Pytheas Energy, Inc Announces Acquisition of Three Producing Oil and Gas Properties

Pytheas Energy, Inc, a growing oil and gas exploration and production company, recently announced the acquisition of three producing oil and gas properties the Andrews Crane Asset, the Bakken Asset, and the MinervaRockdale Asset. These properties include interests in over 620 oil and gas wells with a combined gross current production of approximately 357 barrels per day (BPD). CEO Josh Zuker highlighted the companys growth over the past few months, citing their use of proprietary AI technology to identify and acquire these assets at what they believe were belowmarket prices.

The funding will be used to revitalize dozens of wells across the acquired properties, with the goal of increasing production by up to fourfold in the next 1218 months. Pytheas Energy also plans to explore further acquisition opportunities using its AIbased platform to identify new targets on existing properties.

The Andrews Crane Asset, located in Texas, consists of a 15% membership interest in Andrews Crane SPVI, LLC, which owns a nonoperating interest in 113 conventional wells. The Bakken Asset comprises a 12% nonoperating working interest in 19 wells in North Dakotas Bakken Region. The MinervaRockdale Asset, situated in Texas, includes a ~50% nonoperating working interest in approximately 488 wells.

Pytheas Energy is currently undertaking a capital raise through Regulation Crowdfunding on equifund.com, with over $3.7 million raised of the $5 million maximum. The offering is open to accredited and nonaccredited investors. For more investment information, visit: https://ift.tt/Ms4XFpf