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."