Industry

Real Assets/ Energy

Company Type

Upstream Oil & Gas

Location

U.S.

Size

$57 Million

Investment Type

Equity/Debt
For important risk and disclaimer information, Click Here.

Contact: Tina Vital, Managing Director

Email: tvital@castleplacement.com

Helping Great Companies Grow

OVERVIEW

LNG Operations acquires, develops and produces domestic oil & gas properties. Seeking +/-$57 million (excluding $8.37 million in committed equity investment) to develop oil & gas assets in Milam County, Texas (Eagle Ford – Austin Chalk Shale play).

  • Straightforward gas development in an area well-known for successful oil & gas plays for over 100 years with upside growth potential based on future seismic and development work
  • Own 2,144 gross acres oil & gas leases – 75% Working Interest – opportunity to purchase remaining 50,000 gross acreage
  • Highly prospective reservoir identified – drill 15 oil & gas wells (7 horizontal, 8 vertical) with least 35 additional wells identified for development
  • Access to nearby gas pipeline is an economic advantage – build 15- mile gas pipeline, meters, roads, drilling pads and processing facilities
  • Stellar management team – over 150 years of combined expertise in drilling, completions, exploration and workovers in the domestic and international oil & gas industry
Helping Great Companies Grow

OPPORTUNITY

Current economic market conditions in the U.S. are excellent for oil & natural gas exploration & production – supported by continued strong demand and limited supply.

  • Texas is the epicenter of oil & gas activity – producing more oil & gas than any other state
  • The Eagle Ford – Austin Chalk geological formation in south Texas is the most active shale play in the world and may be the largest single economic development in the state of Texas
Helping Great Companies Grow

SOLUTION / STRATEGY

LNG Operations plans to cost effectively extract oil & gas from strategically acquired field in Milam County, Texas (Eagle Ford – Austin Chalk Shale play) – area well-known for successful oil & gas plays for over 100 years.

  • Own 2,144 acres oil & gas leases – 75% Working Interest (WI); 56.25% Net Revenue Interest (NRI); prior owner holds the remaining 25% WI
    • Probable Undeveloped Reserves (estimated 24 Bscf of wet natural gas and 3.5 MMbbl of conventional oil)
  • Significant growth potential – aggressively expand during first 3 years of operation; develop fault block with horizontal wells to reduce development costs
    • opportunity to purchase remaining 50,000 acres oil & gas field in Milam County; Probable Undeveloped Reserves (estimated 571 Bscf of natural gas and 83 MMbbl of oil)
  • Operator – Lone Star Operations LLC (contract in-place)
Helping Great Companies Grow

HIGHLIGHTS

  • Highly prospective reservoir identified
  • Seismic work will identify specific target drilling locations
  • Successful wells should provide guidance for full field development
  • Access to nearby gas pipeline provides economic advantage
Helping Great Companies Grow

MARKETING PLAN

  • Extracted oil & gas will be sold directly into the open market
  • Develop relationships with oil wholesalers and property management firms that seek to lease land with oil & gas resources
  • Purchase order relationships (based on market prices) for extracted oil & gas – national and international energy product dealers and wholesalers
  • Working relationships to lease land – real estate agents and property management firms specializing in the sale and placement of leases for land known to hold oil & gas deposits
Helping Great Companies Grow

EXISTING ASSET – MILAN COUNTY, TEXAS

December 2022 – Mainfraim Industries LLC Economic Evaluation

  • Milam County, Texas – south of the shallow oil Rockdale Minerva Field Development
  • Leasehold – 2,144 gross acres (75% WI)
Helping Great Companies Grow

MANAGEMENT

R. Gerald (“Jerry”) Bailey, PhD, PE – Chairman

Over 50 years of experience in all aspects of engineering and executive management in the petroleum industry (from upstream to downstream), with specific Middle East skills. Founded the consulting firm, Bailey Energy LLC (1997-present). Chairman, Ephraim Oil LLC (2010-present). CEO, Silva Petroleum LLC (2019–present). CEO, MMH&ABS Engineering Group (2021–present). Partner, Global Resources Sustainability LLC (2019-present). President, BCL Petroleum (2018-present). Advisor, former CEO, Petroteq Energy (2012-present). Director, Cavitation Technologies (CVAT; 2021–present). Director, Spectrum Alliance Inc (2019-present).  Director, Tate Technology LLC. Advisory Board Member, GetGolf.com. Previously served as President, Exxon – Arabian Gulf (UAE); Assistant General Manager (on loan from Exxon), Abu Dhabi Onshore Oil Company; Operations Manager (on loan from Exxon), Qatar General Petroleum Corp; Operations Supervisor, Esso Standard Libya. Member of the U.S. Middle East Policy Council, Society of Professional Engineers, American Institute of Chemical Engineers, University of Houston Alumni Association, Houston Livestock Show and Rodeo, and the Texas Longhorn Breeders of America. Authored numerous energy-related articles, papers and studies. Keynote speaker at industry conference. Frequent guest on news media including Fox Business Network, CNBC, Newsmax, and One America News. Registered Professional Engineer in Texas.  PhD in Chemical Engineering, Columbia Pacific University. M.S. in Chemical Engineering, New Jersey Institute of Technology. B.S. in Chemical Engineering, University of Houston.

Michael Fraim, PhD – President

Over 30 years of experience as an international and domestic Petroleum Engineer. Consultant, Main Fraim Innovation (2018-present). Associate Professor, Petroleum Engineering Program, Texas A&M University (Saudi Arabia, 2016-present). Previously served as Associate Professor, Petroleum Engineering Program, Texas A&M University (Qatar). Past Senior EOR Specialist, Legacy Energy. Previously served on committees for the SPE. Guest Editor for the International Journal of Petroleum Science & Engineering.  Reviewed papers for the Journal of Petroleum Science & Engineering and the Arabian Journal for Science & Engineering. Authored numerous energy-related research papers. PhD, M.S. and B.S. in Petroleum Engineering, Texas A&M University.

Grant T. Lowey, PE – Vice President of Drilling and Operations

Over 35 years of experience as a professional geologist for global offshore and onshore oil & gas projects. Expert in screening, negotiating and closing oil & gas joint venture deals for participation. Geoscientist Consultant, Woodlands Finance Partners LLC (2006-present). Previously served as Team Lead Reservoir Geoscientist, Petronas; Business Development Consultant, Narag Energy Solutions Ltd; Geoscientist Consultant, Kuwait Oil Company; Consulting Engineer for Big Horn Resources, Terra Energy, Quicksilver, Apache Corp, Encana, Calco Geological Engineering Consultants, Nevarro Energy; and Staff Geologist, Saskoil and Norcen Energy Resources Inc. Society of Petroleum Engineer. Board Certified Petroleum Geologist (Malaysia; 2012-present). Registered Professional Geoscientist (Saskatchewan; 2000-present). Memberships – Board Certified Houston Geological Society; Applied Subsurface Mapping – Subsurface Consultants Associates; and Society of Petrophysicists and Well Log Analysts. Board Canadian Association of Petroleum Geologist Award and W.A. (Tony) Gordon Award. B.S. in Petroleum Geology, University of Regina (Canada).

Subscribe
Notify of
guest

0 Comments
Inline Feedbacks
View all comments

CONTACT US

Hi. We're not around right now. But you can send us an email and we'll get back to you, asap.

Thanks, Ken

Ken Margolis | Managing Partner Castle Placement, LLC
1460 Broadway Street, Rte 400
New York, New York 10036
(212) 418-1188 | C: (516) 712-7784
kmargolis@castleplacement.com

Sending