AXP Energy has a primary operations focus in the Illinois and Appalachian basins where the company actively pursues acquisitions and enhancements of existing long life wells with sales channels and support infrastructure already in place.
The recent acquisition of Magnum Hunter Production adds over 100,000 acres and 1300 wells to the companies portfolio of low cost, low risk wells, making AXP Energy the 4th largest gas producer in Kentucky.
Other acquisitions recently made by the company include assets from Trey Exploration. This acquisition was initiated in October 2020 and added another 4600 acres and 119 wells in Indiana, Illinois and Kentucky to the companies already established production in the Illinois Basin.
With an inventory of pre-existing wells in basins that have already experienced their primary declines AXP Energy has developed a predictable revenue stream that can be enhanced through low cost workovers.