Mammoth Energy Group, Inc. (OTC PK: MMTE) is an energy company in the United States prospering in exploring, developing and extracting shallow gas resources and oil resources. The primary focus of the company is to identify and then evaluate oil and gas prospects. The company also provides expertise and capital for developing projects. MMTE looks for projects that will propose strong potential for commercially viable quantities of oil and gas and contracts with third parties for prospect drilling operations. Their goals also include negotiating production sales contracts and delivering oil & gas production to the marketplace.
The Company owns the drilling rights to a 1,400 acre prospect in Oklahoma’s Noble and Kay Counties. This is enabled, by its wholly-owned subsidiary United Gas OK, Inc. Production, from shallow wells in Noble and Kay county. Oklahoma is expected to provide consistent, reliable cash flow over the next 5-10 years to aid additional exploration and development projects. Mammoth Energy Group has already contracted with United Producers, Inc. to drill the first three wells on this prospect in Noble County.
In addition, the Company holds an 11.25% working interest in 17 producing gas wells in Oklahoma. These interests will provide the necessary cash flows for developing the Noble and Kay County project. Mammoth Energy Group’s focus on the development of shallow gas and oil projects will be in Oklahoma because of the projected high probability of success. The pursuit of low risk projects is what Mammoth Energy Group, Inc. strives to do while acquiring high quality exploring prospects as well.
Let us hear your thoughts: Mammoth Energy Group, Inc. Message Board