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
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Maverick Energy Group, Ltd.
SOURCE: Maverick Energy Group, Ltd.