Memorandum of Understanding (“MOU") with Kerogen Resources LLC to form Kerogen Resources II LLC for the purpose of developing unconventional onshore U.S. shale assets. JP3E will have majority ownership and provide funding for Kerogen Resources II. Kerogen Resources will operate and have a minority stake in Kerogen Resources II. This strategic partnership marks a significant expansion of JP3E Holdings' footprint in the energy sector. Kerogen Resources, a private exploration and production company, brings to the partnership extensive experience and knowledge for development of conventional and unconventional oil and natural gas assets.
Through exclusive partnerships with industry leaders such as A.W. Chesterton, 3X Engineering, and Korea Gas Technology Corporation (KOGAS-Tech), PEC is well positioned to drive JP3E's annual revenues well beyond $100 million within the energy sector realm.
John K. Park, Chairman and CEO of JP 3E Holdings, highlighted the strategic importance of this acquisition: "This is not just an acquisition; it's a significant step towards realizing our ambitious goals in the global LNG market. PEC's integration under the JP3E umbrella brings unparalleled expertise and innovative technology that will catalyze our growth and extend our market reach."
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