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Texas Energy Group, LLC (TEG) Announces NEW GK Drilling Project!
Texas Energy Group, LLC (TEG) would like to formally announce their new GK Drilling Project with wells located in both Goliad and Karnes Counties, Texas.
TEG will have industry partners involved in the GK Project along with their internal partners. These two wells are the first of several to be drilled in the Upper Gulf Coast region. Both wells should produce natural gas with associated oil.
Reserve potential ranges from 4.4 BCF/85,000 BO upwards to 17 BCF/308,000 BO for both wells. TEG has run internal economics based on $3/MCF gas and $45/BO.
Current drilling prices at the above mentioned commodity prices gives the GK Project a strong upside potential. We believe the best time to identify future reserves are when drilling costs are at their lowest possible amount. “We are seeing some drilling costs at ten year lows” quoted Waylan Johnson, President and owner of TEG. TEG hopes to continue on its path of success by making the GK Project their fifth successful drilling project in a row. Their last four projects have all successfully produced commercial wells.
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. Emails may be directed to Info@TexasEnergyGroup.com
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. In particular when used in the preceding discussion, the words "believes", "expects", "intends", "will", "anticipated"
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Texas Energy Group (TEG) is an Austin, TX based Oil & Gas Exploration and Investment Company specializing in multi-well, low risk developmental drilling projects. For Oil & Gas Investment information go to www.TexasEnergyGroup.com or call (877) 893-6749.