Maverick Energy Group Ltd. to Assess Assets in Latest Permian Basin Acquisition, Open Offices in Midland & Kermit Texas February 22, 2022
Maverick Energy Group, Ltd. (OTC PINK:MKGP) announced the commencement of operations in Midland, Texas, following its acquisition of Hard Rock O&G assets in the Permian Basin. The acquisition encompasses 16,360 acres with 233 wells, marking a significant expansion for Maverick's operations. The company plans to assess the wells, identify productive ones, and evaluate oil volume for immediate sale. This initiative aims to restore Maverick's footprint in the region to commercial production, positioning the company for potential growth.
- Acquisition of 16,360 acres and 233 wells in the Permian Basin enhances growth potential.
- Operational commencement in Midland and Kermit indicates strategic expansion.
- Plans to identify productive wells may lead to increased revenue generation.
- None.
ST AUGUSTINE, FL / ACCESSWIRE / February 22, 2022 / James McCabe, President and CEO of Maverick Energy Group, Ltd. (OTC PINK:MKGP) ("Maverick"), an independent oil and gas company, announced today that Maverick has sent its representative to Midland, Texas to coordinate the commencement of operations.
This week Maverick will be in Midland, Texas to coordinate the commencement of operations of Maverick's acquisition of Hard Rock O&G assets in the Permian Basin. As previously announced, the 16,360 acre, 233 well acquisition will serve as a core area for Maverick's Permian basin operations.
Maverick will review the opening of both the Midland and Kermit offices and identify the exact amount of oil now on Maverick's leases that can be sold immediately. Time will be spent with the seller's representatives identifying the most productive of the 233 wells to first put back online and what needs to be done to each well. All wells and leases will be inspected, and notations made of their status. The operating commercial well will be visited and all aspects of its current operations and finances reviewed.
This is an exciting week for Maverick as it begins the process of bringing Maverick's substantial footprint in the Permian Basin back into commercial production.
About Maverick Energy Group
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, all as set forth in the risk factors stated in Maverick's Regulation A offering statement on Form 1-A.
CONTACT:
Maverick Energy Group, Ltd.
investors@maverickeg.com
SOURCE: Maverick Energy Group, Ltd.
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https://www.accesswire.com/689819/Maverick-Energy-Group-Ltd-to-Assess-Assets-in-Latest-Permian-Basin-Acquisition-Open-Offices-in-Midland-Kermit-Texas-February-22-2022
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