Alpha Compute Updates Due Diligence Estimates for Oil and Gas Transaction

Alpha Compute Operating (ALP) has updated its due diligence estimates on the $5.5 million Alpha Energy 02 oil and gas transaction. The site covers more than 300 acres with over 75 active oil and shallow gas wells, one uncompleted gas test well, and estimated 2.9 million barrels of remaining oil in place.

The company estimates that 145,000 to 435,000 barrels of recoverable oil could yield $13 million-$39.1 million in gross revenue before costs. Additionally, they estimate 50-70 billion cubic feet of recoverable gas across the site and $40 million-$100 million in illustrative gross lifetime revenue from the test well if its gas were sold.

The planned power supply for a data center will depend on completing the gas well, with resource estimates still awaiting independent engineering. Alpha Compute plans to build a data center for Q1 2028, which could be powered by an estimated 100-200 MW of generation from initial gas production.