Allenergy Looks to Acquire Rex Horning Well Services

Allenergy, Inc., with a 17-year history in the oil and gas industry and current involvement in the multi-billion dollar natural gas fields in Kansas and Oklahoma, said that negotiations are in place to acquire Rex Horning Well Services (RHWS), LLC of Independence, Kansas.

RHWS is an energy services firm operating in Southeastern Kansas and Northeastern Oklahoma. Several of Allenergy's existing oil and gas properties and holdings are also in Montgomery County, Southeastern Kansas.

"This acquisition is essential for two reasons," said Company President Larry Sanford. "It would eliminate a three-to-four week waiting period for service work that alters our production scheduling and most importantly impacts the Company's revenue. Secondly, it will generate another avenue for additional income through the vital services such as providing pulling units, trenchers, backhoe and general roustabout services."

"Well service scheduling has been a continual problem for the oil and gas industry," Sanford stated. "With experienced staff, in both Allenergy and RHWS, Allenergy can now create an opportunity from this problem and focus on capturing the revenue that is so readily available on the services side of the industry."