United Energy Corp. (UNRG), a diversified oil and gas producer with experience in the energy, manufacturing and mining industries, has entered into a securities purchase agreement and convertible debt financing of up to $5 million. The investment was provided by a family office investment fund.
The funding completes UNRG's Stage 1 financing plan for the development of its oil and gas assets and related projects in the Cherokee Basin, the 13-county region in southeastern Kansas and northeastern Oklahoma. The Stage 2 financing plan includes a larger capital facility to be used for additional acquisitions and natural gas producing roll-up opportunities.
“We are pleased to announce this milestone transaction which allows UNRG's operational team to scale and grow aggressively because of the expected long-term demand of natural gas – both domestically and internationally,” said Brian Guinn, CEO and president of UNRG. “This funding provides the financing to meet our g
