$MDMP MDM Permian, Inc. - Permian Basin Acquisitio
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Posted On: 07/16/2021 9:52:21 AM
$MDMP MDM Permian, Inc. - Permian Basin Acquisitions Continue
https://www.globenewswire.com/news-release/20...tinue.html
Carrollton, Texas, July 16, 2021 (GLOBE NEWSWIRE) -- MDM Permian Inc. (OTC Pink: MDMP) continues to add acreage in the Southern Midland Basin and the Ft. Worth Basin, as WTI holds in the $75. per barrel range.
MDM Permian, Inc. today announced the coming acquisition of up to 8 more wells in the Irion County area of interest. The acquisitions are being secured from local operators.
The purchase of 6 wells on 3 leases, all producing from Canyon Sands with behind pipe potential, is in the final stages of negotiations.
“This will be a significant addition for us, as it brings additional acreage for future drilling as well as the producers for revenue stream.” stated Michael Rafael, President and CEO of the company.
Also in the final stages of closing is a package of 2 wells, one producing from San Angelo sands and one disposal well.
“The real value of this deal comes from the potential to add a full section of acreage, with proven reserves, to our inventory,” added Mr. Rafael.
https://www.globenewswire.com/news-release/20...tinue.html
Carrollton, Texas, July 16, 2021 (GLOBE NEWSWIRE) -- MDM Permian Inc. (OTC Pink: MDMP) continues to add acreage in the Southern Midland Basin and the Ft. Worth Basin, as WTI holds in the $75. per barrel range.
MDM Permian, Inc. today announced the coming acquisition of up to 8 more wells in the Irion County area of interest. The acquisitions are being secured from local operators.
The purchase of 6 wells on 3 leases, all producing from Canyon Sands with behind pipe potential, is in the final stages of negotiations.
“This will be a significant addition for us, as it brings additional acreage for future drilling as well as the producers for revenue stream.” stated Michael Rafael, President and CEO of the company.
Also in the final stages of closing is a package of 2 wells, one producing from San Angelo sands and one disposal well.
“The real value of this deal comes from the potential to add a full section of acreage, with proven reserves, to our inventory,” added Mr. Rafael.
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