SOC was founded by Waylan Johnson, President of TEG, in mid-2013 and will serve to operate wells on behalf of several oil and gas companies throughout Texas.
TEG will have the option to purchase non-operated working interest in several Upper Gulf Coast oil and gas drilling prospects that are currently being leased by SOC and managed by an affiliate company. These prospects are perfectly aligned with TEG’s business model of drilling shallow, conventional oil wells,” stated Waylan Johnson, President of TEG.
Mr. Johnson further stated,“This affiliation will fulfill all of TEG’s drilling needs throughout 2014 and into 2015.”
Spicewood Operating Company, LLC provides operational expertise along with geological and geophysical evaluation services, as well as 24 hour service while drilling, completing and producing oil and gas wells. Housing a team of professionals that have over 200+ years of combined oil and gas experience, SOC already has a strong foundation in place and has contracted several wells to be drilled in 2014 on behalf of TEG and other Texas based oil and gas companies.
SOC has been contracted to take over operations of the Phillips Blanding #1 well and Mulepond #1 well upon completion. Both of these prospects were offered as part of TEG’s Cinco Drilling Project. Such operations are expected to take place over the next couple of months.
For further information regarding topics discussed in this article please contact Texas Energy Group, LLC directly via their Investor Relations Department; (877) 893-6749 or visit them on the web where you can sign up for the TEG (corporate) mailing list and receive up to date information on general TEG activities, including all TEG press releases.
Texas Energy Group, LLC (texasenergygroup.com) 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.
The company has pursued a policy of drilling lower-risk oil and gas prospects, usually located in areas of proven production. Through TEG's unique multi-well projects, they are able to mitigate their investors' risk by extending the investment across multiple wells, increasing the investors' probability for success.
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