MIDLAND, Texas, Aug. 8, 2019 /PRNewswire/ -- TEXAS STANDARD OIL LLC ("TXS") is pleased to announce that it has retained Entoro Capital as TXS's Placement Agent for a $30 million Private Placement Offering to drill, complete, and produce multiple horizontal Wolfcamp shale wells in the Permian Basin. Texas Standard Oil has a large acreage position in an opportunity-rich area of the Permian Basin. The West Texas and Southeast New Mexico region has been producing oil for generations, yet tens of billions of barrels of untouched recoverable oil reserves still remain. This capital raise will initiate TXS's long-term development program in one of the most productive oil fields in the world.
"We are excited to work with the very talented team at Entoro Capital," said TXS President, Tim Roberson. "Entoro has a strong history of facilitating successful capital raises across many industries but has long specialized in the oil and gas sector. Their recent effort to roll out an extensive digital investment platform has made them a leader in advising and providing support for clients and accredited investors through the investing process. Their expertise will be highly beneficial for this capital raise to grow our company."
"When seeking new clients to partner with, Entoro prioritizes finding strong management teams with a history of success," said James C. Row, Managing Partner of Entoro Capital. "Texas Standard Oil's highly seasoned leadership team has extensive experience operating in the Permian Basin and delivering superior results. Texas Standard Oil's offering aligns perfectly with Entoro Capital's strengths in its people and technology."
About Texas Standard Oil
Texas Standard Oil is a Midland, Texas-based, privately owned, Permian Basin oil company that has assembled a large leasehold position in an oil-rich area of the horizontal Wolfcamp shale play with initial drilling operations slated to commence in Q4 2019.
TXS was incorporated in 2015 by several management members who previously worked together to build successful projects in both offshore federal Gulf waters and onshore along the Texas and Louisiana Gulf Coast. The majority of the team's greater than 200 years of experience is in the Permian Basin.
The full multi-disciplinary team of E&P executives bring experience from public and private companies and considerable time as independent professionals.
To learn more about Texas Standard Oil, visit https://txsoil.com/, or
President & Co-Founder
About Entoro Capital
Entoro Capital is an investment bank and advisory group for traditional and digital securities. Entoro uses its proprietary online private securities syndication platform OfferBoard® for accredited investors to analyze and review projects and opportunities. Entoro's strength is in bringing highly vetted projects to investors globally, with maximum efficiency, end-to-end security, and seamless execution, delivering total confidence in each investment. Our investment platform combined with blockchain technology provides issuers and investors access, flexibility, and transparency throughout the investment process. Securities are offered through Entoro Securities, LLC, member FINRA/SIPC.
SOURCE TEXAS STANDARD OIL LLC