August 18, 2015
August 18, 2015 - PRESSADVANTAGE -
FIG Tree Capital Ventures, an oil and gas investment firm based in Texas, has recently announced the completion of a well with record setting initial production for FIG and Whiting Petroleum Corporation. The announcement was made August 3, 2015.
The company specializes in offering accredited investors investments in energy, real estate, and technology. These investments mainly focus on revenue generation, asset appreciation, and tax benefits. FIG Tree Capital Ventures currently has projects in North Dakota and in different parts of Texas. The company's Chief Executive Officer Ryan Wright believes that their latest project is pivotal for both the company and potential investors. "We believed that this property fits our strategic acquisition model and obviously, the results speak for itself," Wright mentioned in a recent interview found at http://www.figtreecapitalventures.com. He added: "It makes sense that companies like us with invest-able capital are buying now in order to position themselves for future oil price increases. There are a large number of interest owners around the country that are simply being forced to liquidate premier assets to satisfy capital needs, which is why this oil price environment bodes well for our Funds."
The well, located in the Skunk Creek development currently operated by Whiting Petroleum Corporation, reached an initial 24-hour production rate of 4,300 barrels of oil equivalent. The Fund has purchased the Skunk Creek properties last January 2015 as part of the company's ongoing strategy to purchase existing production and proven acreage for future development. It is one of the four wells drilled from a single pad in the Skunk Creek development. This is a company record for FIG Tree Capital Ventures, and a country record for Whiting Petroleum Corporation. The well has produced over 27,000 bbls of oil and 23,000 mcf from the Middle Bakken formation in the first 12 days. The well's production has been documented and can be seen at https://www.youtube.com/channel/UCMZ4sUUmA8iyDyIiB3pQqAg.
FIG Tree's president Richard Main is optimistic with the company's future. "The next 6 to 18 months are shaping up to be a very advantageous time for us regarding acquisitions. Using today's price environment as the matrix for acquisitions, it gives us the ability to realize solid returns on purchases and ongoing development."
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For more information about Fig Tree Capital Ventures, contact the company here:
Fig Tree Capital Ventures
Ryan Wright
