MDM Permian, Inc. (Symbol: MDMP) Acquires a 90% working interest in a 640-Acre Lease in the East Texas Basin

Rhea-AI Summary

MDM Permian, Inc. has acquired a 90% working interest in a 640-acre lease in East Texas, strengthening its position in the energy industry. The move aligns with the company's focus on production efficiency and resource utilization.

Positive

• MDM Permian, Inc. has strengthened its position in the energy industry with the acquisition of a 90% working interest in a 640-acre lease in East Texas.
• The strategic move aligns with the company's focus on maximizing production efficiency and optimizing resource utilization.

Negative

• None.

DALLAS, TX / ACCESSWIRE / June 29, 2023 / MDM Permian, Inc. (OTC PINK:MDMP) has announced its acquisition of a 90% working interest in a 640-acre lease in East Texas. This strategic move allows the oil and gas exploration and production company to strengthen its position in the energy industry.

This initiative aligns with the company's focus on maximizing production efficiency, optimizing resource utilization, and contribute to U.S. energy independence.

"We are thrilled to announce the acquisition of this 90% working interest in a 640-acre lease in the East Texas Basin," said Mark T. Warner, new President and CEO at MDM Permian, Inc. "This investment exemplifies our constant commitment to delivering value to our stockholders and investors holding working interests. It also upholds the highest standards of operational excellence and environmental stewardship."

East Texas is a prolific energy hub, boasting a rich history of oil and gas exploration. The region's favorable geology, coupled with favorable regulatory and business environments, make it an ideal location for MDM Permian to expand its operations.

About MDM Permian, Inc. (MDMP). MDM Permian, Inc. is an emerging oil and gas exploration and production company committed to delivering sustainable energy solutions. With a focus on responsible resource extraction, operational excellence, and environmental stewardship, MDM Permian, Inc. aims to meet the growing energy demands while minimizing its ecological footprint. The company's diverse portfolio spans across multiple regions, driving economic growth and creating value for its stockholders and stakeholders.

For media inquiries, contact:

Rachel D. Green
V.P. Investor Relations
469-252-3603
rgreen@mdmpermian.com

SOURCE: MDM Permian, Inc.

View source version on accesswire.com:
https://www.accesswire.com/764623/MDM-Permian-Inc-Symbol-MDMP-Acquires-a-90-working-interest-in-a-640-Acre-Lease-in-the-East-Texas-Basin

FAQ

What is the recent acquisition by MDM Permian, Inc.?

MDM Permian, Inc. has acquired a 90% working interest in a 640-acre lease in East Texas.

What is the purpose of the acquisition?

The acquisition is aimed at strengthening MDM Permian, Inc.'s position in the energy industry and maximizing production efficiency.

Why is East Texas considered an ideal location for MDM Permian, Inc.?

East Texas is known for its favorable geology, regulatory environment, and business opportunities in the oil and gas exploration sector.