Maverick Energy Group, LTD Announcing Scheduling of First Well in Jones County Texas: 7/7/2021
Maverick Energy Group, Ltd. (OTCMKTS:MKGP) is set to commence operations on the Davis Lease Bonnie Davis #1 well in Jones County, Texas. Following the recent acquisition of this well, engineer Jason Lacewell confirmed the first completion will target the productive Flippen Lime zone, with two additional zones, the Saddle Creek Lime and Breckenridge Lime, also identified as potentially productive. The workover rig is expected to start operations within one to two weeks, with updates to shareholders on progress.
- Commencement of operations on the Davis Lease Bonnie Davis #1 well, indicating new growth potential.
- Identification of three productive zones (Flippen Lime, Saddle Creek Lime, Breckenridge Lime) offers multiple revenue streams.
- Dependence on rig availability for timely operations could lead to delays.
- Risks associated with the forward-looking statements and uncertainties in execution of the business strategy.
ST AUGUSTINE, FL / ACCESSWIRE / July 7, 2021 / James McCabe, President and CEO of Maverick Energy Group, Ltd. (OTCMKTS:MKGP) ("Maverick"), an independent oil and gas exploration company, announced today that Maverick is scheduling the commencement of operations on Maverick's 167-acre Davis Lease Bonnie Davis #1 well in Jones County, Texas.
Since Maverick's recent acquisition of the existing Bonnie Davis #1 well and lease, Maverick's engineer, Jason Lacewell, has been conducting a detailed review of the well's logs and other data. Based on the logs and the wellbore condition, Mr. Lacewell has confirmed that the first completion effort will be in the prolific Flippen Lime zone (which shows two separate productive lenses). In addition to the Flippen Lime zone, Mr. Lacewell has identified two other productive zones, the Saddle Creek Lime and the Breckenridge Lime, as potentially productive.
Today Maverick has instructed Mr. Lacewell to engage a workover rig to commence completion operations and, based on rig availability, Maverick expects to commence work in one to two weeks. Maverick will update shareholders with the progress of the Bonnie Davis #1 well as operations proceed.
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 potentialof 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, butare 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 meetthem, government agency rules and changes, and variousother factors beyond the Company's control.
CONTACT:
Maverick Energy Group, Ltd.
investors@maverickeg.com
SOURCE: Maverick Energy Group, Ltd.
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https://www.accesswire.com/654577/Maverick-Energy-Group-LTD-Announcing-Scheduling-of-First-Well-in-Jones-County-Texas-772021
FAQ
What is Maverick Energy Group's next operational step for MKGP?
When will Maverick Energy begin work on the Bonnie Davis #1 well?
What zones are being targeted in the Bonnie Davis #1 well by MKGP?
How does Maverick Energy plan to update shareholders?
