Archive for September, 2010
Posted 3 September 2010 by mpg. Blog, MPG Updates
Managed Petroleum Group, Inc. Announces NEW Coquille Bay Project
Managed Petroleum Group, Inc. would like to formally announce their new MPG Coquille Bay Drilling Project with two wells in Plaquemines Parish, Louisiana.
Managed Petroleum Group, Inc. has commenced funding for their new MPG Coquille Bay Project limited Partnership, a two (2) well project located in Plaquemines Parish, Louisiana. Both wells, Martin-Marks Operating Co., LLC No. 3 R.F. Price and the Martin-Marks Operating Co., LLC Duck Head No. 1, will be drilled to a total depth +/- 11,500’ and +/- 2,500’ respectively under a Turnkey Drilling Contract. MPG Financial, LLC, a registered broker/dealer, is currently offering its qualified participants the opportunity to review this project.
The Coquille Bay Project will have various industry partners involved in as well as the project’s limited partners. Both wells should produce natural gas with associated oil.
Potential recoverable reserves have been estimated at 17,832,783 MCF and 3,619,088 BO for both wells. Managed Petroleum Group, Inc. has run internal economics based on $4/MCF gas and $70/BO.
Current drilling prices at the above mentioned commodity prices gives the MPG Coquille Bay Project a strong upside potential. read more
For further information regarding topics discussed in this article please contact Managed Petroleum Group, Inc. directly at (866) 885-3221 or visit them on the web at www.ManagedPetroleum.com. Emails may be directed to Info@ManagedPetroleum.com.