Mammoth Energy Group, Inc. Announces Acquisition of Working Interest in a Third Well
Mammoth Energy Group, Inc. (PINKSHEETS: MMTE) is pleased to announce today that it has obtained a working interest in a new oil well, bringing the current total of working wells to three. Due to a slippage in schedule of approximately 3 weeks for continued drilling on its current well projects, the company has negotiated an interest in an additional oil well that has been completed. The well is located in Pawnee County, Oklahoma. Depth of the new well will be deeper then those currently drilled by the company and should realize higher production rates. Those rates will be released soon. We have re-entered previously drilled oil fields that have plenty of historical data where prior oil and gas companies did not test and pursue known formations.
“This is a great opportunity for the company to realize additional revenue, and expand its production quickly,” stated Joe Overcash, President of Mammoth. “Management is continuously seeking out new well interests and additional drilling leases.”
About Mammoth Energy Group, Inc.
Mammoth Energy Group, Inc. is focused on developing shallow gas projects in north-eastern Oklahoma due to the low risk, blanket characteristics in the area that make it possible to drill and produce a well nearly every time. It is currently focused on developing its Noble and Kay County properties in Oklahoma that covers approximately 1,400 acres.
More information is available at the company’s website at www.mammothenergygroup.net
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SOURCE: Mammoth Energy Group, Inc.