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Follow on Google News | Texas Energy Group, LLC (TEG) Affiliate Announces First Distribution to Oil & Gas FundTexas Energy Group, LLC (TEG) affiliate, Spicewood Energy Management, LLC, announces first quarterly distribution to its inaugural oil and gas fund, Spicewood Energy Fund I, LP.
By: Texas Energy Group, LLC SEFI closed in August of 2014 when oil and gas prices quickly began to drop. “Due to the commodity downturn that was taking place during the close of SEFI, SEM made the decision to stand still on deploying funds on behalf of SEFI until we began to see some recovery in the marketplace. We are proud to say that our strategy of waiting to deploy funds until December of 2014 proved to be a successful one. We are extremely pleased with the first distribution we were able to make on behalf of SEFI and believe it attests to the strengths in our fund model,” stated Waylan Johnson, President of TEG and SEM. He further stated, “We put a great deal of time, effort and ingenuity into building and creating the unique model by which our funds are structured. It is both exciting and rewarding to see our product thriving even in the current commodity climate.” SEFI was an SEC Regulation D, 506(c) offering which was structured to engage in all aspects of oil and gas exploration, development and production. SEFI has acquired assets ranging from ownership in in-house generated drilling prospects, non-operated working interest in various deals throughout Texas and Louisiana, as well as royalty & mineral interest and Fund to Fund interest. SEFI has also enjoyed success under its Active Trade and Hedge Program. 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 About TEG 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/ End
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