PMD to Acquire Additional O&G Properties
Plateau Mineral Development issued a statement detailing the acquisition of additional oil and gas producing properties from Matthews Energy Investments (MEI).
Plateau Mineral Development, Inc. obtained rights to the properties via the impending acquisition of MEI. Last month, Plateau signed a letter of intent to acquire Matthews Energy Investments, LLC (MEI). MEI is a development management company that receives income from successful projects. Three current sources of income for MEI are from oil and gas projects in Kentucky, Oklahoma and Michigan; all of which have a positive cash flow. The acquisition of MEI is expected to be complete within the next several days.
Each of the properties are located in areas where the basin is thriving and productive.
Robert Matthews of Plateau Mineral Development, Inc., states, "Our main objective in acquiring the aforementioned properties is to glean a steady oil and gas income, and to enhance the continued viability of the company. We are doing all we can to prudently enhance PMDP's income figures."