AXP Energy has confirmed the presence of hydrocarbons in multiple pay zones at its Charlie #1 well, drilled on the Edward Lease in Noble County, Oklahoma. The well was drilled to a total vertical depth of 4,725 feet on September 22. Following drilling, a full suite of wireline logs was successfully acquired, and 5½-inch casing was set and cemented in place.
The log analysis identified oil and gas shows across four key formations. These intervals included the Oswego Lime at 3,776 to 3,806 feet, the Mississippi Chat at 4,293 to 4,317 feet, the Mississippi Lime at 4,403 to 4,623 feet, and the Woodford Shale at 4,623 to 4,662 feet. The most extensive hydrocarbon indicators were found in the Mississippi Lime, with a continuous 260-foot section showing promising characteristics for commercial development.
With these results, AXP Energy has shifted its focus toward designing completion operations. The company plans to carry out staged hydraulic fracturing of the Mississippi Lime, with activities expected to begin during the week of October 20, 2025. If execution proceeds as scheduled, initial production from Charlie #1 is anticipated by the end of the same month.
Dan Lanskey, AXP Energy’s Managing Director and Chief Executive Officer, emphasized the importance of moving the project forward. “We are working closely with our contractors to finalize a multi-stage frac program targeting the Mississippi Lime. The Charlie #1 results reaffirm the potential of this formation across our leasehold position,” Lanskey said.
The Edward Lease spans approximately 1,000 acres, with AXP holding a 100 percent working interest and an 81.25 percent net revenue interest. The company’s forward plan includes drilling additional wells over the next twelve months to appraise and develop the 300-foot-thick Mississippi Lime formation. This formation is laterally extensive across the region, offering substantial upside potential.
The Charlie #1 well marks an important milestone in AXP’s strategy to strengthen its position in Oklahoma’s established producing basins. The company aims to maximize recoveries from historically productive formations by applying modern drilling and completion methods. The Mississippi Lime, in particular, has long been recognized as a prolific oil and gas-bearing formation, though its development has often been limited by the technologies available at the time. AXP intends to capture additional value by leveraging today’s advanced hydraulic fracturing and well completion techniques to increase recovery factors.
Beyond Charlie #1, AXP’s activity underscores a broader commitment to expanding output in Oklahoma. With a large lease footprint and control over development pace, the company is positioned to bring additional wells online in sequence, thereby optimizing capital efficiency. Early appraisal of the Mississippi Lime’s thickness and lateral extent supports the prospect of multi-well development programs.
The company’s ability to operate with full working interest in the Edward Lease provides flexibility in capital planning and operational execution. Holding a high net revenue interest further enhances project economics, especially in the context of current market pricing for crude oil and natural gas. This structure ensures that a significant portion of revenue from future production will flow directly to the company and its stakeholders.
For Oklahoma’s energy landscape, developments like Charlie #1 highlight how independent operators are continuing to invest in mature basins. While large-scale unconventional plays dominate headlines, there remains strong potential in traditional reservoirs where modern completion techniques can unlock new phases of production.
AXP’s strategy reflects a broader industry trend of revisiting legacy formations with fresh eyes and improved technology. The Mississippi Lime, Oswego Lime, Mississippi Chat, and Woodford Shale have long been known for their hydrocarbons, but their economic potential is being redefined as operators bring more precise geoscience and engineering into the field.
As Charlie #1 moves into the completion and production phase, AXP Energy will look to demonstrate the viability of its approach across its broader leasehold. If successful, the well will serve as a foundation for additional drilling and long-term development across the Edward Lease, strengthening the company’s footprint in Noble County and contributing to Oklahoma’s ongoing role as a key producer in the Midcontinent region.
