$MDMP September Update News Link: https://www.o
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Posted On: 09/14/2021 10:38:12 AM
$MDMP September Update
News Link: https://www.otcmarkets.com/otcapi/company/dns...89/content
Carrollton, Texas, September 9th, 2021, MDM Permian Inc. (OTCPK: MDMP) today has announced continued good news and advances in our overall business plan in the Permian Basin.
MDM Permian has just completed a 4-year focused study, on a 24 sq. mile area in the Permian Basin. There are several over-looked targets in this area that have been identified, including the San Angelo, Clear Fork, Wichita Albany, Dean Wolfcamp and Canyon Sands formations. Third party engineers have confirmed an estimated 84 million barrels of producible oil in place from all sections combined. At today’s prices, this area has an estimated value of as much as $5b in undiscounted future revenues at current prices. The company plans to drill only vertical wells that are low risk and cost as compared to horizontal wells (HZ). It estimated Lease Operating Cost (LOE) is $8.00 per BOE-on risk adjusted return.
The Company is now planning to go into the drilling and development phase.
News Link: https://www.otcmarkets.com/otcapi/company/dns...89/content
Carrollton, Texas, September 9th, 2021, MDM Permian Inc. (OTCPK: MDMP) today has announced continued good news and advances in our overall business plan in the Permian Basin.
MDM Permian has just completed a 4-year focused study, on a 24 sq. mile area in the Permian Basin. There are several over-looked targets in this area that have been identified, including the San Angelo, Clear Fork, Wichita Albany, Dean Wolfcamp and Canyon Sands formations. Third party engineers have confirmed an estimated 84 million barrels of producible oil in place from all sections combined. At today’s prices, this area has an estimated value of as much as $5b in undiscounted future revenues at current prices. The company plans to drill only vertical wells that are low risk and cost as compared to horizontal wells (HZ). It estimated Lease Operating Cost (LOE) is $8.00 per BOE-on risk adjusted return.
The Company is now planning to go into the drilling and development phase.
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