Texas Energy Group, LLC (TEG), along with industry partners and its affiliate operating company Resaca Resources, LLC (Resaca), began drilling the Cleveland Townsite well, located in Liberty County, Texas. Black Creek Drilling was contracted to drill this well to a total depth of 9,600 +/-. The main drilling targets are the middle & lower Wilcox sections on the 260 acre lease, with oil being the primary objective.
We are excited to commence the drilling of the Cleveland Townsite and are proud to have industry partners such as Winn Exploration Company, Inc. and Gulf Coast Midwest Energy Partners, LLC involved in this prospect with us, stated Waylan Johnson, President of TEG. He further stated,Liberty County has proven successful for us throughout the years and based on the geological findings of this well and proven development in the area, we feel very strongly that the Cleveland Townsite will yet again, prove our strategy of drilling shallow, conventional type wells.
TEG expects to drill possibly 2-3 additional wells in the coming months to fully develop the field.
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.
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.