October 17, 2017 - 10:02 AM EDT
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FIG Tree Capital Ventures Announces Another Successful Well In The Oklahoma STACK

MCKINNEY, Texas, Oct. 17, 2017 /PRNewswire/ -- FIG Tree Capital Ventures, a Texas based venture capital firm, with projects in the Oklahoma STACK and SCOOP, the Williston Basin (Bakken/Three Forks Shale) of North Dakota, and The Woodbine Eaglebine Formations of South East Texas, announces a newly completed well with huge initial production.  FIG Tree partnered with Chesapeake Energy to drill the Bradford 5-18-5 to the Oswego Formation in Kingfisher County Oklahoma.  The well reached an initial 24-hour production rate of 1,130 bbls of oil and 3,677 mcf of gas.  Although FIG Tree and its partners have been successfully targeting the Woodford and Meramec Formations in the Oklahoma STACK and SCOOP for some time, the Bradford well is the first time the company has participated in the Oswego Lime.

FIG Tree Capital Ventures, LLC

Ryan Wright, the company Chief Executive Officer, stated, "The OSWEGO play caught our attention due the low cost of development compared to other formations and the tremendous well results that have occurred here.  Right now, we have four more Oswego wells planned for the near term, and we are actively working to pick up acreage for additional locations in the future."

FIG Tree specializes in identifying and acquiring non-operated acreage positions in the core areas of the nation's most prolific unconventional resource plays like the Oklahoma STACK and SCOOP.  Since first entering the STACK and SCOOP several years ago, FIG Tree and its partners have acquired interest in 17 wells across Grady County, Kingfisher County, Canadian County, and Custer County with plans for more.  According to Richard Main, the company President, "It's our opinion that the STACK and SCOOP will remain the most economic acquisition targets for the foreseeable future.  Our company's well results here and available well data throughout the play suggests these areas could have the lowest break-even price in the county."

About the Company
FIG Tree Capital Ventures is a venture capital firm in Texas that focuses on providing investment solutions in Energy, Real Estate, and Technology that are focused on revenue generation, asset appreciation, and tax benefits.

Qualified investors that want to learn more, and those looking to sell non-operating interest can contact FIG at (866-894-7309) or email us at [email protected] or visit http://www.figtreecapitalventures.com.

 

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SOURCE FIG Tree Capital Ventures


Source: PR Newswire (October 17, 2017 - 10:02 AM EDT)

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