DALLAS, TX / ACCESSWIRE / September 13, 2023 / MDM Permian, Inc. (OTC PINK:MDMP) is pleased to announce the launch of a $10 million Regulation D (Reg D) Offering, exclusively available to accredited investors. This strategic move serves a dual purpose, preserving the interests of current MDM shareholders, while capitalizing on recent acquisitions to further enhance the company's growth prospects.
The primary objective of this offering is to safeguard the ownership stakes of existing MDM stockholders. By structuring the fundraising through a Regulation D Offering, MDM Permian ensures that the issuance of new shares will not dilute the ownership positions of its current shareholders.
Simultaneously, the capital raised through this offering will be strategically deployed to rework 15 existing wells and drill two new wells, generating substantial cash flow from the existing reserves on our acreage.
Reworking East Texas Holdings
MDM Permian has identified 14 existing wells in its East Texas holdings that will undergo rework in proven existing formations. These wells will be selected based on comprehensive analysis of existing well logs.
Expanding in the Permian Basin
In addition to the East Texas holdings, MDM Permian will allocate resources to develop its Permian Basin assets. This expansion effort will include the reworking of one existing well and drilling two new development wells across six potentially productive formations in Irion County.
"We welcome any accredited investor to inquire about the tremendous opportunity this represents," said Mark T. Warner, President and CEO at MDM Permian, Inc. "Besides the excellent tax benefits this offers, the economics are outstanding."
This strategic initiative underscores MDM Permian's commitment to maximizing the value of its assets while maintaining the integrity of its current shareholder base. Accredited investors are invited to participate in this exclusive $10 million Reg D Offering, which represents a significant step in the company's growth journey.
About MDM Permian, Inc. (MDMP). MDM Permian, Inc. is an emerging oil and gas exploration and production company committed to delivering sustainable energy solutions. With a focus on responsible resource extraction, operational excellence, and environmental stewardship, MDM Permian, Inc. aims to meet the growing energy demands while minimizing its ecological footprint. The company's diverse portfolio spans across multiple regions, driving economic growth and creating value for its stockholders and stakeholders.
For inquiries, contact:
Rachel D. Green
VP Investor Relations
469-252-3603
rgreen@mdmpermian.com
Safe Harbor Act: This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involves risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic business conditions and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements to reflect events or circumstances that may arise after the date of this release.
SOURCE: MDM Permian, Inc
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