STORH

STORH Equity Platform Acquires Texas-Based Raccoon Bend Oil Field

Retrieved on: 
Tuesday, August 6, 2019
Energy, Energy development, Peak oil, Proven reserves

Prior to official closing, the property wassecured under an LOI, pending due diligence and the unwinding of an unrelated partnership.

Key Points: 
  • Prior to official closing, the property wassecured under an LOI, pending due diligence and the unwinding of an unrelated partnership.
  • STORH isexcited to announce that they willnowown 12% of the field and tokenize it for their investors.
  • 800 barrels of oil per dayalong with associated natural gas, the Raccoon Bend Field has proven reserves of over 3 million barrels, a 3P (Proven, Probable, Possible) Resource of 4.2 - 4.5 million barrels and 25+ years of productive life.
  • This presents itself as a milestone acquisition for STORH, adding immense value to their arsenal and setting them apart from a majority of their competitors.