EnergyFunders Black Project Results, Returns, Recaps, and Reviews

Latest update: 9/07/2018

Why broadcast EnergyFunders project results and returns?

Communication and transparency are critical to the success of the EnergyFunders Black upstream oil and gas investment platform. EnergyFunders Black Project Results, Returns, and Reviews page is an attempt to honor three of our core values directly:

  1. Investor first
  2. No surprises
  3. Communication is critical

To facilitate the EnergyFunders mission to add transparency and provide direct access to the oil and gas industry, we will continue to post our EnergyFunders Black project track record, history, and reviews on this page. Our oil and gas upstream investments on EnergyFunders Black (Reg D) are for accredited investors only; however, we provide additional investment opportunities in EnergyFunders Marketplace through Regulation Crowdfunding (Reg CF).

How to Interpret the Project Summaries:

EnergyFunders Project Life Cycle Key:

Fundraise > Drill > Produce > Distributions to investors

  • Fundraise - Raise capital for this project on the EnergyFunders Black upstream platform
  • Drill - Capital deployment and execute planned development (drilling, completions, operations)
  • Produce - Production facilities and equipment installed; oil and/or gas production occurring
  • Distributions to Investors - investors receive revenue payments (monthly or quarterly) from this project’s production

EnergyFunders Project Status Color Code Key

  • Gray = step not yet in progress
  • Yellow = step currently in progress
  • Red = step was unsuccessful
  • Green = step completed successfully

2018 EnergyFunders Project Results and Returns

Our goal for 2018 is to bring 12 new Exploration projects to the EnergyFunders Black upstream platform to allow accredited investors to buy into top tier oil and gas exploration and development wells directly online. 2018 is the EnergyFunders growth and breakout year. We have new and old operators, big upside potential, and direct access to fair industry deals.

EnergyFunders hopes that you will sign-up for our platform and support transparent and real energy deals that we facilitate on the platform.

EnergyFunders Project Results

Private (**Private**)

Results: Fundraising

Fundraising on the EF Black platform.  Available to accredited investors only.  Please login to view this private placement.

EnergyFunders Project Results

Wolf Creek (EF VC22, LP)

Results: Drilling September 2018

Funded the project in August 2018. Drilling began September 10, 2018.

Private (**Private**)

Results: Fundraising

Fundraising on the EF Black platform.  Available to accredited investors only.  Please login to view this private placement.
EnergyFunders Project Results

Boleed East (EF VC20, LP)

Results: Drilled May 2018; Found 3 sands (water filled); Dry hole; Refunded unspent Completion & Facilities capital to investors.

The Boleed East with Orbit Energy was one of our smallest but fastest raises on the platform, raising completely in under 3 days. It's not very often that you get an opportunity to drill 1 well and test 3 potential pay zones from 3 different strong seismic amplitudes. The location of the Nicholas Hundley #1 well is in a prime spot to produce the Leonards (Miocene) L-5 and test the L-1 & L-6 sands. Planet & Orbit drilled the well on time and on budget. Mud logs and triple-combo logs confirmed that 3 sands were present but oil and gas was not properly trapped. The Nicholas Hundley #1 well was plugged in June 2018. After paying all invoice, investors were refunded the remaining funds and EF VC20 was closed.

Woodbrook #2 (EF VC19, LP)

Results: Drilling 

The Woodbrook #2 is a development new drill well brought to the EnergyFunders platform by Mertz Energy. The Woodbrook #1 is a successfully producing Cockfield oil well drilled in 2015 by Mertz. The Woodbrook #2 well is a step out to the #1 well and offers a lower risk investment opportunity to many of the other exploration projects on the platform. Development will begin in July 2018 and results should be realized quickly since the #1 facilities and pipelines are already in place.

Northside High (EF VC18, LP)

Results: Drilling/Spud date Q4 2018

The Northside High is a shallow, vertical exploration well targeting an OIL-RICH Cockfield (Yegua) formation. The Northside High project is a 55-acre trap along a well-defined sand trend in Beauregard Parish, LA. The project calls for the drilling of a new vertical well on the acreage in April 2018. Analogous producing wells to the Northside with same stratigraphic setting and strong seismic produced 400,000 BO. Fundraising finished in April 2018. Drilling to commence in Q4 2018.

