Energy & Mining

Converde Energy USA Inc (OTCMKTS:XFUL)

Converde Energy USA Inc (OTCMKTS:XFUL)

Converde Energy USA Inc (OTCMKTS:XFUL) shares are up over 15% on heavy volumes. XFUL shares have a 30-day average daily trading volume of 848,017 but by 10:30 AMEST over 6.8 million shares have traded. A review of the company’s website showed no press releases which may account for today’s strong market activity.

[Investors may be confused as to which entity is represented by ticker symbol XFUL. American Energy Partners acquired the assets of Converde Energy USA Inc (OTCMKTS:XFUL) at the beginning of 2017 and has changed the name to American Energy Partners at the state level; however FINRA documentation is still in the pipeline. For the purposes of this story we will use Converde as it is the brand associated, currently, with ticker symbol XFUL by financial data providers.]

American Energy Partners  is a holding company for a group of companies that provide solutions in the space where energy production and water meet technology. Under this corporate umbrella are American Energy Solutions (formerly Converde), Gilbert Oil & Gas Company, and Hydration Company of Pennsylvania. These companies engage design, build, and operate energy production systems, water remediation, and regional water treatment facilities that serve the industrial, energy, and government sectors.

American Energy Solutions is an industrial waste stream treatment company that remediates Superfund sites, coal ash, acid mine drainage, drill cuttings and other operations. Converde Energy USA Inc (OTCMKTS:XFUL) also owns Gilbert Oil & Gas Company. Gilbert is involved in more traditional U.S. based oil and gas exploration and production. The Hydration Company of Pennsylvania (HCPA) provides solutions to companies in need of water, water exploration, augmentation, and the treatment of impacted waters. They design, build and operate regional water treatment facilities. HCPA’s IP delivers one of the highest energy yields from a broad range of water-bearing assets, with one of the lowest capital expenditures of any other known water processes.

On April 18, 2017, Converde Energy USA Inc (OTCMKTS:XFUL) announced that it had entered into a contract and partnered with the Eastern Pennsylvania Coalition for Abandoned Mine Reclamation to engage the Susquehanna River Basin Commission in a multi-phase study of the Mocanaqua Abandoned Mine Drainage Tunnel. This project, if successful, may lead to the supply of millions of gallons of treated mine influenced water during low flow conditions into the local watershed that feeds the Susquehanna River (Pennsylvania).

Mr. Domitrovitsch is the Chairman of Converde Energy USA Inc (OTCMKTS:XFUL). Prior to his role at AEPI he was the President of a recycling company servicing the Northeast market.  Mr. Domitrovitsch grew that company into a multi-million dollar business and successfully exited his firm to form AEPI. Mr. Domitrovitsch holds a B.S. in Economics and obtained his MBA from Moravian College.

I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 96 hours. All information, or data, is provided with no guarantees of accuracy.

About the author: James Marion is a University of Houston student studying Business with a concentration in Finance

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James Marion is a University of Houston student studying Business with a concentration in Finance. James has interned with several investment professionals and hopes to pursue a career as a professional stock analyst after graduation.

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