AXP Energy Secures Strategic Leases in Kay County, Oklahoma

AXP Energy Limited (ASX: AXP) has acquired 1,400 acres in Kay County, Oklahoma, through two oil and gas leases, providing access to more than 30 prospective vertical well drilling sites. Situated along the proven Nemaha Ridge with multiple stacked pay zones, the area offers long-established production, strong contractor networks, and close proximity to the Ponca City refinery. While continuing operations in Colorado, AXP will prioritise Oklahoma due to its attractive geology, faster and more cost-effective permitting, and favourable regulations that support gas-to-power-bitcoin mining expansion.

Managing Director Dan Lanskey, who previously achieved a 95% success rate drilling 80 wells in the region, expects drilling of two initial wells to begin within 60–90 days. The company aims to combine oil production growth with off-grid gas-to-power operations through its JDA with Blackhart Technologies. AXP is also targeting expansion to an initial 6,400 acres, significantly increasing its inventory of low-cost vertical well opportunities.

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