Xfuels Inc.
Other OTCCapital Structure
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- CEO
- Michael D. McLaren
- Sector
- Energy
- Industry
- Oil & Gas Exploration & Production
- Address
- 1500, 850 - 2 Street Sw Calgary AB Canada T2P 0R8
- IPO Date
- Apr 10, 2013
- CIK
- 0001518548
- Website
- cycleind.com
- Similar Companies
- Business
- Xfuels Inc. (OTC Pink: XFLS), formerly Cycle Energy Industries Inc., operates as a diversified energy company focused on oil and gas acquisition, exploration, production, and related services; the company maintains three vertically integrated business units including Cycle Oil and Gas, which acquires and optimizes underdeveloped oil and gas assets in Canada and the US producing approximately 110 barrels of oil per day alongside royalty positions and non-operating properties; Cycle Energy Services, which provides customized wireline-service rigs and HydroVac units to support exploration and production efforts; and Cycle Energy Technologies, which develops research, intellectual property such as mobile gas-to-liquid systems, hydrogen generation technology from combustion, and green energy production solutions. Founded in 2010 and headquartered in Carson City, Nevada with operations spanning Canada—particularly Alberta—and the United States including Texas leases, Xfuels targets small to mid-sized oil and gas assets for revitalization through workovers and infrastructure enhancements. Recent strategic developments within the last few years encompass multiple acquisitions to bolster US presence such as the 2022 purchase of Ray Loveless Enterprises LLC and R.L. Gathering LLC for $575,000 covering 10 leases and 106 wells in Texas, the acquisition of Triple S Gas for $320,000 including 7 leases, 54 wells, and 6 oil batteries in Wichita and Wilbarger counties Texas, relocation from Alberta Canada to Texas for US market expansion, divestment of its Cycle Oil & Gas Ltd. Alberta interest for $1.5 million in 2022 to streamline operations, and a shift in business plan toward full exploration drilling and production following the purchase of a drilling rig by Cycle Energy Services; the company also entered an equity purchase agreement for up to $3.5 million in financing and remains up to date on financial filings while advancing technologies like biodiesel production at its Bieseker plant.
Xfuels Announces Strategic Move to Capitalize on $1 Trillion Infrastructure Bill Currently Being Negotiated by Congress
Xfuels Announces Elimination of $1,468,638 in Derivative Liability
Xfuels Announces Elimination of $1,468,638 in Derivative Liability
Xfuels Announces Entry into Texas Oil & Gas Market
Xfuels Inc. Signs Supply and Offtake Agreement for Biodiesel Plant
Xfuels Inc. to produce Biodiesel at Bieseker plant
Xfuels Inc. Shareholder Update July 2021
Xfuels Inc. subsidiary Cycle Energy Services purchases Drilling Rig – Xfuels to begin new drilling programs
Xfuels Inc. Subsidiary Cycle Energy Services Purchases Drilling Rig - Xfuels to Begin New Drilling Programs
Xfuels Inc. Signs Letter of Intent to Purchase Incinerator Plant
Xfuels Inc. Signs Letter of Intent to Purchase Incinerator Plant
Xfuels Inc. Shareholder Update April 2021