Texas Energy Group, LLC’s affiliate company, Spicewood Operating Company, LLC (SOC) has announced that it will be operator of record for a shallow gas prospect that is owned by Spicewood Energy Fund I, LP. This prospect is located in Leon County, Texas and will be drilled in the second quarter of 2015. Spicewood Energy Fund I, LP is managed by Spicewood Energy Management, LLC (SEM).
“We are continually developing conventional shallow oil and gas prospects that make sense to drill at $50/oil and $2.50/mcf gas,” stated Waylan Johnson, President of TEG and SOC. He further stated,“There is a niche in the market between very shallow stripper type production and aggressive horizontal shale plays. We are very content to drill conventional shallow oil and gas wells that book a solid reserve base while returning positive cash flow at current commodity prices.”
TEG, SEM and their affiliate operator, Spicewood Operating Company, LLC, have generated 15+ shallow vertical wells that are expected to be drilled throughout 2015. For further information regarding topics discussed in this article please contact Texas Energy Group, LLC via their Investor Relations Department.
About Texas Energy Group, LLC (TEG)
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. 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.
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