Monogram Energy (MGRN.PK) is an independent energy company based in Texas and engaged in the acquisition, development, and exploitation of oil and gas properties. Their strategy is to grow through acquisition and enhancement of prior producing properties using new technologies and production techniques. The company expects these technologies to restore and enhance production of existing, non-producing wells.
Monogram’s plan to maintain steady growth using prior producing properties is a very low risk strategy. The company is acquiring only oil and gas leases with proven reserves that have the potential for increased production. Monogram plans to re-invest from its net operating cash flows to expand existing production and acquire these new properties through a balanced mix of debt and equity.
Monogram will enhance production and cash flow by accelerating recovery through drilling moderate risk step-out wells on existing recovery systems and reducing operating costs. Monogram intends to enhance recovery by employing the following techniques: 1) using improved chemical treatments for existing wells, 2) utilization of new equipment and technology for well workovers, and 3) using chemical fracture stimulation systems for improved production.
Earlier this month, Monogram Energy announced the acquisition of additional oil and gas leases in Texas. The company also announced that they are poised to make their first sale of oil from wells acquired previously in Texas.
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