Texas Energy Group, LLC (TEG) Affiliate Announces First Distribution to Oil & Gas Fund
Texas Energy Group, LLC (TEG) affiliate, Spicewood Energy Management, LLC, announces first quarterly distribution to its inaugural oil and gas fund, Spicewood Energy Fund I, LP.
Spicewood, TX, July 23, 2015 --(PR.com)-- Texas Energy Group, LLC’s (TEG) affiliate company, Spicewood Energy Management, LLC (SEM), General Partner to Spicewood Energy Fund I, LP (SEFI), announced today that its inaugural fund received its first quarterly distribution on July 16th. The quarterly distribution equated to approximately 3% for 2Q 2015, annualizing out to a projected 12% rate of return. The additional tax benefits earned by investing in oil and gas were not calculated into these numbers.
SEFI closed in August of 2014 when oil and gas prices quickly began to drop. “Due to the commodity downturn that was taking place during the close of SEFI, SEM made the decision to stand still on deploying funds on behalf of SEFI until we began to see some recovery in the marketplace. We are proud to say that our strategy of waiting to deploy funds until December of 2014 proved to be a successful one. We are extremely pleased with the first distribution we were able to make on behalf of SEFI and believe it attests to the strengths in our fund model,” stated Waylan Johnson, President of TEG and SEM. He further stated, “We put a great deal of time, effort and ingenuity into building and creating the unique model by which our funds are structured. It is both exciting and rewarding to see our product thriving even in the current commodity climate.”
SEFI was an SEC Regulation D, 506(c) offering which was structured to engage in all aspects of oil and gas exploration, development and production. SEFI has acquired assets ranging from ownership in in-house generated drilling prospects, non-operated working interest in various deals throughout Texas and Louisiana, as well as royalty & mineral interest and Fund to Fund interest. SEFI has also enjoyed success under its Active Trade and Hedge Program.
TEG’s affiliate, Spicewood Energy Management, LLC, was formed to manage oil and gas investments through multiple limited partnerships. SEM is raising capital for its current fund offering, Spicewood Energy Fund III, LP (SEFIII). SEFIII is being offered to verifiable accredited investors only. For further information regarding topics discussed in this article please contact Texas Energy Group, LLC via their Investor Relations Department; (877) 893-6749 or visit them on the web at www.TexasEnergyGroup.com. SEM may also be contacted directly via (512) 610-0552 or www.SpicewoodEnergy.com
Emails may be directed to Info@TexasEnergyGroup.com or Info@SpicewoodEnergy.com
About TEG
Texas Energy Group, LLC (TEG) is an Austin, Texas-based oil and gas exploration and development company specializing in bringing industry prospects to the private investor. With company principals having over 24 years of involvement in the oil and gas industry, TEG has been involved in numerous ventures and partnerships, including ownership of two operating companies that have operated numerous projects from North Dakota to Texas. TEG is currently affiliated with Spicewood Energy Management, LLC and 5 Star SWD, LLC. Both affiliate companies offer fund structured Limited Partnerships that provide the same lower-risk business model that TEG programs have always adhered to.
Disclaimer: This release/announcement/document is neither an advertisement, an offer to sell, nor a solicitation of an offer to buy securities, Units or participations of Texas Energy Group, LLC (TEG). This release/document contains certain statements, estimates, and forecasts with respect to future performance and events. All statements other than statements of historical fact included in this release/announcement/document, a Memorandum, or the TEG website, including, but not limited to, statements regarding future performance of events, are forward-looking statements. All such forward-looking statements are based on various underlying assumptions and expectations and are subject to risks and uncertainties which could cause actual events to differ materially from those expressed in the forward-looking statements. As a result, there can be no assurance that the forward-looking statements included in this release/document, a Memorandum, or the TEG Website will prove to be accurate or correct. In light of these risks, uncertainties and assumptions, the future performance or events described in the forward-looking statements in this release/document, a Memorandum, or the TEG Website might not occur. Accordingly, investors should not rely upon forward-looking statements or historical performance as a prediction or indicator of actual or future results. Also, Texas Energy Group, LLC., its officers, principals, employees, agents, subsidiaries, affiliates and consultants, and the other parties, investors, and partners involved in any properties, programs and TEG activities have conflicts of interests. The price received for the oil and natural gas produced from any investments, activities, properties may be less than quoted NYMEX prices at any given times. TEG does not undertake any obligation to update any forward-looking statements, facts or other information, whether as a result of new information, future events, subsequent circumstances or otherwise. Information herein is not intended to be any form of solicitation. Information contained herein should not be construed as investment advice. TEG is not a tax professional and does not offer any tax advice.
