Allenergy said that, while the Creek County holdings were excellent properties, they yielded lower net profit results than the company’s expectations.
The firm seeks to concentrate on spending its funds in southeastern Kansas because of the success rate and the difference in drilling and lifting costs.
Additionally, Allenergy noted that it has carefully plotted its drilling campaign of new wells for the remainder of 2008, subject to change depending on the possibility of discovering a new field in its leaseholds in southeastern Kansas.
