As the U.S. Oil industry gets back on track post-covid, Allied Energy Corp. (OTC: AGYP) is a U.S oil company that is quickly taking advantage of the growing market. With demand for oil strengthening due to robust gasoline consumption and increasing international travel as more countries reopen their borders, the company is bound to play a more central role in US oil independence. With the U.S. oil production outlook set to grow over the next five years from 10.96 million barrels per day in 2021 to more than 12.9 by 2030, and oil price continuing to surge, AGYP stock could be a profitable investment.
AGYP has been acquiring and re-working existing oil and gas reserves throughout the US for years now. As a domestic company, its mission is centered around reviving resources using sustainable systems with minimal cost, as a pathway to building a better company and stronger shareholder growth.
AGYP is constantly on the lookout for abandoned lease sites. Their most profitable sites to date are the Green Lease site, which holds $2,944,900 of proved oil and $18,536,600 of probable and possible oil. The Annie Gilmer site holds $6,704,900 in proved oil and gas reserves with $5,489,900 in probable and possible reserves. Their newly acquired 325-acre Prometheus Lease site in Texas, might just be their biggest investment yet. With numerous oil producing wells in this site, AGYP is expecting a significant rise in its oil production and is a bullish sign of what AGYP may be able to achieve in terms of long-term production.
To efficiently revitalize abandoned wells and make the most out of each lease site, AGYP has been implementing new technologies like horizontal legs, downhole drilling, and fracking. These technologies help keep operation costs low and frees AGYP’s funds up to take advantage of the 420,000 marginal wells across the country.
AGYP has a proven record of success in the industry and intends to foster rapid growth through its ability to identify and rework oilfields that offer an exceptional return on investment for investors. With approximately 20% of American oil production and 10% of American natural gas production coming from marginal wells, Barry Russell, President of the Independent Petroleum Association of American recently named AGYP: “America’s true strategic petroleum reserve.”
Loyal shareholders think AGYP stock is bound for the NASDAQ. @ZapBuysDower
AGYP is currently trading at $.3068 and it has a support at .2926. With a primary resistance of 0.3199 and a secondary resistance of .3503. The MACD had a bearish crossover to the downside while the RSI is at 44.69. Accumulation is approaching a downward trend following an upward spike.
Should you buy?
As a domestic oil company with ongoing acquisitions and investments in strategic locations all over the US, it is clear AGYP places great emphasis on providing shareholders the best possible return on their investment. While the oil sector’s volatility is a risk factor that investors should consider beforehand, AGYP’s long-term production plans and activity in its newly acquired Prometheus lease site are looking promising. As the company releases more updates, bullish investors will be able to make a more informed decision regarding AGYP stock.
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