Maverick Energy Group is focused on operating and owning interest in several already producing natural gas wells in West Virginia. The company also owns additional natural gas leases in the region and plans to take over four gas wells drilled in 2006, with expected increase in production to follow.
In addition, the company is the operator of the “Big Foot Field” in Texas, which was originally developed by Royal Dutch Shell (RDS-A). There are approximately 310 production wells in the field, of which approximately 225 are currently producing revenues. A $40,000,000 Advancing Credit Facility secured with Gasrock Capital, LLC in August of 2006 and amended to $75,000,000 in November of 2007 finances the drilling operations in the Big Foot Field.
James W. McCabe, Jr. leads Maverick Energy as the chairman of the board and Chief Executive Officer. He has more than 2 decades of experience in the petroleum industry, serving in executive management positions. Mr. McCabe has been independently in oil and gas since 1975, and has devoted all his efforts to the oil and gas industry. Since 1989, Mr. McCabe has focused on developing, using and marketing short radius horizontal drilling technology.
Heading the company as the president and director, Richard J. Bednar is a Certified Public Accountant and holds a Bachelor’s of Accounting degree from Oral Roberts University as well as a Master of Science degree with specialization in taxation from the University of Tulsa. Mr. Bednar has more than twenty years experience in the field of international public accounting and corporate finance, and has arranged and structured a wide range of commercial loans and credit enhancement facilities.
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