Mountain V Expands Focus to Appalachian Oil with Purchase of AXP

Mountain V Oil & Gas, headquartered in Buckhannon, WV, is a privately owned independent energy company with both conventional and shale assets in the Appalachian Basin. The company acquires and drills wells on over 300,000 leased acres, mainly focused on gas wells. Mountain V is now expanding its focus to include oil. Last fall, the company signed an agreement to buy the oil and gas assets of AXP Energy --- assets located in Tennessee, Eastern Kentucky, Virginia, and the Illinois Basins --- for $4 million. The AXP purchase with its oil-heavy assets closed earlier today.

---

To view this content, log into your member account. (Not a member? Join Today!)