Strata-X Energy Ltd. (TSXV: SXE) announced March 5 it signed an agreement with an undisclosed third party to acquire a producing horizontal well and 23,595 net acres of exploration leases adjacent to the its existing Vail Oil Project for $2.25 million.
Not including this acquisition, Strata-X has 100% net working interests in oil and gas exploration rights on 49,200 net acres covering the Vail Oil Project in the Illinois Basin. Upon completion, the Denver-based company will have 100% of 72,795 net acres in the Illinois Basin.
Strata-X will fund the acquisition with exisiting cash reserves. The acquisition is expected to close March 20.
Recommended Reading
Energy Transition in Motion (Week of June 6, 2025)
2025-06-06 - Here is a look at some of this week’s renewable energy news, including a record $2.2 trillion in global clean energy investments.
Energy Transition in Motion (Week of May 2, 2025)
2025-05-02 - Here is a look at some of this week’s renewable energy news, including a solar power deal backed by Meta Platforms.
Energy Transition in Motion (Week of June 13, 2025)
2025-06-13 - Here is a look at some of this week’s renewable energy news, including an agreement between RWE and tech giant Amazon.
Energy Transition in Motion (Week of May 9, 2025)
2025-05-09 - Here is a look at some of this week’s renewable energy news, including a low-carbon deal between Exxon Mobil and Marubeni.
Energy Transition in Motion (Week of May 16, 2025)
2025-05-16 - Here is a look at some of this week’s renewable energy news, including a solar power deal signed between Google and energyRe and rogue communication devices hidden in renewable energy infrastructure.