Maverick also said that its two-well horizontal drilling program in Caldwell County, Texas, continues to progress. The first well has been prepared and is ready to be drilled horizontally. The injection well is currently being completed and is expected to be operational within the next week. The second well to be drilled horizontally is expected to be prepped and ready to be drilled by the end of next week. Based upon equipment availability, Maverick expects horizontal drilling to commence on wells 1 and 2 within the next 2 weeks. The company, acting as operator, holds a 12.5% carried interest in the two horizontally drilled wells.
Maverick Energy is the operator of the Big Foot Field in West Texas that was originally developed by Shell. It is also the proprietary owner and operator of several natural gas fields in West Virginia.
PGPU is a publicly held holding company formed for purchase and acquisitions that best appreciate shareholder value.
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