Exton-based oil and gas company, Allied Resources Group (ARG), has recently entered into an agreement to acquire the New York-based STV's midstream oil and gas business operations. This significant business move signifies ARG's strategic expansion into midstream operations while potentially enhancing its overall operational efficiency and market presence. The...
1. Allied Resources Group (ARG), the Exton-based oil and gas company, has agreed to acquire STV's midstream oil and gas business operations based in New York.
2. It is a strategic business move for ARG as it seeks to expand into midstream operations and potentially enhance its overall operational efficiency and market presence.
3. The acquisition enables ARG to expand its energy portfolio beyond Pennsylvania and tap into the lucrative New York City energy market.
4. This step underscores ARG's innovative approach to growing its footprint and diversifying its revenue streams in the energy sector.
5. The deal solidifies ARG's commitment to creating sustainable and efficient energy solutions for the future.
The acquisition includes STV's ownership in over 800 wells located across New York and Pennsylvania.
The acquisition is a strategic move for ARG in expanding its energy portfolio beyond Pennsylvania. With STV's midstream oil and gas business operations under its belt, the company is poised to tap into the lucrative New York City energy market. This development also underscores ARG's innovative approach towards growing its footprint and diversify its revenue streams in the energy sector. The deal further solidifies ARG's commitment to creating sustainable and efficient energy solutions for the future.