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MDMP MDM Permian News.

Discussion in 'Penny Stocks' started by Giants1967, Jan 13, 2020.

  1. Giants1967

    Giants1967 Member

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  2. Giants1967

    Giants1967 Member

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    MDMP

    MDMP News!
    On WednesdayMarch 25, MDM Energy, Inc. (wholly owned operating subsidiary of MDM Permian, Inc.) reports the initial results from the reworking of the Lindley 61-3 well in Irion County, Texas.The work took place during the week of March 17 thru March 23. As expected, the well had paraffin and scale buildup at the bottom. This was cleaned out and the well perforated with 6 shots per foot over the upper 10 ft of the 40 ft Canyon Sand zone. The gas gun was discharged into the new perforation and a small acid and chemical job was administered to clean out debris from the zone.Treated water was used to flush the acid into the formation.The initial results have so far have been quite encouraging. The fluid level in the well is near the surface. When the pump jack is turned off the well will flow into the tanks from the casing side due to the gas being charged. Over the 1stseveral days of pumping the well has produced oil and no water, sometimes just water, and oil and water together. It was pumping intermittently due to gas locking. That problem was resolved the 2nd day of pumping.As stated, the well also has a large component of natural gas that causes the flow of fluid through the casing.The gas is being sold through the Targa meter station. As the well returns the load (acid and water injected during the cleanup) we continue to monitor for a leveling of the production. This could take up to 10 days.The formal geologists report of the re-work of this well will be posted in the next few days with further updates and settled production numbers.
     

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