Independence, Kan.-based Allenergy Inc., an oil and natural gas development and production company, is expanding its business to include wind power.
Because of revenue and federal tax breaks, many landowners in the region are seeking to use their land for wind power generation, according to the company. Allenergy is taking the necessary steps to sell, service and install wind power generation. It can also benefit from wind power revenues on its current leases and on additional land leases.
"Though our core focus remains oil and natural gas production and well services, it has been a part of our long-term strategic plan to diversify," says CEO Larry Sanford. "With the incredible rise and fall of oil prices recently, it seems even more prudent to open up additional revenue streams."
Rex Horning, Allenergy's vice president of operations, has been leading the strategic planning for the company's diversification.
SOURCE: Allenergy Inc.