MDM Permian, Inc. - Permian Basin Field Update : vimarsana.c

MDM Permian, Inc. - Permian Basin Field Update


MDM Permian, Inc. - Permian Basin Field Update
Carrollton, Texas--(Newsfile Corp. - May 13, 2021) - MDM Permian Inc. (OTC Pink: MDMP) provides updated information from its field activities in the Permian Basin of Texas on the Lindley 6103 lease, Lindley A lease, and the Oglesby 1-A lease. Oil prices remain strong and are expected to continue to increase all year.
LINDLEY 6103
At the end of February and beginning of March, Texas underwent a major weather event with below freezing temperatures for about a week. Power was lost in the Company's field for the duration of the event. After power was restored, the 6103 well was unable to pump any fluid. The Company attempted to add hot water to the tubing in an effort to get the well pumping again. The attempt was unsuccessful, the tubing was full and the downhole pump was not working. The Company called for a rig to pull the rods and pump. Permian Services had rig on location last week. Permian Services changed out the pump and added 75 bbls of hot water to the tubing to clean out paraffin. The well was put back to production and is producing 18 barrels of oil per day while still returning load water. The well is producing from perforations at the Canyon Sand. OK ET Blackwater, LLC is the investor partner on this well. MDM Permian, Inc. owns all other lease rights.

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