Welcome to our dedicated page for Maverick Energy news (Ticker: MKGP), a resource for investors and traders seeking the latest updates and insights on Maverick Energy stock.
Maverick Energy Group Ltd (MKGP) is an energy sector company focused on optimizing oil and gas production through strategic well recompletions. This page provides investors with official updates on operational milestones, including progress at the Bonnie Davis #1 well in Jones County, Texas, and partnership activities with Trenergy.
Access timely updates on MKGP's production targets, infrastructure developments, and collaborative projects. Key coverage areas include Penn Lime interval completions, operational efficiency improvements, and resource optimization strategies. All content is sourced from company filings and verified industry channels.
Bookmark this page for centralized access to MKGP's latest operational updates and strategic announcements. Check regularly for new developments impacting energy production capabilities and partnership outcomes in the Permian Basin region.
Maverick Energy Group, Ltd. (OTC PINK: MKGP) has completed the acquisition of Pass Creek Resources, LLC for 60 million restricted shares. Pass Creek owns a 100% working interest and a 77.5% net revenue interest in the Adena Oil and Gas Field in Colorado, one of the state's largest oil fields. The field has produced 74 million barrels of oil and 127 billion cubic feet of gas. It is estimated to hold 20 to 50 million barrels of recoverable oil, generating approximately $100,000 in monthly revenue. This acquisition marks Maverick's first producing property, expected to enhance cash flow and growth potential.
Maverick Energy Group (OTC PINK:MKGP) announced a Participation Agreement to recomplete three existing wells in Gonzales and Lee County, Texas. Maverick will fund 100% of the recompletion costs and retain a 75% working interest. The first well, previously producing around 10 barrels of oil, is expected to significantly increase production following a new horizontal drilling. The project aims to establish a core area for Maverick at a lower cost than traditional methods, avoiding dilution of shares. A larger acquisition project will be announced soon.
Maverick Energy Group, Ltd. (OTC PINK: MKGP) announced the formation of a new Technical Advisory Board, enhancing its leadership team with the inclusion of Eldar Hasanov. Mr. Hasanov, who joins Neville Henry and Hugh Idstein, brings over 25 years of expertise in exploration and development geology. His background includes a Master of Science in Petroleum Geology and extensive skills in applied basin modeling and 3D structural mapping. This strategic move aims to direct Maverick towards profitable energy projects and strengthen its competitive position.
Maverick Energy Group (OTC PINK:MKGP) has established a Technical Advisory Board to enhance its operations in the energy sector. The board features Mr. Hugh Idstein, a seasoned financial executive, known for his tenure as CFO at Blackstone Minerals and other companies in the E&P niche. His expertise will aid in preparing Maverick's financials for PCAOB auditing and in finalizing its 15C-211 filings. Upcoming announcements will reveal additional board members with relevant industry experience, aimed at positioning Maverick for successful growth.
Maverick Energy Group (OTCMKTS:MKGP) announced the execution of a Letter of Intent to acquire oil and gas assets in Marion and Cass Counties, Texas. This acquisition includes 22 wellbores, surface and sub-surface equipment, and approximately 4,000 net mineral acres, with current production of 18 barrels of oil and 165 MCF of gas daily. Maverick plans to pay $1 million via a corporate promissory note, a 5% interest in net monthly revenues, and 1 million shares of common stock. The deal aims to enhance cash flow and increase production through advanced recovery technologies.
Maverick Energy Group (OTC PINK:MKGP) has initiated the recompletion work on the Haggard B #1 well in Marion County, Texas. This project is part of a broader plan involving five wells, where Maverick will hold a 50% working interest and act as the operator. Currently, the Haggard B #1 produces around 180,000 cubic feet of gas and 2 barrels of condensate daily, with expectations to double this output post-recompletion. CEO James McCabe anticipates significant cash flow improvements from this venture.
Maverick Energy Group (OTC PINK:MKGP) has signed an agreement to complete and recomplete five wells in Cass and Marion County, Texas. Maverick will bear the costs and gain a 50% interest in three producing wells and a 70% interest in uncompleted wells. Initial production from the first two wells is around 180,000 cubic feet of gas and 10 barrels of condensate daily, with potential increases to 700,000 cubic feet and 50 barrels respectively. Maverick expects to commence work immediately, aiming to enhance production significantly from the Cotton Valley Formation.
Maverick Energy Group (OTC PINK:MKGP) announced that the gas sales line for its Edwards #1 and Hearne #1 wells in Van Zandt County, Texas, has resumed operations after nearly seven months of repairs. The company plans to complete work on both wells, aiming to restore production to approximately 200 thousand cubic feet of gas daily from each well within three weeks. Maverick holds a 25% interest in each well, indicating a collaborative effort with partners.
