ST AUGUSTINE, FL / ACCESSWIRE / September 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 commenced operations on its 25% ownership Interest in the 480-acre Ben Hearne Lease in Van Zandt, Texas.
Maverick's petroleum engineer, Jason Lacewell, has begun site work on the Ben Hearne #1 well in preparation for moving a workover rig on location. Depending on continued rig availability, Maverick expects a rig should be on location in the next five to seven days. Once a rig is on location, Maverick expects workover procedures to take approximately seven days. When workover procedures are complete, Maverick expects production, which will be mostly natural gas, to begin immediately.
Further activity is expected on Maverick's Bonnie Davis #1 well in Jones County, Texas. For the past couple of weeks Maverick has been waiting on rig availability to finalize completion operations. It is expected that a rig will be available within the week and allow Maverick to finalize the last stages of initial recompletion.
"Following Maverick's business model of acquiring and developing low-cost reserves, Maverick expects to continue bringing quality oil and gas assets into production", said James McCabe, CEO of Maverick Energy Group, Ltd.
About Maverick EnergyGroup
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, butare 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.
investors@maverickeg.com
SOURCE: Maverick Energy Group, Ltd.
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https://www.accesswire.com/665024/Maverick-Energy-Group-LTD-Announces-Commencement-of-Operations-of-Van-Zandt-County-Texas-Lease-9212021
