XA Interactive Successfully Completes Its First three Oil Wells Drilled In The Permian Basin
In a groundbreaking development, XA Interactive, a technology and secondary recovery oil and gas company, has announced the successful completion of its first three oil-wells drilled in the Permian Basin and has already started production. This event marks the start of their well-planned 335-well drilling campaign, which forms an integral part of the company’s secondary recovery efforts in the region.
XA Interactive, presently valued at $113 million based on PV10, is observing great success in the secondary recovery oil and gas industry under the leadership of CEO Michael Prozer. PV10, a standard measure used in the oil and gas sector to assess a company’s value, excludes the company’s reserves which are anticipated to significantly boost the company’s overall value.
Prozer credits the company’s success to its relentless focus and decision to collaborate with a talented group of subject-matter specialists. He says, “XA’s focus in secondary recovery required the very best in partners and operators. We work with the best in the industry, and are excited about these current wells, and the new wells we are bringing online in the coming weeks.”
Many key players in the oil and gas sector gathered in the Permian Basin, and XA Interactive’s efforts are anticipated to have a significant effect on the market. The company has also made it clear that it will continue drilling efforts with an aim to increase production and revenue in the upcoming years as well as tapping into its reserves.
Investors are reportedly very excited about the drilling’s success and are eager to see how it will impact the company’s stock price and overall valuation as the company prepares to go public via a reverse-merger. Although XA Interactive is a newcomer to the oil and gas sector, it is fast establishing itself as a major player in the industry. “We are really confident that the successful drilling of this major oil deposit will positively influence our stock prices. The investor interest has been exciting, given that we’ve moved past speculation and are now operational and prepped to take the company public. It’s an exciting time for investors to be a part of XA!” Exclaims Michael Prozer.
For more information, please visit www.xainteractive.com
Company Name: XA Interactive, Inc.
Contact Person: Josephine Vargas
Email: Send Email
City: Las Vegas
Country: United States