Alpha Compute Signs Binding Contract to Acquire Assets of Operating Oil and Gas Business in Pennsylvania
Alpha Compute Corp. (Nasdaq: ALP) executed binding real estate and asset purchase agreements to acquire more than 300 acres of surface, mineral and gas rights across the Utica and Marcellus shale formations in Pennsylvania, including over 75 existing oil and gas wells, for a stated $5.5 million. The release cites a historical 'Haliburton' assessment estimating 10,000 barrels per acre of light Pennsylvania sweet crude and claims the existing oil and gas operations already generate revenue and operating profit, with only about 4% of surface oil extracted to date.
Key figures
- Deal Value Usd
- 5500000
- Acreage
- over 300 acres of surface, mineral and gas rights
- Existing oil gas wells
- over 75
- Estimated barrels per acre
- 10000
- Surface oil extracted to date
- 4%
- Planned initial data center capacity mw
- 200
AI analysis
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