Texas Energy Group, LLC (TEG) Announces Drilling Permit on Phillips Blanding #1 Well
Spicewood, TX, October 05, 2013 --(PR.com
)-- Texas Energy Group, LLC (TEG) is pleased to announce that the Texas Railroad Commission has approved a drilling permit for their newest well in Liberty County, Texas, the Phillips Blanding #1.
The Phillips Blanding #1 is part of TEG’s Cinco Drilling Project and will be drilled to a total depth of approximately 6,500’. Located just east of the prolific Cleveland Field, this prospect has the Blanding sand as its primary objective.
“We have identified yet another prospect within our niche of drilling conventional, shallow oil wells in Texas. The Cleveland Field is a mature oil field that has been producing for over 70 years. This prospect not only serves to meet our policy of drilling lower-risk wells in areas of proven development, but also increases our operating footprint in Liberty County,” stated Waylan Johnson, President of Texas Energy Group, LLC.
TEG and its affiliate operating company, Resaca Resources, LLC, along with numerous industry partners will begin drilling the Phillips Blanding #1 within the next 60 days.
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 at www.TexasEnergyGroup.com 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.
Emails may be directed to Info@TexasEnergyGroup.com
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 found on this page is neither an offer to buy or sell securities or other investments.