Moonraker (EF VC17, LP)

Results: Producing Homeseekers formation - 200 bopd; 0 bwpd on 13/64 choke

We started the year off with a quick raise on the Moonraker. It was an opportunity with a short fuse for us to raise the final 5% working interest before the operator began drilling in the next 2 weeks. We successfully raised the funds in 10 days and began drilling in February 2018 and continued into March 2018. Primary target was Tweedel (Frio) and secondary objective was Homeseekers. Tweedel was drilled and was a dry hole. Sidetracked the well to target Homeseekers A, B, and C. Logs and cores on the Homeseekeers showed oil. The Homeseekers A was completed and tested 200-500 bopd. The well was shut-in, surface facilities constructed, and pipeline placed. Began production on 8/24/18.

2017 EnergyFunders Project Results and Returns

2017 was a transformative year for EnergyFunders. For the first 6 months EnergyFunders paused upstream fundraising and focused on building new technology, adding personnel, and redefining opportunity criteria and analysis. Based on this work EnergyFunders shifted our strategy and investments to the “Explore - Develop - Operate” model. We subsequently spent many months continuing to build relationships with top tier operators with extensive track records of success. These new operators primarily explore for oil and gas in the Gulf Coast region of Texas and Louisiana.

EnergyFunders Project Results

Sirius Black (EF VC16, LP)

Results: Drilled; Dry hole; Temporarily Abandoned

The Sirius Black is a project with one exploration well (9,700’) with an upside of one potential additional development well. We drilled the well in March-April 2018. Successfully drilled to 10,000' with no shows. Temporarily abandoned the well. Settled up bills and refunding completion capital to investors. Operator negotiating sale of the wellbore.

Two for the Show (EF VC15, LP)

Results: Producing

The Two for the Show is a 6,700’ exploration well and oil prospect with development upside. This prospect had a strong seismic (AVO anomaly) show. In March 2018, the operator finished drilling, coring, and logging the well. Well began producing June 2018. 

Theall (EF VC14, LP)

Results: Discovered 50-70' of main pay; completing and putting on production

The Theall Prospect is a deep, directional gas exploration well (16,000’) testing 4 pay sands in the Siph Davisi & Planulina sands. To create the drilling unit required hundreds of individual signatures in Southern Louisiana, which caused delays while contract, legal, and land work could be completed. Fortunately, Houston Energy is a sophisticated and competent operator that overcame these land challenges. The project began drilling August 2018 and ultimately drilled 13,600' TVD with 3,000' of deviation. We discovered 50-70' of pay in the Planulina 1 sand and 6 additional uphole potential zones after the Plan 1 is finished producing. Production on Bradley #1 expected to begin by November 2018.

Now or Never (EF VC12, LP)

Results: Began producing in May 2018; currently producing 700 Mcfd & 11 bopd

The Now or Never is a deep vertical exploration well targeting the Wilcox gas-filled sands between 9,000 and 13,000’. We discovered deep pay sands with gas but they were tight when perforated and flow tested, requiring expensive fracs to test their productivity. The decision was made to complete and produce the Upper Wilcox sands where porosities and permeabilities were higher. The flow tests justified installation of facilities and flowlines. Oil & gas production began May 2018. First revenue checks expected in July 2018.

Hagler SW #2 (EF VC11, LP)

Results: Currently producing 10 bopd, investors receive monthly revenue distributions, and we’re continuing to develop the lease.

The Hagler SW lease is an initial 3 new drill development fund in Coleman County, TX. This fund is a complement to EF VC8, LP. These wells target the Capps Limestone and were successfully drilled and began production in 2017. The 3 wells continue to produce ~10 bopd every month.

2016 EnergyFunders Project Results and Returns

After 2015 EnergyFunders began searching for more established small operators in Texas, Louisiana, and other states where most of the historical production exists in the United States. But still focusing on conventional operators that are overlooked by Private Equity dollars due to scalability and localization of assets. After the immense interest from investors to participate in 2015, it was time to start refining our due diligence process. We added a third party reservoir engineer to the funding expense and continued to grow and fundraise.