SEFI closed in August of 2014 when oil and gas prices quickly began to drop. “Due to the commodity downturn that was taking place during the close of SEFI, SEM made the decision to stand still on deploying funds on behalf of SEFI until we began to see some recovery in the marketplace. We are proud to say that our strategy of waiting to deploy funds until December of 2014 proved to be a successful one. We are extremely pleased with the first distribution we were able to make on behalf of SEFI and believe it attests to the strengths in our fund model,” stated Waylan Johnson, President of TEG and SEM. He further stated, “We put a great deal of time, effort and ingenuity into building and creating the unique model by which our funds are structured. It is both exciting and rewarding to see our product thriving even in the current commodity climate.”
SEFI was an SEC Regulation D, 506(c) offering which was structured to engage in all aspects of oil and gas exploration, development and production. SEFI has acquired assets ranging from ownership in in-house generated drilling prospects, non-operated working interest in various deals throughout Texas and Louisiana, as well as royalty & mineral interest and Fund to Fund interest. SEFI has also enjoyed success under its Active Trade and Hedge Program.
TEG’s affiliate, Spicewood Energy Management, LLC, was formed to manage oil and gas investments through multiple limited partnerships. SEM is raising capital for its current fund offering, Spicewood Energy Fund III, LP (SEFIII). SEFIII is being offered to verifiable accredited investors only. For further information regarding topics discussed in this article please contact Texas Energy Group, LLC via their Investor Relations Department; (877) 893-6749 or visit them on the web at www.TexasEnergyGroup.com. SEM may also be contacted directly via (512) 610-0552 or www.SpicewoodEnergy.com
Emails may be directed to Info@TexasEnergyGroup.com or Info@SpicewoodEnergy.com
About TEG
Texas Energy Group, LLC (TEG) is an Austin, Texas-based oil and gas exploration and development company specializing in bringing industry prospects to the private investor. With company principals having over 24 years of involvement in the oil and gas industry, TEG has been involved in numerous ventures and partnerships, including ownership of two operating companies that have operated numerous projects from North Dakota to Texas. TEG is currently affiliated with Spicewood Energy Management, LLC and 5 Star SWD, LLC. Both affiliate companies offer fund structured Limited Partnerships that provide the same lower-risk business model that TEG programs have always adhered to.
Disclaimer: This release/announcement/document is neither an advertisement, an offer to sell, nor a solicitation of an offer to buy securities, Units or participations of Texas Energy Group, LLC (TEG). This release/document contains certain statements, estimates, and forecasts with respect to future performance and events. All statements other than statements of historical fact included in this release/announcement/document, a Memorandum, or the TEG website, including, but not limited to, statements regarding future performance of events, are forward-looking statements. All such forward-looking statements are based on various underlying assumptions and expectations and are subject to risks and uncertainties which could cause actual events to differ materially from those expressed in the forward-looking statements. As a result, there can be no assurance that the forward-looking statements included in this release/document, a Memorandum, or the TEG Website will prove to be accurate or correct. In light of these risks, uncertainties and assumptions, the future performance or events described in the forward-looking statements in this release/document, a Memorandum, or the TEG Website might not occur. Accordingly, investors should not rely upon forward-looking statements or historical performance as a prediction or indicator of actual or future results. Also, Texas Energy Group, LLC., its officers, principals, employees, agents, subsidiaries, affiliates and consultants, and the other parties, investors, and partners involved in any properties, programs and TEG activities have conflicts of interests. The price received for the oil and natural gas produced from any investments, activities, properties may be less than quoted NYMEX prices at any given times. TEG does not undertake any obligation to update any forward-looking statements, facts or other information, whether as a result of new information, future events, subsequent circumstances or otherwise. Information herein is not intended to be any form of solicitation. Information contained herein should not be construed as investment advice. TEG is not a tax professional and does not offer any tax advice.
Contact
Texas Energy Group, LLC
Amy Escalera (TEG)
(877) 893-6749
www.TexasEnergyGroup.com
Amy Escalera (TEG)
(877) 893-6749
www.TexasEnergyGroup.com
Contact
Categories