Maverick Energy Group Ltd. (OTC:MKGP) Stock Surges 25% in a Week: But Why?

This morning, investors are going to be interested in those companies that hit the news cycle on Wednesday, and one such company could well be Maverick Energy Group Ltd. (OTC:MKGP). The company came into focus yesterday after it announced that it had arranged for the funds that would be necessary for recompleting the #1 Bonnie Davis well located in Jones County, Texas.

In the report that was released by the company yesterday, the company included the geological work that had been conducted on the project. The company’s geologist had re-evaluated the well. The company noted that following the completion of surface work, it was working on recompleting the Penn Lime at 2960-2968. It was also noted that it expected results on the same lines as the three offset wells that had been described in the report. The surface work had already commenced, and the recompletion would begin once that was concluded.

Maverick Energy Group announced that Bonnie Davis #1 had been drilled by Royal Texan Resources on April 22, 2027, at 3185. The company also shared a map in which it had been revealed that other producers had notably impressive rates of production. The production rates cited by the company were 55, 115, and 137 bopd. Additionally, none of the three wells had produced any water.

Maverick Energy Group is involved in the crude oil and natural gas industries. It is mainly involved in production, acquisition, exploration, and horizontal drilling. The company is mainly focused on certain areas in North America. Maverick Energy Group also owns a license to proprietary and patented horizontal production enhancement technologies. The company believes that those technologies help in the fast accumulation of oil and natural gas assets of significant value. The technologies also help with the improvement of the rates of production considerably while boosting the lifetime potential.

Jon Williams

Jon graduated from the University of Michigan with a degree in finance. He is an avid investor and enjoys reporting on the markets. When he is not in front of a computer he enjoys playing golf and watching basketball.