Business
Maverick Energy Group, LTD Reaches Milestone with Acquisition of 167 Acre Texas Lease: 6/21/2021
Maverick Energy Group, LTD Reaches Milestone with Acquisition of 167 Acre Texas Lease: 6/21/2021.
About this update from Maverick Energy Group, Ltd.
[{"type":"text","content":"ST AUGUSTINE, FL / ACCESSWIRE / June 21, 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 acquired the 167-acre Davis Lease in Jones County, Texas. The all-cash acquisition includes the Bonnie Davis #1 well which was recently drilled, logged, and cased to a depth of 3,150 feet. Maverick's Petroleum Engineer, Jason Lacewell, has identified three potentially commercially productive zones in the Bonnie Davis #1 Well. Maverick anticipates commencing operations to complete the Bonnie Davis #1 well in the first of the three targeted zones in the coming days.With the leadership of our engineer, Jason Lacewell, Maverick is building an impressive inventory of quality oil and gas prospects that are in line with Maverick's business model of developing proved resources with conventional vertical wells and using Maverick's USR Resources License for Ultra Short Radius Horizontal Drilling. "With that in mind and all previous corporate actions taken over the past 18 months have led us to this transformative moment in our Company's history," commented James McCabe. He continued, "with the 3rd quarter just around the corner, we believe it is positioning to be our breakout quarter, with revenue and expanding drilling operations."Maverick will update shareholders with the progress of the Bonnie Davis #1 well and several other drilling opportunities being currently finalized. In addition, as each well comes into production and stabilized Maverick will publish production rates for shareholder evaluation.About Maverick Energy GroupMaverick 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.comSafe Harbor StatementThis release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these state...