Texas Energy Group, LLC (TEG) Affiliate Announces Participation in Southeast Texas Oil Prospect
Texas Energy Group, LLC (TEG) affiliate, Spicewood Energy Management, LLC, announces participation in a conventional drilling prospect located in Chambers County, TX on behalf of Spicewood Energy Fund I, LP.
Spicewood, TX, August 25, 2015 --(PR.com)-- Texas Energy Group, LLC’s (TEG) affiliate company, Spicewood Energy Management, LLC (SEM) announced today that its inaugural fund, Spicewood Energy Fund I, LP (SEFI), has taken a non-operated working interest position in a conventional directional test well located in Chambers County, TX. SEFI currently holds ownership interest in several non-operated deals located throughout Texas and Louisiana as well as a couple in-house generated and operated drilling programs.
The initial well will be drilled to approximately 11,400’ and test a proven producing fault block of the Top Yegua, which is a prolific regional oil sand. “We found this prospect particularly appealing as it will be drilling into a reservoir which has already produced considerable amount of oil and which is still estimated to have a significant amount of recoverable reserves,” stated Waylan Johnson, President of SEM. He further stated, “Additionally, this prospect comes with the potential of four offset wells which could add even greater asset value to SEFI. We feel very privileged to have been offered participation in this prospect and are honored to now be involved in multiple projects with this particular prospect-generator.”
The location of this prospect is currently being built with hopes of spudding the test well by the end of August.
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.
The initial well will be drilled to approximately 11,400’ and test a proven producing fault block of the Top Yegua, which is a prolific regional oil sand. “We found this prospect particularly appealing as it will be drilling into a reservoir which has already produced considerable amount of oil and which is still estimated to have a significant amount of recoverable reserves,” stated Waylan Johnson, President of SEM. He further stated, “Additionally, this prospect comes with the potential of four offset wells which could add even greater asset value to SEFI. We feel very privileged to have been offered participation in this prospect and are honored to now be involved in multiple projects with this particular prospect-generator.”
The location of this prospect is currently being built with hopes of spudding the test well by the end of August.
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
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