Alpha Compute to buy Pennsylvania oil, gas assets for USD 5.5 million
ALP•Alpha Compute announced a USD 5.5 million purchase of operating oil and gas assets covering more than 300 acres in Pennsylvania. The acreage is estimated to hold 2.9 million barrels of remaining oil in place and 50-70 Bcf of gas potential.
1. Asset purchase details
The purchase covers assets across the Marcellus and Utica shales, including producing wells and a test gas well. Alpha Compute estimates about 2.9 million barrels of remaining oil in place, with a gross in-place value of roughly USD 260 million at $90 WTI. The company estimates gas potential of 50-70 Bcf and is targeting 100-200 MW of behind-the-meter generation for a data center.
2. Planned spending
Planned workover spending totals about USD 3.5 million. Completing the gas well is estimated to cost USD 10-12 million per well.
