For Immediate Release:
December 10, 1014
Redhawk Resources Management II, LLC has recently announced formation of a new $52,000,000 fund. This most recent venture will follow the format of embodying a fixed producing investment alongside a developmental drilling program.
In this case, the partnership has purchased interests in 37 newly producing wells on 11,000 acres all held by production. Additionally, the group purchased interests in 17,000 PUD acres for development. Most activity will be concentrated in portions of Decatur, Graham, Logan, Rawlins, Scott, Sheridan, Thomas, Trego and Wichita Counties, Kansas
The goal of the drilling program is to drill 30 conventional vertical wells in multi-stacked pay zones at a 4,000 to 5,000-foot depth. The primary objectives are targeted in the Lansing-Kansas City, Marmaton, Pawnee, Fort Scott, Cherokee, Johnson, Morrow and Mississippian pay zones. Most locations are well suited for secondary recovery as well.
The business model provides the investing partner with a relatively quick source of revenue while the drilling portion offers tax deductions and ratchets yields upward.
Jack Nichols, the Managing Partner, says, "Certain practices are in place as principals at Redhawk. Our projects are generally drilled in proven fields or developmental environments. Our projects are not ‘wildcat’ prospects. We combine current proven production assets with drilling assets rounding put a partner’s ability to achieve higher yields with lower risk."
"When it comes time to apportion out the profits from the wells, Redhawk does not get ahead of the investing partner," he says. "The company employs the best practices possible when investing our partner’s funds. As a result, cost of acquisitions and operations are continually scrutinized to maximize the value received from either the product or service. We are excited about Fund II and are looking ahead to developing our next opportunity."
For further details visit, www.redhawkinvestmentgroup.com