$MDMP MDM PERMIAN FILES FOR DRILLING PERMITS AND B
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Posted On: 10/12/2021 1:58:03 PM
$MDMP MDM PERMIAN FILES FOR DRILLING PERMITS AND BEGINS PRE-DRILLING FIELD ACTIVITY
News Link: https://www.otcmarkets.com/otcapi/company/dns...75/content
MDM Permian, Inc. today announced the staking of the Brown #2 well in Nolan County, Texas. “Our company owns all of the undeveloped acreage on the Brown Lease, and we are ready to drill our first well as an offset to the Brown # 1. We will be completing the Brown #1 for our partner, OKET Blackwater, LLC. The completion will be in the Strawn, over the next few weeks. MDM Permian, Inc. owns a 1/8th carried W.I. interest in the well.” States Michael Rafael, President. “Our geologist, Bruce Swartz thinks highly of the area as we are on strike for both Ellenburger and Strawn.”
WTI oil is holding at the $80. Per barrel price. Last week the company sold oil on 2 of its Irion County projects, Lindley and Oglesby. The Wise County project, Kew-Peacock #1 continues to sell gas into the $6.00 market.
MDM Permian, Inc. has been assessing several producing properties that have both behind pipe potential and drillable acreage. Financing for these projects is secured and bids are being submitted for the projects deemed most cost effective. These projects could add as much as 500 BOPDE prior to reworking and drilling of new wells. “Our team has been working diligently for months to find the right projects that will help grow our footprint in the Permian Basin,” continued Mr. Rafael, “at the end of the day these activities are designed to increase production revenue, reserves in the ground, and enhance shareholder value.”
News Link: https://www.otcmarkets.com/otcapi/company/dns...75/content
MDM Permian, Inc. today announced the staking of the Brown #2 well in Nolan County, Texas. “Our company owns all of the undeveloped acreage on the Brown Lease, and we are ready to drill our first well as an offset to the Brown # 1. We will be completing the Brown #1 for our partner, OKET Blackwater, LLC. The completion will be in the Strawn, over the next few weeks. MDM Permian, Inc. owns a 1/8th carried W.I. interest in the well.” States Michael Rafael, President. “Our geologist, Bruce Swartz thinks highly of the area as we are on strike for both Ellenburger and Strawn.”
WTI oil is holding at the $80. Per barrel price. Last week the company sold oil on 2 of its Irion County projects, Lindley and Oglesby. The Wise County project, Kew-Peacock #1 continues to sell gas into the $6.00 market.
MDM Permian, Inc. has been assessing several producing properties that have both behind pipe potential and drillable acreage. Financing for these projects is secured and bids are being submitted for the projects deemed most cost effective. These projects could add as much as 500 BOPDE prior to reworking and drilling of new wells. “Our team has been working diligently for months to find the right projects that will help grow our footprint in the Permian Basin,” continued Mr. Rafael, “at the end of the day these activities are designed to increase production revenue, reserves in the ground, and enhance shareholder value.”
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