AER Energy has signed an operator contract with Multiplex Resources, Inc. of Houston, Texas to initiate and complete a multi-well drilling program of targets across Texas and Kansas.
The drilling program is for the development of oil reserves, which are in a shallow horizon of a known reserve pool of hydrocarbons.
AER Energy expects to develop and bring to completion 100 wells in its 1st full year of operation; the minimum net revenue from the wells would be $2,400,000 per year. Multiplex management has owned, operated and managed over 1,000 wells in the 3 State region of TX, KS and LA.
AER Energy Resources, Inc. is pleased to now be under contact with Multiplex Resources Inc. after an extensive screening and selection process that reviewed some of the top operators in the industry. "It is the company's belief that Multiplex's efficiency and vast experience will bring the highest degree of margin, and expanded opportunities to the company by continuing to present and secure the sectors top oil and gas properties," stated Stan Wilson, AER Energy Resources, Inc., President.
"Brandon Guiles, President of Multiplex, has been one of the industry's top performers, and has been integral in the completion of this opportunity for AER Energy to springboard to the next level of oil and gas production," added Mr. Wilson.