MDM Permian MDMP is in a 52 week HIGH and is looking like it really could take off. But before we do, sign up for our amazing FREE newsletter below to get the hottest picks!
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Company Snapshot:
Company Name: MDM Permian, Inc
Ticker: MDMP
Exchange: OTC
Website: https://www.mdmpermian.com/
Company Summary:
In today’s Permian Basin landscape of horizontal plays and unconventional setups, MDM Permian MDMP looks to differentiate itself by capturing the best of vertical development and industry leading completion technology. Using decades of conventional play knowledge and state of the art NU-Tech log analytics MDMP stands at the forefront of mid-level Permian operators poised for developmental growth in 2021-22. Through select lease targeting, strategic service provider alliances, and experience of our team we focus on building value in the ground and then capitalizing on it through select drill site development.
MDMP in the NEWS
February 08, 2022
Yesterday, MDM Permian MDMP filed a Field Work Update with OTC Markets that has gotten a lot of investor attention.
This release highlights movement on the company’s Lindley ‘A’ Lease wells. The company moved a rig onto one of the wells, and ran pressure tests for holes at shallow depths. The initial results appear to be positive. Additionally, investors like the fact that the company is moving on commercializing the reserves discovered on this property.
According to a study the company did last month, the Lindley property has two reservoirs with approximately 3.6 million barrels of recoverable oil on 640 acres. At a market price of $65 oil, the company calculates these reserves to be worth $568 million.
Additionally, the company is quick to point out that these results are only for two zones. Other proven zones are not included in these numbers.
The recent progress made to commercializing these wells has speculators believing MDM could be close to capitalizing on this property. MDM could ultimately produce the oil itself or contract production with a third party. Regardless, these reserves appear to be ready to be monetized.
1 Year Chart
Technical Analysis:
MDMP is looking amazing with great news, but it is up a lot, so be careful. This is trending up seems to be stalled under $.24. If it has difficulty again, I would expect it to fall. Happy trading!
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