Black Gold Exploration joins with LGX Energy to expand key U.S. oil and gas leases
(WO) — Black Gold Exploration Corp. has announced the addition of 822 acres to the package of oil, gas and mineral leases in Clay County and Vigo County, Indiana that are subject to its ongoing joint venture (JV) with LGX Energy Corp., bringing the total leased acreage to 911.9 acres.
When originally announced on August 7, 2024, the leased land package covered only 89.9 acres. This additional land package sets the stage for a strong long-term partnership and success in these regions. The added acreage also strengthens Black Gold’s indirect foothold in one of the most promising oil-producing regions in the Midwest, where LGX is currently producing and is actively engaged in further exploration efforts.
The acreage is strategically located near LGX’s existing production assets. LGX is utilizing its extensive proprietary 2D seismic data and has now initiated advanced 3D seismic exploration to identify high-potential drilling sites on the leases, with the goal of significantly boosting oil and gas output in these key counties.
Oil and strategic U.S. investment opportunities
With the ongoing conflict in the Middle East, the demand for stable and secure energy sources has intensified. The robust infrastructure in Clay County and Vigo County, combined with LGX’s advanced seismic technology, uniquely positions Black Gold’s joint venture with LGX to take advantage of immediate production opportunities while also setting the stage for future exploration growth. In a volatile energy market, this strategic focus on established regions highlights the potential for sustained returns and enhanced energy security, making it an appealing choice for stakeholders navigating the evolving energy landscape.
“We are very excited with the larger lease holdings land parcel that LGX Energy Corp. has secured for our joint venture,” said Francisco Gulisano, CEO of Black Gold. “This acquisition reinforces our commitment to providing stable, domestic energy sources in a market impacted by global instability. We hope that LGX’s advanced exploration efforts with 3D seismic technology will ensure that we continue to identify high-potential drilling locations.”
