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Press release content from Accesswire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Accesswire
Press release content from Accesswire. The AP news staff was not involved in its creation.

Maverick Energy Group, LTD Announces Acquisition of Van Zandt County, Texas Lease: 8/26/2021

August 26, 2021 GMT
ST AUGUSTINE, FL / ACCESSWIRE / August 16, 2021 / James McCabe, President and CEO of Maverick Energy Group, Ltd. (OTCMKTS:MKGP) ("Maverick") announced today that Maverick has finalized the first stage of completion work on the Bonnie Davis #1 ...
ST AUGUSTINE, FL / ACCESSWIRE / August 16, 2021 / James McCabe, President and CEO of Maverick Energy Group, Ltd. (OTCMKTS:MKGP) ("Maverick") announced today that Maverick has finalized the first stage of completion work on the Bonnie Davis #1 ...
ST AUGUSTINE, FL / ACCESSWIRE / August 16, 2021 / James McCabe, President and CEO of Maverick Energy Group, Ltd. (OTCMKTS:MKGP) ("Maverick") announced today that Maverick has finalized the first stage of completion work on the Bonnie Davis #1 ...

ST AUGUSTINE, FL / ACCESSWIRE / August 26, 2021 / James McCabe, President and CEO of Maverick Energy Group, Ltd. (OTCMKTS:MKGP) (“Maverick”), an independent oil and gas exploration company, announced today that Maverick/USR has purchase a 25% Working Interest in the 480-acre Ben Hearne Lease in Van Zandt, Texas.

Included in the lease purchase is the Ben Hearne #1 well that has produced to date 2.72 billion cubic feet of gas and 16,888 barrels of oil. The well was shut in 2019 while making an average of 170 thousand cubic feet of gas per day and 1.5 barrels of oil per day. Maverick’s engineer, Jason Lacewell, believes by making some basic changes to the wells production equipment the well has the potential to produce substantially greater rates than when it was shut in.

Further attractive upside to the Ben Hearne #1 is that the well has never been fracked. Once the well has been returned to production, Maverick will decide whether fracking the well is appropriate to increase productive rates. In addition, Maverick’s engineer has identified good potentially productive zones both above and below the current producing zone that will be exploited later.

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Maverick expects to begin recompletion operations on the Ben Hearne #1 within the next couple of weeks, with first production expected within the next 30 days.

“Following Maverick’s business model of acquiring and developing low-cost reserves, Maverick expects to continue adding quality oil and gas producing assets like the Ben Hearne #1”, 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

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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 productmix, 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/661540/Maverick-Energy-Group-LTD-Announces-Acquisition-of-Van-Zandt-County-Texas-Lease-8262021