ST AUGUSTINE, FL / ACCESSWIRE / February 10, 2022 / James McCabe, President and CEO of Maverick Energy Group, Ltd. (OTCMKTS:MKGP) (“Maverick”), an independent oil and gas company, announced today that Maverick has opened an office in Midland, Texas.
In conjunction with Maverick’s purchase of certain Hard Rock O&G assets in the Permian Basin, (See previous press release reprinted below), Maverick is pleased to announce the opening of its office in Midland, Texas. Maverick’s office is in the Hard Rock O&G building located at 4310 South Highway 349 Midland, Texas 79706. This office will serve as the operations center for Maverick’s core areas in the Permian Basin. The previous news release of the Hard Rock acquisition follows in quotes.
“The assets that were acquired by Maverick consist of a 100% working interest in over 16,360 acres (10,000 acres being contiguous), 233 shut-in wells, a profitable, active commercial saltwater disposal and freshwater sales facility, an office in downtown Midland and additional support facilities. Prior to the wells being shut-in, seller’s records show production of 310 barrels of oil per day and 137,000 cubic feet of gas a day. In addition, records of the seller show a multi-day well test of a recently completed deeper well flowing at more than 300 barrels of oil per day prior to shutting in the field.”
“Maverick paid the seller 23 million restricted shares of its common stock. Maverick believes that this purchase has the potential of significant production of oil based upon the shut-in wells being returned to production, the large inventory of proved but undeveloped locations to drill, behind pipe zones to exploit, deep zones of interest and opportunities to expand operations from this core area.”
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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