Maverick Energy Group, Ltd. Announces Option to Purchase Big Foot Field: 10/13/2020
Maverick Energy Group (OTC PINK:MKGP) has secured a six-month option to purchase the Big Foot Field, a 6,800-acre site in Texas, from DESMDX. This field has historically produced 30 million barrels of oil from over 200 million barrels in place and currently yields about 100 barrels of oil per day. During the option period, Maverick will conduct engineering and geological evaluations. CEO James McCabe emphasized the opportunity this project presents for the company, leveraging their experience in drilling.
- Secured a six-month option to purchase the 6,800-acre Big Foot Field.
- Historically produced 30 million barrels of oil, indicating high potential.
- Currently producing approximately 100 barrels of oil per day.
- Possibility of recompletion and new drilling opportunities in the field.
- None.
ST AUGUSTINE, FL / ACCESSWIRE / October 13, 2020 / Maverick Energy Group, Ltd. (OTC PINK:MKGP) is happy to announce it has secured a six (6) month option to purchase the 6,800-acre Big Foot Field in Frio and Atascosa County Texas from DESMDX. The Big Foot Field, formerly discovered and developed by Shell Oil, has produced 30 million barrels of over 200 million barrels of oil in place. The Big Foot Field currently produces approximately 100 barrels of oil a day and has many recompletion and new drilling opportunities available. During the option period, Maverick will conduct extensive due diligence involving engineering and geological evaluations.
"Maverick Energy Group, Ltd. is currently an operator of the Big Foot Field, and with our extensive experience in horizontal and ultra short radius drilling, this project represents a tremendous opportunity for Maverick," CEO James McCabe said.
Maverick Energy Group, Ltd. FORWARD-LOOKING STATEMENTS
This press release contains statements that the Company believes to be "forward-looking statements" within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than historical facts, including, without limitation, statements regarding the investment offerings and the terms thereof, are forward-looking statements. When used in this press release, words such as we "expect", "intend", "plan", "estimate", "anticipate", "believe", "should", or the negative thereof or similar terminology are generally intended to identify forward-looking statements. Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in, or implied by, such statements. Investors should not place undue reliance upon forward-looking statements. The Company disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
Further details are available at https://maverick-energy.com.
Maverick Energy Group, LTD
Signed: "James McCabe"
James McCabe, CEO and Director
mkgpinquiries@gmail.com
(800) 674-6341
SOURCE: Maverick Energy Group, Ltd.
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https://www.accesswire.com/610148/Maverick-Energy-Group-Ltd-Announces-Option-to-Purchase-Big-Foot-Field-10132020
FAQ
What is the significance of Maverick Energy Group's option on the Big Foot Field (MKGP)?
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