Maverick Energy Group, Ltd. Announces the Beginning of Well Rework Operations on the Hearne #1 Well in Van Zandt County, Texas Lease: 9/28/2021
Maverick Energy Group (OTC PINK:MKGP) has commenced reworking operations on its 25% ownership interest in the Ben Hearne #1 Lease in Van Zandt, Texas. President and CEO James McCabe announced the initiation of these operations with a workover rig on site. Designed by petroleum engineer Jason Lacewell, the recompletion procedures aim to enhance production once downhole work is complete. Additionally, operations on the Bonnie Davis #1 well have faced a delay. Maverick plans to bring online several wells in Q4 2021 as part of its strategy to develop low-cost reserves.
- Initiation of reworking operations on the Ben Hearne #1 Lease.
- Petroleum engineer overseeing operations indicates strong technical management.
- Plans to bring multiple wells online in Q4 2021 could boost production.
- Delay in commencing operations on the Bonnie Davis #1 well.
- Potential risks associated with execution of business strategy and external factors.
ST. AUGUSTINE, FL / ACCESSWIRE / September 28, 2021 / James McCabe, President and CEO of Maverick Energy Group, Ltd. (OTC PINK:MKGP) ("Maverick"), an independent oil and gas exploration company, announced today that Maverick has a workover rig on location and has begun reworking operations on its
Maverick's petroleum engineer, Jason Lacewell has designed the recompletion procedures on the Ben Hearne #1 well and is overseeing all operations. Once downhole operations are completed, new surface equipment will be installed to begin oil and gas production.
We expected to have a rig on the Bonnie Davis #1 in Jones County, Texas this week to finish downhole operations. Due to availability, this has been postponed at least a few days.
"Following Maverick's business model of acquiring and developing low-cost reserves, the Ben Hearne #1 is the second in a series of wells that Maverick expects to bring online in the fourth quarter of 2021," said James McCabe, CEO of Maverick Energy Group, Ltd.
About Maverick EnergyGroup
Maverick Energy Group LTD is a crude oil and natural gas acquisition, production, exploration, and horizontal drilling development company focusing on select areas of North America. Maverick believes that its access to patented and proprietary horizontal production enhancement technologies facilitates the rapid accumulation of valuable oil and gas assets, while at the same time greatly improving the rate of production and lifetime potential of these properties.
Company Website: www.maverickeg.com
Safe Harbor Statement
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by the use of the words "may," "will," "should," "plans," "expects," "anticipates," "continue," "estimates," "projects," "intends," and similar expressions. Forward-looking statements involve risks and uncertainties that could cause results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, the Company's ability to successfully execute its expanded business strategy, including by entering into definitive agreements with suppliers, commercial partners, and customers; general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing various engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technical advances and delivering technological innovations, shortages in components, production delays due to performance quality issues with outsourced components, regulatory requirements, and the ability to meet them, government agency rules and changes, and various other factors beyond the Company's control.
CONTACT:
Maverick Energy Group, Ltd.
investors@maverickeg.com
SOURCE: Maverick Energy Group, Ltd.
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FAQ
What recent operations has Maverick Energy Group (MKGP) started?
Why was the Bonnie Davis #1 well operation postponed?
What is Maverick Energy Group's plan for Q4 2021?
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