Fueling Growth: Tenth Avenue Petroleum Celebrates Successful Acquisition and Financing Closure!
Calgary, AB / ACCESSWIRE / December 31, 2024
Tenth Avenue Petroleum Corp. (“TPC” or the “Company”) (TSXV:TPC) is pleased to announce that further to its press release dated October 29, 2024, the Company has closed the acquisition (the “Acquisition”) of approximately 82 boe/d (492 mcf/d) of low decline, long-life producing natural gas assets located northeast of Brooks, Alberta. The Acquisition provides multi-zone and low-cost optimization upside while capitalizing on an opportunity to consolidate high-quality, gas-weighted assets with existing infrastructure over a contiguous 32 section (16 net) of land position within our core area in Southern Alberta.
Tenth Avenue Petroleum Corp. is on a path of growth and success with this recent acquisition and financing closure. The addition of these natural gas assets will not only increase the company’s production but also provide opportunities for further expansion and optimization. By acquiring assets with existing infrastructure, TPC is strategically positioning itself for long-term success in the oil and gas industry.
With a focus on low decline, long-life producing assets, TPC is ensuring a stable and sustainable source of revenue for the future. The multi-zone potential of these assets gives the company plenty of room for growth and development, while the low-cost optimization strategies will help maximize profitability.
How will this affect me?
As a shareholder or potential investor in Tenth Avenue Petroleum Corp., this successful acquisition and financing closure is great news. It demonstrates the company’s commitment to growth and profitability, which can potentially lead to an increase in stock value and dividends in the future. The strategic consolidation of high-quality assets also bodes well for the company’s long-term stability and success.
How will this affect the world?
The acquisition of natural gas assets by Tenth Avenue Petroleum Corp. is not only beneficial for the company but also for the industry as a whole. By investing in and developing these assets, TPC is contributing to the global energy supply and supporting economic growth. The utilization of existing infrastructure also helps minimize environmental impact and promote sustainable practices within the oil and gas sector.
Conclusion
Tenth Avenue Petroleum Corp.’s recent successful acquisition and financing closure marks a significant milestone in the company’s growth trajectory. With a focus on low decline, long-life producing assets and cost optimization strategies, TPC is poised for success in the oil and gas industry. Shareholders and investors can look forward to potential growth and profitability, while the world benefits from increased energy supply and sustainable practices.
