MDM Permian, Inc. (Symbol:MDMP) Announces Strategic Acquisitions and Strengthened Management

Rhea-AI Summary

MDM Permian, Inc. announces significant acquisitions and expansion into the energy sector.

Positive

• MDM Permian has acquired over 4,300 acres in productive formations, demonstrating its commitment to revenue generation.
• The company has secured a 55% working interest in a 3,700-acre oil and gas lease in the East Texas basin, showcasing its determination to explore opportunities.
• MDM Permian has also secured a 28.125% working interest in a 685.46-acre gas lease in the Paluxy formation, known for its gas-rich resources.

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• None.

DALLAS, TX / ACCESSWIRE / August 23, 2023 / MDM Permian, Inc. (OTC PINK:MDMP) is proud to unveil the latest developments that underline its commitment to growth and excellence. Under the leadership of its new management, the company has successfully secured significant working interests in prime assets, reinforcing its foothold in the energy market.

"The recent acquisitions of over 4,300 acres in multiple productive formations showcase MDM's continuing commitment to acquire assets with potential to generate significant revenue for the company," said Mark T. Warner, President and CEO at MDM Permian, Inc. "It furthers our goal to drive value for our stockholders and stakeholders."

Expansion into East Texas Basin

MDM Permian Inc has acquired a 55% working interest in a substantial 3700-acre oil and gas lease located in the East Texas basin. This strategic move demonstrates the company's determination to explore and exploit promising opportunities within the energy sector. The lease boasts a network of 14 wells that will be subject to comprehensive reworking across multiple pay zones.

Paluxy Formation Gas Lease Acquisition

MDM Permian Inc has also successfully secured a 28.125% working interest and net revenue interest in a 685.46-acre gas lease situated in the Paluxy formation within the East Texas basin. The Paluxy formation is renowned for its gas-rich resources, and MDM is poised to harness this potential for long-term growth.

About MDM Permian Inc

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

Safe Harbor Act: This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involves risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic business conditions and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements to reflect events or circumstances that may arise after the date of this release.

SOURCE: MDM Permian, Inc.

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