Energas Resources Completes Parkway Project Pipeline
Energas Resources has completed the pipeline that will carry gas from the wells in the Parkway Project to a major gas utility pipeline.
"This is truly a landmark date for Energas Resources, Inc.," said George Shaw, President. "As we've said before, we fully expect the Parkway Project to rapidly become our marquis field, catapulting us to the next level of revenue, cash flow and earnings. Based on various tests that we've performed on some of the wells in the Parkway Project over the past several months, we expect our revenue to increase several fold over the next year, and our cash flow and earnings to grow commensurately."
"After the pipeline undergoes routine testing, our focus will shift to the gathering system, which will connect the wells already under contract to the pipeline," said Scott Shaw, Vice President. "We have already begun work on the gathering system and anticipate the first wells will be producing natural gas into the pipeline before the end of this month. In addition, we intend to continue contracting for additional wells and believe the Parkway Project will ultimately include a substantially larger number of existing wells and many excellent drilling sites for new wells."
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