Allied Energy Corp (AGYP)

[Stockstax]

In general, the oil industry had a good year with oil hitting record highs, causing oil stocks to report five of the top twenty gains for the S&P 500’s stocks in 2021. In 2022, most analysts expect oil prices to remain strong as Daniel Yergin – the Energy Expert at the leading information services company IHS Markit –stated that “The U.S. is back”. He went on to explain that in 2021 and most of 2020 “it’s been OPEC+ running the show, but U.S. production is coming back already, and it’s going to come back more in 2022.”

Earlier this week AGYP announced that Prometheus is in FULL PRODUCTION. The 325 acre Prometheus Lease site located in Garza County, Texas caught AGYP’s interest mainly because of the 28 Unit Well 1H. This well was producing around 200 bpd of oil and 300 thousand cubic feet of natural gas per day during production. But the company’s CEO – George Montieth – has hinted that the combination of technology and skill which AGYP brings to the table could help it not only match but potentially surpass those numbers. Looking forward to more production numbers here! $AGYP