DALLAS, TX / ACCESSWIRE / September 20, 2023 / MDM Permian, Inc (OTC PINK:MDMP) is pleased to announce its strategic plans to rework three Cotton Valley gas wells situated within one of its East Texas acquisitions. The company has identified significant reserves in these wells, with estimations ranging between 750 million to 1 billion cubic feet of gas per well.
The Cotton Valley wells in this area have shown promising initial production rates, averaging 1.5 million cubic feet (mcf) per day. Following the initial production phase, these numbers typically stabilize at approximately 30% to 40% of the initial rates, after the first year.
MDM Permian Inc is committed to optimizing the performance and potential of these Cotton Valley gas wells, employing advanced reworking techniques to enhance production, streamline operational efficiency, and capitalize on the substantial reserves of natural gas in the East Texas region.
The company remains dedicated to its mission of responsible resource development, ensuring that the reworking process adheres to all regulatory and environmental standards. MDM Permian, Inc is enthusiastic about this endeavor and looks forward to sharing updates on the progress and success of the rework activities as it continues to build value for its shareholders.
About MDM Permian, Inc. (MDMP). MDM Permian, Inc. is an emerging oil and gas exploration and production company committed to delivering sustainable energy solutions. With a focus on responsible resource extraction, operational excellence, and environmental stewardship, MDM Permian, Inc. aims to meet the growing energy demands while minimizing its ecological footprint. The company's diverse portfolio spans across multiple regions, driving economic growth and creating value for its stockholders and stakeholders.
For media inquiries, contact:
Rachel D. Green
V.P. Investor Relations
469-252-3603
rgreen@mdmpermian.com
Safe Harbor Act: This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involves risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic business conditions and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements to reflect events or circumstances that may arise after the date of this release.
SOURCE: MDM Permian, Inc.
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