If anything, last year’s reckoning in the oil and gas industry proved you either make the change or the change makes you. As we’ve witnessed post-pandemic, that ditty has described everything from response to the energy transition to needed consolidation, financial resets, and strategy gear shifts. Reese Energy Consulting today is following the latest news from Plano, Texas-based United Energy, which largely flew under the radar in 2020 while quietly making plans to determine what this small E&P would look like going forward. Over the last 12 months, United has made significant top-down changes beginning with a new pilot at the controls and the sale of underperforming non-core assets and oil producing leases. With a new business model in hand, the company now has announced a new turn in direction. United has acquired operated and non-operated oil and gas leases in Okla., and Kan., that cover 240,000 acres and include 2,200+ wells and 1,200 miles of gas pipelines. This, in addition to buying a minority stake in a planned oil and refined fuels storage terminal in La., with an initial capacity of 6.8 million Bbls.
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United Energy Corporation is a diversified oil and gas producer based in Plano, TX with a 50-year history in the energy, manufacturing, and mining industries. The Company’s new post-pandemic corporate directive includes exploration, development, production, technology and storage.