ACCESS Newswire
24 Nov 2021, 00:01 GMT+10
ST AUGUSTINE, FL / ACCESSWIRE / November 23, 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 work continues on Maverick's Ben Hearne #1 well at a depth of 9,540 feet on a 460-acre Lease and Maverick's Edwards #1 well at a depth of 9,573 feet on a 760-acre lease in Van Zandt County, Texas. Maverick has a 25% working interest in both wells.
Maverick's petroleum engineer, Jason Lacewell, who is leading the recompletion operations, expects to complete reequipping the wells with surface equipment, laying electric lines, and finalizing gas contracts all within the next thirty days. Once the recompletion operations are finalized Maverick expects first gas sales to begin early in the first quarter of 2022.
'Following Maverick's business model of acquiring and developing low-cost reserves, the Ben Hearne #1 and Edwards #1 wells are the second and third in a series of wells that Maverick expects to bring online in the fourth quarter of 2021 and first quarter of 2022,' said James McCabe, President and CEO of Maverick Energy Group, Ltd.
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.
CONTACT:
Maverick Energy Group, Ltd.
[email protected]
SOURCE: Maverick Energy Group, Ltd.
Get a daily dose of Memphis Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Memphis Sun.
More InformationMOSCOW, Russia: Just hours after his sudden dismissal by President Vladimir Putin, Russia's former transport minister, Roman Starovoit,...
DHARAMSHALA, India: The Dalai Lama turned 90 on July 6, celebrated by thousands of followers in the Himalayan town of Dharamshala,...
ZAGREB, Croatia: A massive concert by popular Croatian singer Marko Perković, known by his stage name Thompson, has drawn widespread...
WASHINGTON, D.C.: Elon Musk's entry into the political arena is drawing pushback from top U.S. officials and investors, as his decision...
CULVER CITY, California: TikTok is preparing to roll out a separate version of its app for U.S. users, as efforts to secure a sale...
WASHINGTON, D.C.: President Donald Trump claimed he was unaware that the term shylock is regarded as antisemitic when he used it in...
LONDON, U.K.: This week, BP appointed Simon Henry, former Shell finance chief, to its board as a non-executive director effective September...
OTTAWA, Canada: With Canada Post struggling to maintain operations amid labour unrest, rivals like FedEx and UPS are stepping in to...
NEW YORK, New York - U.S. and global markets showed a mixed performance in Tuesday's trading session, with some indices edging higher...
PARIS, France: French military and intelligence officials have accused China of orchestrating a covert campaign to damage the reputation...
NEW DELHI, India: Birkenstock is stepping up its efforts to protect its iconic sandals in India, as local legal representatives conducted...
HONG KONG: China has fired back at the European Union in an escalating trade dispute by imposing new restrictions on medical device...