Metawells Oil & Gas Appoints New Board President and Finalizes South Plains Petroleum Acquisition

Metawells Oil & Gas Inc. has announced two major corporate developments that signal a new phase of strategic growth for the development-stage energy company. The company appointed Stefanos Kalogirou as President of the Board of Directors and finalized its acquisition agreement with South Plains Petroleum Inc., marking significant steps in the company's expansion plans.

Kaligirou brings over twenty years of experience in project management and strategic planning to his new role, having previously led large-scale projects throughout his career. He succeeds Ronald Minsky, who resigned from the position but will continue serving the company as a senior advisor and consultant. Kalogirou's appointment comes at what he described as a pivotal time for the company, with his background positioning him to advance Metawells' strategic roadmap through disciplined execution and pursuit of new opportunities.

The acquisition of South Plains Petroleum represents what company leadership calls a transformative step for Metawells. South Plains holds multiple properties in strategic energy regions, including assets in the Eastern Permian Basin of Texas and onshore Louisiana near the Gulf Coast. These properties contain significant proven oil and gas reserves that are ready for development, providing Metawells with immediate operational opportunities and expanded resource access.

According to company statements, the integration of South Plains' assets will strengthen Metawells' portfolio and accelerate the company's path toward operational expansion. The acquisition follows several months of negotiations and due diligence between the two companies, culminating in a finalized agreement that positions Metawells for enhanced growth potential in competitive energy markets.

These developments are particularly significant for investors and industry observers tracking the evolution of development-stage energy companies. The combination of new leadership with extensive project management experience and the acquisition of proven reserves through South Plains Petroleum https://www.southplainspetroleuminc.com creates a foundation for accelerated growth and operational scale. The Eastern Permian Basin and Gulf Coast regions represent some of the most productive energy areas in North America, making this acquisition strategically important for Metawells' long-term positioning in the sector.

The company has indicated that further updates regarding leadership initiatives and the South Plains integration will be provided in subsequent announcements as the company moves forward with its expanded operational capabilities and strategic direction under new board leadership.