Innovation Beverage Group, BlockFuel Energy give update on proposed merger progress

Reuters04-07

Innovation Beverage Group, BlockFuel Energy give update on proposed merger progress

Proposed merger between Innovation Beverage Group and Texas-based BlockFuel Energy remained subject to customary closing conditions, with IBG holding 51% of BlockFuel.
BlockFuel reported 15 wells producing across its Central Oklahoma assets, with 5 additional wells expected online by end of week.
Oil and gas sales began in first quarter, with peak production of about 100 boe/d.
Assets acquired in fourth quarter 2025 included 54 existing production wells, with infrastructure expected to limit incremental capital needs.
BlockFuel evaluated vertical drilling at about 40-acre spacing, citing estimated EUR of about 65,000 boe per well and average drilling and completion cost of about $700,000.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Innovation Beverage Group Ltd. published the original content used to generate this news brief on April 07, 2026, and is solely responsible for the information contained therein.

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