Pytheas Energy acquires interest in three oil-producing properties

Pytheas Energy has announced the addition of three producing oil and gas properties to its growing portfolio, the Andrews Crane Asset, the Bakken Asset, and the Minerva-Rockdale Asset. These represent both working and non-working interests in 620 oil and gas wells, with a combined gross current production of approximately 357 bpd.

Commenting, CEO Josh Zuker said, “We’ve grown considerably over the past three months. Today, Pytheas Energy holds interests in over 600 oil wells, which we acquired at what we believe were below-market prices. This is thanks to our proprietary, AI-enabled asset identification technology. “In the coming weeks, we plan to start revitalising dozens of wells, in an effort to increase our existing production by as much as four-fold in the next 12 – 18 months. We’re also exploring further acquisition opportunities and will continue to use our AI-based platform to identify new targets on existing properties.”