with the transaction expected to close on or before Feb. 8.

    AXP Energy is committed to increasing oil production and securing profitable gas sales within the Pathfinder Field.

    Disclaimer

    Grafa is not a financial advisor. You should seek independent, legal, financial, taxation or other advice that relates to your unique circumstances. Grafa is not liable for any loss caused, whether due to negligence or otherwise arising from the use of, or reliance on the information provided directly or indirectly by use of this platform.

    Publisher
    Grafa