HUGE AZRH NEWS 3/21/25 Azure Holding Group Corp. (OTC PINK:AZRH, being renamed American Industries) and Mountain V Oil & Gas have officially formed a joint venture together. Through the joint venture, both parties plan to explore and drill across all 300,000 surface and mineral acres that are owned outright by Mountain V Oil & Gas.
The timing of this joint venture couldn’t be better, as natural gas prices have shown price strength and stability over the past 2 quarters, and for the foreseeable future at above $4.10 an MCFE.
Mountain V Oil & Gas is a large private Super Independent Operator focused on the Appalachian Basin and Texas, with over 3,600 operated wells in active production. The company will remain private for the foreseeable future, and recently rejected a $250.0 Million full buyout of its entire operation in 2024. The company recently celebrated its 30 year anniversary, and was founded by Mike Shaver and his father.
Together, through the joint venture Appalachian Mountain Energy, both groups will pursue a natural gas drilling program, whereby Mountain V will serve as the operator, and American Industries will provide the capital through registered offering.
“Getting to partner with a guy like Mike Shaver on his next drilling program and on his future acquisitions is a child hood dream come true. As an operator myself, I am excited to learn from Mike Shaver, and build generational wealth for my family and all of our shareholders,” said Josh Watson.
“When I was growing up in Pittsburgh, Pennsylvania my grandpa always told me that if I wanted to make money, I’d better get into Oil & Gas in West Virginia and Kentucky,” said Josh Cohen.
The group is in the late stages now of finalizing the planning on the first tranche of its drilling program, which will target shallow Vertical wells at an average depth of 4,000 to 4,500 feet in the Big Lime.
“I like that Harlan County Lease Mike’s got down in Kentucky,” said Cohen. “There’s wet gas everywhere, all 300,000 acres is full of propane and butane, and by 2027 we believe we will be in a position to establish our own Rack in Pennsylvania to sell propane and other refined products directly to the distributors. This is all in addition to our plans to undercut the market and buy out a lot of the small and midsized distributors.”
More details will be disclosed over the coming weeks regarding the economics and financials projections.
The group intends to raise an initial $10.0M in equity for its first tranche of wells, followed by a subsequent $100.0M in incremental equity rounds.
About Azure Holding Group
Azure Holding Group Corp. is an acquisition corporation focused on Oil Field Services and Construction, Oil & Gas Exploration & Production, and Oil & Gas Distribution. Azure Holding Group Corp. has completed Reverse Mergers with the following companies: American Industries, Freedom Well Testing, and CST Drilling Fluids. The Company has completed a Joint Venture with Coil Tubing Technologies. The Company is currently evaluating mergers with Button Energy, Bullzeye Wireline, Oil Field Services AI, and several other companies. The Company is currently evaluating a joint venture Drilling Program with Mountain V Oil & Gas.
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