OKMULGEE, OKLAHOMA, USA, June 30, 2023/EINPresswire.com/ — Okmin Resources, Inc. (“Okmin or the “Company”) (OTCQB: OKMN) today announced that its wholly owned subsidiary, Okmin Energy LLC, along with its partner Blackrock Energy, LLC (“Blackrock”), have entered into a strategic gas gathering agreement over the West Sheppard Pool project together with the owners of the adjacent East Sheppard Pool project (East and West Sheppard Pool hereinafter referred to as “Sheppard Pool”).
Pursuant to the agreement, the parties at Sheppard Pool will collaborate to enhance gas flow outcomes into the numerous entry points of the local pipeline system. The compressor station at West Sheppard Pool has been shut down since late last year. This agreement will provision for existing gas at West Sheppard Pool to resume flow into the pipeline access at the East Sheppard Pool field at no cost. At the same time, the operator of the East Sheppard Pool field will be granted access to channel numerous wells that sit dormant on their field via the master meter at West Sheppard Pool at no cost.
The operator at East Sheppard Pool shall utilize its knowledge and expertise of the greater area, to conduct further work on the Company’s West Sheppard Pool leases in an effort connect more existing wells online with the ultimate goal of having the local compressor station reactivated and achieving optimal gas flow for all parties at Sheppard Pool. Additionally, both parties have agreed to grant each other preferential rights of purchase over their respective lease holdings at Sheppard Pool in the event of any potential sale being proposed by one of the parties.
Okmin’s Chairman, Tom Lapinski said “while this agreement may not be of significant economic size at the present time, it does facilitate the potential for near term resumption of revenue at Sheppard Pool. It also sets the stage for the joint venture partners to connect all the existing wells at West Sheppard Pool in an effort to optimize production capabilities.”
About Okmin Resources Inc.
Okmin Resources, Inc. (OTCQB: OKMN) is a development stage company that is acquiring, exploring and developing natural resource assets. The Company has predominantly been focused on the acquisition and development of domestic oil and gas fields. Okmin’s projects are located in Oklahoma and Kansas. The Company’s lease holdings are all within the Cherokee Platform, a geological feature covering an area of northeastern Oklahoma and southeastern Kansas in the mid-continent region of the United States. The Cherokee Platform has been an established oil producing region for the last century.
Further information is available at Okmin’s website at www.okminresources.com
Okmin Resources Investor & Media Contacts:
Jonathan Herzog President and Chief Executive Officer
Tel: +1 (818) 201-3727
Jessica Abaian Manager, Investor Relations
Tel: +1 (818) 201-3727
Okmin Resources, Inc.
Original article can be found here: https://www.einnews.com/pr_news/642388901/okmin-enters-into-gas-gathering-agreement-at-west-sheppard-pool-project