Harris Exploration, Inc.
HXPN
Other OTC0.00
USD
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Harris Exploration, Inc.
HXPN
(Other OTC)
Recent
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yld
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ROIC.AI
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- Business
- Harris Exploration, Inc. (HXPN) operates as a growth-oriented investment and merchant bank holding company focused on the acquisition, development, and exploitation of emerging technologies, precious metals, energy resources, and oil and gas assets. The company, through its subsidiaries, engages in the purchase and rework of end-of-life, capped, and low-production oil wells using CO2 and natural gas enhanced oil recovery (EOR) methods and other secondary recovery technologies; mining and extraction of gold deposits; and investment in mineral resources and exploration projects. Its activities span oil-rich basins in Illinois, Kansas, Oklahoma, and Texas, with additional interests in Louisiana and northeastern Oklahoma. Harris Exploration, Inc., founded in 1970 and headquartered at 6320 South Sandhill Road, Suite 10, Las Vegas, Nevada, targets conventional oil fields with significant recoverable reserves and emerging technologies in the energy and materials sectors. In recent developments, the company announced an investment commitment of up to $100 million with Mid-Con Energy Operating LLC, a Tulsa-based oil and gas firm specializing in secondary recovery, with due diligence ongoing as of 2022; acquired a 25% working interest in the Bayou Villars oil field in Louisiana, featuring proven reserves exceeding 1 million barrels and projected production of 150-300 barrels per day; and completed a 75% equity acquisition in Sheppard Pool Energy LLC, securing over 4,900 acres in northeastern Oklahoma with 3 million barrels of oil equivalent reserves and proprietary water-handling technology. These strategic moves align with HXPN's expansion into high-potential EOR projects and re-completion opportunities, while earlier efforts included a letter of intent for H2O EMC2 atmospheric water generators and a $500 million senior secured note issuance with OPUS AMDG, though some prior deals were terminated. The company relocated its headquarters to Frisco, Texas, to support growth and appointed Steve Bailey as Chairman, President, and CEO in 2021 to refocus on mineral resources and compliance.
Harris Exploration Drilling & Associates: Visit us at PDAC 2024 Convention in Toronto this March at Booth 7404N