TN-K Energy will own 20% net interest of each well location and will be the operator of the wells. AECo will own 27.5% net interest of each well location. It is anticipated that drilling operations will commence this week.
Ken Page, president and CEO of TN-K Energy, said: “I am very excited to begin drilling this acquisition. This checkerboard acquisition has great potential to be very profitable to all parties involved.”
Chris Headrick, CEO of AECo, said: “We are very excited to be working with TN-K Energy on drilling this 10 well package. We have a great amount of confidence in their ability and knowledge of the oil and gas industry. This is a great opportunity to improve our oil production due to the high potential for success in drilling on the proven and high producing JR Clark lease.”
TN-K Energy is an independent energy company with operations in Tennessee and Kentucky.
