Maverick’s flagship assets are leases that it holds over parts of
the Blue Ridge Dome, an established producing oil field located
south of Houston, Texas in the United States. Maverick’s net oil
reserves in these leases are independently estimated at:
12.4 million barrels of 1P reserves; and
52.4 million barrels of 2P reserves.
Blue Ridge Dome history
Blue Ridge Dome is a piercement type salt dome located just
south of Houston, Texas in the United States. From a field size
of less than 1,200 acres it has produced over 24 million barrels
of oil since the Blakeley 2C discovery well was drilled in 1919.
Early wells in the field routinely experienced initial production of
1,000 BOPD or greater.
Maverick believes that historical petroleum prices and previous
drilling practices meant there was little incentive to thoroughly
deplete the field with aggressively spaced wellbores and, as a
result, wells that are economic at current prices often proved subeconomic
and were routinely plugged. This has presented an
opportunity for Maverick to economically extract petroleum that
earlier producers have left behind.
