MAVERICK ENERGY GRP LTD - MKGP STOCK NEWS

Maverick Energy Group (OTCMKTS:MKGP) announced the successful completion of an onsite review of its Permian Basin assets from February 24-26, 2022. The inspection revealed that the production facilities in Glasscock and Howard Counties, Texas, are in good condition, with most wells ready for production. Additionally, Maverick's Pecos County leasehold displays strong well pressure. The company is also considering adding personnel for administrative operations. Furthermore, a saltwater disposal facility was found to be in excellent condition, capable of handling 10,000 barrels per day.

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.

Maverick Energy Group (OTCMKTS:MKGP) has announced the opening of a new office in Midland, Texas, following its acquisition of Hard Rock O&G assets in the Permian Basin. The office will operate as the center for operations in this key area. Maverick's recent acquisition includes over 16,360 acres, 233 shut-in wells, and a profitable saltwater disposal facility. The company aims to restore production from the shut-in wells and explore further drilling opportunities. This strategic move could significantly enhance its oil production capabilities.

Maverick Energy Group (OTCMKTS:MKGP) announced a significant acquisition in the Permian Basin of West Texas, comprising over 16,360 acres and 233 shut-in wells. The company paid 23 million restricted shares for the assets, which previously produced 310 barrels of oil and 137,000 cubic feet of gas per day. Maverick anticipates potential significant production increases by bringing these shut-in wells back online, exploring undeveloped locations, and expanding operations in the area.

Maverick Energy Group (OTCMKTS:MKGP) announced the completion of the Ben Hearne #1 well in Texas, which is connected to the sales line and ready for gas delivery. Gas sales will commence once XTO, the gas purchaser, resumes operations. Previously, the well produced 200,000 cubic feet of gas and 3 barrels of oil per day. The company anticipates achieving similar production levels post-rework. Maverick focuses on crude oil and natural gas acquisition and development, leveraging proprietary enhancement technologies.

Maverick Energy Group (OTCMKTS:MKGP) continues developing its oil and gas wells in Van Zandt County, Texas, as announced by CEO James McCabe. The Hearne #1 well is currently producing approximately 2.5 barrels of oil per day while awaiting a gas line hookup. The Edwards #1 well is underway with surface equipment installation. The Drabeck #1 produces between 2.5 and 5 barrels of oil daily, with plans for an upper zone completion. The Bonnie Davis #1 well is shut in for potential increased production.

Maverick Energy Group continues work on its Ben Hearne #1 and Edwards #1 wells in Van Zandt County, Texas, with depths of 9,540 and 9,573 feet respectively. Maverick holds a 25% working interest in both wells. Operations are set to complete in the next 30 days, leading to anticipated gas sales in early Q1 2022. According to CEO James McCabe, these developments align with the company's strategy of acquiring and developing low-cost reserves. This update highlights Maverick's ongoing commitment to enhancing production capabilities.

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.

Maverick Energy Group (OTC PINK:MKGP) has commenced operations on a 25% interest in the 480-acre Ben Hearne Lease in Van Zandt, Texas. The company's petroleum engineer, Jason Lacewell, has initiated site work for the Ben Hearne #1 well and anticipates a workover rig on location within five to seven days. Following workover procedures expected to last about seven days, natural gas production is anticipated to start immediately. Additionally, operations are set to resume on the Bonnie Davis #1 well in Jones County, Texas, pending rig availability.