LGX Energy is an early-stage oil and gas company focused on the development of an existing property in what is referred to as the Thomas Field, located in Clay County Indiana. The property includes current production of approximately 400 barrels per month.
The LGX team includes a handful of industry people who have spent their careers in oil and gas with a mix of disciplines including geology, seismic data interpretation, land acquisition, field operations and others. Moreover, they have also spent much of their careers in and/or around the Illinois Basin, and they are quite familiar with the basin and formations therein. Further, the team was also (originally) responsible for the aggregation and development (including the seismic) of LGX’s acquisition. Their knowledge of and prior work on the property was the basis for their decision to acquire these particular asset(s) and to focus on the development of the area.