Spicewood, TX, March 25, 2015 --(PR.com
)-- Texas Energy Group, LLC’s (TEG) affiliate company, Spicewood Energy Management, LLC (SEM) announced today the successful completion and flow test of the Scout Blessing #1 well, located in Matagorda County, Texas. Spicewood Energy Fund II, LP participated in the Scout Blessing #1 via a non-operated working interest position.
“The Scout Blessing well is exactly the kind of conventional drilling success Spicewood was hoping for,” stated Waylan Johnson, President of TEG and SEM. He further stated, “We are very pleased with the flow test results as they not only suggest strong returns for SEFII but also serve to strengthen our philosophy of sticking to conventional drilling deals with local, family owned generators and operators.”
The Scout Blessing #1 well flow tested 1.2MM CFGPD and 150 BOPD with associated water on a 10/64th choke at 3400#’s. TEG & SEM’s management teams have long standing relationships with smaller oil and gas operators that continue to show success in the shallow to deeper conventional oil and gas arena. SEM has currently committed to several additional projects throughout the Upper Gulf Coast of Texas with various industry partners.
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.