Allied Energy Fuels The Future Of Crypto With Groundbreaking Natural Gas Agreement

(MENAFN- GlobeNewsWire - Nasdaq) MCKINNEY, Texas, Feb. 11, 2025 (GLOBE NEWSWIRE) -- Allied energy Corporation (OTC: AGYP) (“Allied Energy”) proudly announces a transformative Natural gas Purchase and Sale Agreement with River Energy Group, LLC and Louis Energy Gas Texas, Inc. This collaboration positions Allied Energy at the forefront of both the energy and digital economies, helping to power the next generation of Cryptocurrency data centers while embracing sustainable and efficient Natural gas usage.

With exclusive rights granted to Louis Energy Gas Texas, Inc. to purchase natural gas from the Thiel Well 1 in Washington County, Texas, this agreement is set to energize a state-of-the-art cryptocurrency mining facility. Strategically located near the wellhead, this facility is designed to meet the rapidly growing energy demands of the digital economy.

As of the latest Texas Railroad Commission data from December 2024, Texas continues to lead in natural gas production, with the state accounting for nearly 25% of U.S. natural gas production. In 2023 alone, Texas produced more than 11 billion cubic feet of natural gas daily, making it the largest natural gas producer in the United States. The natural gas supply from Well 1 will provide the stable, reliable energy necessary to support Louis Energy Gas Texas, Inc. cutting-edge 2-3.5 megawatt mining operation, with plans for future expansion.

In addition, according to the Cambridge Centre for Alternative Finance, the U.S. is the world leader in Bitcoin mining, with approximately 37% of the global hash rate coming from U.S.-based operations. This dominance is partly powered by reliable, low-cost energy sources such as natural gas, an efficient and environmentally responsible option for powering large-scale mining facilities.

Key Highlights of the Agreement Include:

• Exclusive Natural Gas Supply: Allied Energy and River Energy will deliver a steady and exclusive natural gas supply from Well 1, providing a reliable and cost-effective energy source to power Louis Energy Gas Texas, Inc. mining operations.
• Crypto Datacenter Infrastructure: Louis Energy Gas Texas, Inc. will build and operate a state-of-the-art mining facility with a minimum one-megawatt power generation capacity, with plans for future expansion to meet future energy demands.
• Sustainability and Efficiency: This collaboration is committed to utilizing natural gas in the most efficient and sustainable manner possible, supporting a greener, more energy-efficient future for the crypto currency sector.
• Regulatory Compliance: Louis Energy Gas Texas, Inc. is fully dedicated to securing all required regulatory approvals and permits, ensuring that every aspect of the project meets rigorous environmental and safety standards.

“We are thrilled to be partnering with River Energy and Louis Energy Gas Texas, Inc. on this exciting new venture,” said George Monteith, CEO of Allied Energy.“This agreement marks a major milestone for Allied Energy, highlighting our dedication to providing sustainable energy solutions for the rapidly growing crypto currency sector. It also positions us to play a pivotal role in the expanding natural gas market, supporting long-term growth and innovation.”

This agreement represents a key moment for both the energy and technology industries, underscoring the importance of sustainable, reliable energy in powering the future of digital economies worldwide.

About AGYP:

Allied Energy Corp. is an energy development and production company acquiring oil & gas reserves in some of the most prolific hydrocarbon bearing regions of the United States. The Company specializes in the business of reworking & re-completing 'existing' oil & gas wells located in the thousands of mature oil & gas producing fields across the United States. The Company applies its knowledge, experience, and effective well-remediation technologies to achieve higher production volumes, longer well life, and more efficient recovery of the proven and available oil and gas reserves in the fields/projects in which it has acquired an ownership interest. The Company will utilize updated technologies such as hydraulic fracturing ("fracking"), drilling of lateral ("horizontal") legs in productive zones, and utilizing new cased hole electric logging to locate bypassed pays, all to enhance daily rates and oil & gas recoveries. By acquiring interests in a growing number of selected projects in various regions, Allied Energy Corp. is diversifying its exposure and effectively minimizing risk as it pursues corporate growth, top line & bottom-line revenues to the benefit of all stakeholders. There are proven, recoverable reserves contained in the many aging oil & gas fields that have been bypassed by companies moving away from these fields in search of deeper, more plentiful, but more costly reserves. The Company plans to concentrate on bypassed oil and gas as there is less competition and, as mentioned above, the costs are considerably less. Additionally, the company will acquire interests in marginal wells that can be acquired at minimal cost, of which there are 420,000 wells in the U.S. Quoting Barry Russell, President of the Independent Petroleum Association of America ("IPAA") - "With approximately 20 percent of American oil production and 10 percent of American natural gas production coming from marginal wells, they are America's true strategic petroleum reserve.”

About River Energy Group, LLC:

River Energy Group, LLC brings over 90 years of expertise in the commodities, derivatives, and financial services sectors. The company has partnered with Allied Energy Corporation through a joint venture to identify, secure, and allocate stranded and flared natural gas resources. Their focus is on transforming these resources into resilient and reliable stand-alone microgrids, advancing sustainable energy solutions.

About Louis Energy Gas Texas, Inc.:

Louis Energy Gas Texas, Inc. is a forward-thinking energy company specializing in the development, operation, and optimization of innovative energy solutions. The company focuses on providing high-capacity, sustainable energy to diverse industries, with a notable emphasis on powering crypto currency data centers. Louis Energy Gas Texas, Inc. is committed to advancing renewable energy technologies while ensuring operational efficiency, reliability, and regulatory compliance across all its projects. Through strategic partnerships and cutting-edge infrastructure, Louis Energy Gas Texas, Inc. continues to play a pivotal role in driving Texas' energy future forward.

Safe Harbor Statement:

This Press Release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates," "believes," "estimates," "expects," "plans," "intends," "potential" and similar expressions. These statements reflect the Company's current beliefs and are based upon information currently available to it. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause the Company's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. The Company undertakes no obligation to update or advise in the event of any change, addition or alteration to the information catered in this Press Release, including such forward-looking statements.

Contact:

Allied Energy Corporation
Phone: 972-632-2393
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