Dallas-based HXPN Pledges to Invest up to $100 Million in Mid-Con Energy

The HXPN investment will help support a number of projects and prospective fields that Mid-Con Energy has identified as excellent candidates for the secondary recovery method.

Hart Energy Staff

HXPN Inc. recently signed a letter of intent with Mid-Con Energy Operating LLC to invest up to $100 million in a variety of Mid-Con’s projects.

Mid-Con is a Tulsa, Okla.-based oil and gas exploration and exploitation company with projects located in oil rich basins throughout the Midwest containing almost 10 million barrels of potential recoverable reserves. The company’s expertise is secondary recovery in existing conventional oil fields that have lost reservoir pressure, but still have significant remaining recoverable reserves.

According to a release by HXPN on April 22, Mid-Con has identified a number of projects and prospective fields that are excellent candidates for the secondary recovery method and it expects to move quickly to acquire the necessary lease acreage, and to begin to fully develop the projects.

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