Texas Energy Group, LLC (TEG) affiliate, Spicewood Energy Management, LLC, announces participation in a new conventional drilling prospect on behalf of Spicewood Energy Fund I, LP.
Spicewood, TX, May 16, 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 new conventional drilling prospect located in south west Louisiana. 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.
“South west Louisiana is beginning to become a real area of focus for Spicewood as it continues to show great opportunity for drilling shallow conventional wells, which adheres to our business model,” stated Waylan Johnson, President of TEG and SEM. He further stated, “This particular drilling prospect afforded us the opportunity to align ourselves with another well-known, family owned operating company that has proven successful in discovering hydrocarbons in the area. We are proud to now be affiliated with five different operators in the south Louisiana territory.”
The location of this new drilling prospect is in the process of being built and the well is expected to be drilled at the end of the second quarter. SEM plans to continue developing relationships with small privately held companies focused on drilling and operating conventional oil and gas wells throughout Texas and Louisiana.
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.
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.
Texas Energy Group, LLC
Amy Escalera (TEG)