AXP Energy Limited (ASX: AXP) has announced the scheduled installation of its inaugural gas-to-power-digital infrastructure project at the Edwards Lease in Noble County, Oklahoma, during August 2026. AXP Energy Limited is an oil and gas production and development company with operations in Colorado and Oklahoma, also holding an interest in Block 9 onshore Syria. This pioneering project will feature a 320kW natural gas generator, powered by production from the company’s Charlie #1 well, to supply electricity for ASIC digital asset mining equipment owned and operated by Pathfinder Partners.
The Oklahoma deployment marks a significant step forward, following a successful proof-of-concept undertaken in Colorado with Pathfinder Partners, which validated the technical and commercial viability of converting produced natural gas into on-site power for high-performance computing. Under the initial commercial arrangement, AXP will supply natural gas to fuel the generator, earning revenue from these gas sales while retaining all revenue generated from existing oil production. The company also holds an option to acquire the generator within 90 days of installation, which would provide additional revenue from power generation and performance uptime.
Managing Director and CEO Daniel Lanskey stated that the Edwards Lease installation demonstrates how AXP can create additional value from its natural gas production, benefiting from learnings applied from the Colorado trial to achieve a more efficient operation with lower costs. The Charlie #1 well is currently producing approximately 80 to 90 mcf of gas per day. This project provides an immediate on-site customer, aiming to reduce AXP’s reliance on relatively low Henry Hub natural gas pricing. The company is actively assessing other offtake opportunities and the procurement of third-party gas near its Edwards lease to scale up operations, anticipating dual benefits of direct revenue from gas sales and potentially increased oil production from the well. Installation and commissioning are expected this month, with the site projected to be operational early next month.
