Allied Energy, Inc. has plans to develop its own operating company in Oklahoma.

In May 2008, the Company formed Allied Operating, LLC of Oklahoma. Allied Operating, LLC is a bonded operator with the State of Oklahoma and will become a majority owned subsidiary of Allied Energy, Inc. In the future, Allied Operating, LLC will operate Allied Energy's producing properties and provide supervision of the Company's entire field operations in Rogers County, Oklahoma.

"Although we continue to enjoy a mutually rewarding business relationship with United Producers, our current field operator, the development of Allied Operating, LLC is strategically important and necessary to keep pace with our rapid growth in Rogers County," said Steve Stengell, Allied's Vice President of Business Development.

The Company has approximately 6,000 acres under lease, more than 60 wells under development and continues to build its own gas line infrastructure system in Rogers County to maximize its price for gas at the wellhead.

Tags: Allied Energy