- Feb. 16, 2017
-- Drilco Oil and Gas, Inc. (Drilco) announced today that it has engaged Castle Placement as its exclusive placement agent to raise $35 million of capital. Proceeds will be used to fund additional oil and gas development drilling activities in Ritchie County, West Virginia.
Drilco will drill, develop and operate ten separate Drilco-leased well sites with known oil and gas resources in three stacked stratigraphic zones, including the Marcellus.
Drilco is a third-generation Charleston, West Virginia-based oil and gas drilling company that is privately owned. It has successfully completed over 200 wells in West Virginia, and has one of the most experienced oil and gas operating teams in the Appalachian region. Drilco owns and operates its own oil and gas gathering and processing systems and infrastructure.
Founded in 2009, Castle Placement raises equity and debt private capital for start-up, early-stage and middle market companies across a broad spectrum of industries. It uses the latest technology to connect its issuers with global institutional investors. Castle Placement has over 27,000 private equity, venture capital and strategic investors, family offices, pension funds, foundations, endowments, sovereign wealth funds, hedge funds and lenders.
Contact: Richard Luftig. (212) 418-1181 firstname.lastname@example.org://www.castleplacement.com