Mammoth Energy Group, Inc. is an oil and gas exploration holding company, consisting of a wholly owned subsidiary, whose primary focus is the development of oil and gas prospects in the State of Oklahoma.
The company's objective is to identify and evaluate oil and gas prospects and to provide expertise and capital to those projects that are believed to have the potential to produce oil and gas in commercially viable quantities.
The company relies on third party contractors for prospect drilling operations, negotiation of production sales contracts and the delivery of oil and gas production to the marketplace.
Mammoth Energy Group
Mammoth Energy Group, Inc. ("Mammoth") formerly traded on the NASDAQ stock exchange, is now, after its restructuring as an oil and gas exploration company, trading on the Pink Sheets Quotation Service under the ticker symbol MMTE.PK.
The company is managed by Joe V. Overcash, CEO and Clarence Foust, Secretary.
United Gas OK, Inc.
Mammoth has signed an agreement to acquire United Gas OK Inc. an Oklahoma company with working interests in 17 producing gas wells and a deposit placed on a 1,400 acre field and also in Oklahoma that has the potential to drill 60 shallow gas wells.
Our Philosophy
Where other oil and gas exploration companies seem to be focused on hitting ³home runs² with respect to their exploration and drilling philosophy, and seem to be content to spend substantial cash resources to test for large oil and gas reserves, Mammoth, on the other hand, is concentrating on hitting low risk "singles", preferring to methodically build cash flow while keeping an eye open for the occasional opportunity, where when cash flow permits, it is warranted to take a chance and "swing for the fences".
Mammoth is focused on executing 4 primary strategies:
1. To lease large areas of acreage in "hot area". 2. To drill low risk wells that are in or near existing fields. 3. To develop low risk projects in Oklahoma where shallow gas wells can be brought into production with a very high probability of success. 4. To acquire existing production that possesses possibilities for expansion.
Mammoth and its subsidiaries rely on a strategy of outsourcing its needs to other oil and gas companies so that it can keep overhead down. The companies below are some of these partners:
United Producers, Inc.
Broken Arrow, Oklahoma Drilling supervision and Well Operation
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