ST AUGUSTINE, FL / ACCESSWIRE / January 27, 2022 / James McCabe, President and CEO of Maverick Energy Group, Ltd. (OTCMKTS:MKGP) ('Maverick'), an independent oil and gas company, announced today that work has been completed on the Ben Hearne #1 well in Van Zandt County, Texas.
The Hearne #1 well has now been hooked into the sales line ready to deliver gas. Gas will be sold to XTO and transported through XTO's gathering system to Atmos main transportation line. The XTO gathering system is currently shut in while XTO completes their refrigeration plant to strip liquids from the natural gas before sales to Atmos. Once XTO resumes gas sales to Atmos, Maverick will be able to begin gas sales.
When the previous operator shut in the Hearne #1 well, production was reported to be 200,000 cubic feet of gas a day and 3 barrels of oil per day. Now that Maverick and partners have reworked the well, expectations are that similar production levels can be achieved.
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.
Maverick Energy Group, Ltd.
SOURCE: Maverick Energy Group, Ltd.
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