Pure Oil & Gas Inc. Achieves Milestones in Drilling Operations
- Pure Oil & Gas Inc. manages 14 operating wells and has raised $6 million in funding to enhance its drilling operations.
- Production volumes have increased significantly, from 175 barrels in June to an estimated 1,980 barrels in September.
- The company plans to complete five additional wells by the end of 2024, indicating a strong commitment to growth.
In October 2024, Pure Oil & Gas Inc., a subsidiary of Southern ITS International, Inc., announced significant advancements in its drilling operations and production capabilities. The company currently manages 14 operating wells and has successfully raised $6 million in funding to support ongoing and future projects. This financial boost is expected to enhance their operational efficiencies and strategic well placements, contributing to increased production volumes. Over the past few months, production has surged from 175 barrels in June to an estimated 1,980 barrels in September, showcasing a remarkable upward trend. The company plans to expand its drilling portfolio by completing five additional wells by the end of 2024. Jeremy Larsen, the President of Pure Oil & Gas, expressed optimism about the company's growth trajectory, emphasizing the importance of strategic capital deployment in achieving these results. The management team is dedicated to leveraging technological advancements to maximize production and operational efficiency across the United States. As a leader in the oil and gas sector, Pure Oil & Gas aims to optimize its resources and enhance its market position. The recent funding and production increases reflect the company's commitment to growth and sustainability in a competitive industry. The support from investors and the dedication of the team are crucial elements in positioning the company for future success. Overall, the developments at Pure Oil & Gas Inc. indicate a strong foundation for continued growth and operational excellence in the oil and gas market.