Texas Energy Group
19019 Hwy 71 West
Spicewood TX 78669
Ph (512) 263-8106
Fx (512) 263-8136
Texas Energy Group
2621 Hwy 361, Ste D
Port Aransas TX 78373
Ph (631) 749-4990
Fx (3661) 749-4992
Ph (877) 893-6749
Fx (512) 263-8136
Texas Energy Group, LLC (TEG) Affiliate Announces Launch of New Oil & Gas Drilling Fund
Texas Energy Group, LLC (TEG) is pleased to announce that its affiliate, Spicewood Energy Management, LLC, has officially launched Spicewood Energy Fund III, LP, a year-end oil and gas drilling fund structured to capitalize on IDC tax benefits.
FOR IMMEDIATE RELEASE
Austin, TX – October 2, 2014- Texas Energy Group, LLC (TEG) is pleased to announce that its affiliate, Spicewood Energy Management, LLC (SEM), has officially launched its next oil and gas drilling fund, Spicewood Energy Fund III, LP (SEFIII). SEM was founded by Waylan Johnson, President of TEG, in mid-2011 and was formed to manage oil and gas investments through multiple limited partnerships.
Following the close of two oil and gas funds within the past ten months, SEFIII was structured to capitalize on SEM’s drilling fund structure, which was adapted from TEG’s original lower-risk business model, whereby investors have the opportunity to take advantage of multi-well diversification and the tax benefits associated with US oil and gas drilling.
SEFIII will participate in both in-house generated oil and gas drilling programs as well as non-operated oil and gas programs throughout Texas and Louisiana. Additionally, SEFIII was structured with the ability to participate in commercial water disposal wells, whereby they can capitalize on the booming salt water injection industry specific to the large shale plays in Texas. SEFIII will close on December 31, 2014 and acquire working interest primarily in wells that will be drilled in time to qualify for tax benefits in the 2014 calendar year. “Mirroring our second fund, Spicewood Energy Fund II, which closed in December 2013, we are delighted to offer our investors yet another opportunity to exercise year-end tax minimization strategies with an investment into Texas oil drilling via SEFIII. SEFIII will serve to provide our investors who choose to participate as investor general partners with an estimated 75-85% IDC tax write off for 2014 along with a 15% depletion deduction for income from oil and gas production,” stated Waylan Johnson, President of Texas Energy Group, LLC and Spicewood Energy Management, LLC.
Mr. Johnson further stated, “With over 25 years of industry experience in both fund management and the operational side of the oil and gas industry, we are utilizing our strong industry relationships and seeing unprecedented deal flow from which we are able to pick premier industry deals for our investors. I believe that we are well positioned to deliver our investors a diverse portfolio of successful oil and gas properties.”
SEFIII is being offered to verifiable accredited investors only. For further information regarding topics discussed in this article, including information on how to become involved in SEFIII, 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.
Emails may be directed to Info@TexasEnergyGroup.com
More information about TEG’s new affiliate private equity management company, Spicewood Energy Management, LLC., can be found at www.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 has been fortunate to assemble a highly qualified network of geologists, engineers, geo scientists, and operators who have ultimately played a huge role in the company's success. With thanks to their highly educated and experienced team, TEG has created a proven track record of success.
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. TEG also adheres to a stringent project selection process in an effort to further mitigate investment risks. Under their stringent project selection process, TEG requires all of their prospective projects to past rigorous geological analyses performed by their experienced team of geologists and geo scientists.
More recently, TEG has taken this same lower-risk business model and adapted it to fit within the managed fund structure that its newly formed affiliate company, Spicewood Energy Management, LLC, now offers. Through registered Limited Partnerships, SEM is able to offer its qualified participants the same multi-well diversification and IDC tax benefits, while providing a structure which allows the investors truly preferential cash flow and capital preservation.
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.
Disclaimer: Information herein is not intended to be any form of solicitation. Information found on this page and throughout this entire website is neither an offer to buy or sell securities or other investments.
© Copyright 2013 Texas Energy Group, LLC
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