Allied Energy Inc. was founded by Jon Makeever and has operated in Petroleum, West Virginia since 1993. He has built a good reputation in the State, assembled an excellent team of experts and has established critical relationships with local producers who can supply a steady stream of drilling opportunities for Allied Energy.
CUSTOMERS: Given the high quality of the oil (± 45˚/52˚ API gravity) and the pipeline quality of the natural gas, Allied has never faced any issues regarding sale of the commodities. The Allied leases are served by tanker trucks to haul away the oil and are close enough to major pipelines that gas transportation is simply a matter of adding spur lines within a short distance. All of the oil and gas from the area is sold to gatherers with strong credit ratings. Allied has never had a credit issue with any of its product sales.
COMPETITION: None of the major international energy companies and very few of the well known independent companies operate in the shallow to medium Appalachian basin. Players in the shallow production areas of West Virginia are typically smaller privately held companies, many of whom are owned by older gentlemen looking for an exit. Allied believes the market is ripe for additional consolidation of prime oil and gas leases.
Utilizing reliable information prepared by the WV Geological & Economic Survey and U.S. DOE that exists on the original oil/gas wells in this area, Allied Energy’s proven oil/gas reserves have been estimated at 26 million barrels of oil.
A typical Vertical oil well in this area will average 60 barrels per day and gas 1,665 Mcfd (Oil and Gas Journal, Feb. 15, 1965) with reserves of approximately 167,000 barrels of oil per well, on 20 acre spacing. A typical Horizontal well will average seven times the production of a vertical well. All of the company's new lease acquisitions have yet to be drilled out to the total oil and gas producing capabilities, and according to DOE reports there may be up to 70% of original oil and gas reserves remaining in this area.
Allied has a policy of outsourcing the majority of its work requirements while retaining the critical value-added functions. This policy has allowed Allied to grow and prosper despite price cycles and volatility.
Allied Energy, Inc. Leadership Biographies
Mr. Jon M. Makeever Founder, Chief Executive Officer and President of Allied Energy, Inc., directs and manages the business affairs of the company. Mr. Makeever has over 29 years experience in the oil and gas industry and has been involved in all phases of the business, including exploration, drilling, and production management. His experience also covers strategic planning, administrative, operations, and IPO equity financing.
Mr. Jack McCune Production and Operations Manager for Allied Energy, Inc. for five years, has over 30 years of experience in the oil and gas industry and has been involved in all phases of the drilling and production end of the business. With a production work crew of eight employees, Mr. McCune has all of the service equipment necessary to accomplish all tasks required by the company on a consulting basis.
Mr. David Wiggers Office Manager for Allied Energy, Inc. for nine years, Mr. Wiggers a retired chemist handles a myriad of contracts and documentation required for lease acquisition, assignments, lease farm-outs, royalty payments, lease sales, permits, etc. This includes obtaining approvals for well re-completions and new drill sites with the State Division of Oil & Gas. Additionally, the team meets with State inspectors for approvals both before and after work has been completed. Lastly, he handles payment of county leasehold taxes and responds to any questions from Allied’s royalty stakeholders.
Mr. Richard Wedel Drilling Supervisor for Allied Energy, Inc. for nine years, Mr. Wedel is responsible for planning and executing horizontal and vertical drilling activities. His expertise is utilized during the drilling phase of operations where he brings 25 years of experience as past President of Horizontal Ventures, Inc.