SACHSE, Texas, Oct. 22, 2019 (GLOBE NEWSWIRE) -- United Energy Corp. (OTC: UNRG) is proud to announce that it is in the final stages of completing the acquisition of Rigworx, Inc. located in Texas.
Rigworx Inc is a vertically integrated E&P Company with operating authority in the States of Oklahoma and Kansas. The company anticipates it will expand its footprint into Texas within the next 120 days. It is the intention of Rigworx Inc to grow its lease and mineral holdings through improved production and additional acquisitions. Rigworx produces hydrocarbons from its existing inventory of holdings. The primary focus is oil and, in some cases, complemented by natural gas, condensate and other items.
“We are extremely excited to announce the pending acquisition of Rigworx, Inc. and returning value to our shareholders,” stated Sam Smith, CEO of United Energy Corp. “Our management team believes that Rigworx is perfectly positioned to become one of the major players in the Oil and Gas production industry.” Sam Smith continued, “Over the next few weeks we intend to become a fully reporting SEC company, file for a name and symbol change and finalize the acquisition. This will bring immediate value to our shareholders and transparency to the marketplace.”
“The U.S. has become the world leader in oil and gas output, making extraction (or mining) the nation's fastest growing industry in the next year,” Smith continued. “The growth of the industry over the last few years and expected continued growth will position the company and our shareholders for further expansion in the coming months. The company will provide updates to shareholders about our progress in the near future,” stated Smith.
About Rigworx, Inc.
Rigworx Inc. is a fully integrated, vertical E&P Company with holdings and operating authority in the midsouth. It is the intention of Rigworx Inc to grow its lease and mineral holdings through improved production and additional acquisitions. Rigworx produces hydrocarbons from its existing inventory of holdings. The primary focus is oil and, in some cases, complimented by natural gas, condensate and other items. For more information, please visit www.rigworxinc.com.
This press release is for informational purposes. This press release contains certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. This release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity. Forward-looking statements in this release are based on information available to us as of the date hereof. Our actual results may differ materially from those stated or implied in such forward-looking statements due to risks and uncertainties associated with our business. Forward-looking statements include statements regarding our expectations, beliefs, intentions or strategies regarding the future and can be identified by forward-looking words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "should," and "would" or similar words. We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise."
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