EnergyFunders Project Results

Morrison-Davis (EF VC10, LP)

Results: Morrison = dry hole; Davis = producing 

The Morrison-Davis project was a two lease development in Coleman County, TX. The Morrison lease was drilled and tests showed it to be a marginal producer; not enough to build facility and put online. On the Bonnie Davis lease, the #1 well was drilled and had a great show in a prolific zone. At first the completion was thought to be a failure due to high water production. Operator was able to find water disposal in the area and began testing Bonnie Davis #1 and trucking the produced water. Current production: 10 bopd & 50 bwpd.

KDM-Bonfire (EF VC9, LP)

Results: Great shows, frac’d and produced mostly water with marginal production. SWD repaired. In process of selling lease and transferring ownership.

This project was a three well rework. It included one re-entry into an existing well, one saltwater disposal well (SWD), and one new well to be drilled. Oil production and revenues were realized on the re-entry but after 2 months the zone “watered out” and oil production fell off. The SWD well was repaired and is functional. The new drill was nearly all water production after testing. Confirmed that lease is depleted/waterflood swept, SWD is functional.

Hagler SW #1 (EF VC8, LP)

Results: Producing 9 bopd, investors receive monthly revenue distributions; the fund and operator is continuing to develop the lease.

The Hagler SW lease is an initial three well new drilling project in Coleman County, TX. This fund is a complement to EF VC11. These wells target the Capps Limestone and were successfully drilled and began production in 2017. These wells continue to produce and pay investors, producing approximately 2 loads of oil each month.

2015 EnergyFunders Project Results and Returns

This was the “proof of concept” year. We crowdfunded the first upstream oil and gas projects in the world. The original project targets were to fund “small operators that are overlooked and underfunded”. Being our first year of fundraising online EnergyFunders experienced platform growth and success but there was a learning curve to diligencing projects. Subsequently, EnergyFunders continued to refine our investment targets and investor education strategy.

EnergyFunders Project Results

Diemer (EF VC7, LP)

Results: Drillbit stuck while drilling SWD; Operator went bankrupt; Project is a “dry hole”

This project was re-entering 4 old wells. It included 3 producing wells and 1 Saltwater Disposal (SWD). This lease was marginal without SWD, but profitable if we could get the SWD back online. Unfortunately, the SWD remediation was unsuccessful and the Operator and fund ran out of money. Operator filed for bankruptcy. EF VC7 considers project a “dry hole” and moved on.

Kelcas Ohio River, Kentucky (EF VC6, LLC)

Results: Continue marginally producing vertical wells. Horizontal potential exists on lease in the future.

The original scope of the project involved a 12-well development program over time. We tested the first 4 wells and made the decision that we should halt development. Subsequently, 60% of the capital raised was returned to investors March 2016 after it was determined that further development had a negative outlook. Investors are currently receiving small quarterly distributions.

Kansas Legacy Project (EF VC5, LLC)

Results: Original operator walked away; one year later new operator instated; wells are being put back online

The operator purchased 13 leases out of a “short sell”. Of the thirteen leases that were acquired in the package, only 2 (Grundy & Holmers) are going to be productive. After performing remedial work, saw production up to 12 bopd. Unfortunately, the operator walked away due to personal circumstances. EF VC5, LLC was restructured with a new operator in place. The new operator is working to put the wells back online and resume production.

Archer County Project (EF VC3, LLC)

Results: Original operator walked away; Working with majority interest owner to sell

The Archer project’s scope was to rework and remediate 16 producing wells and 2 injectors in Archer County, TX. After unsuccessfully reworking 1 of the 2 leases, the original operator walked away. Working with majority interest owner to find a new operator or buyer of the lease and production.

Richey Lease, Coleman County (EF VC2, LLC)

Results: Producing 5 bopd & 50 Mcfd. Investors receive monthly distributions.

Three well re-entry. The first two re-entry were unsuccessful. The third well was successfully re-entered. In 2016 a cash call was required to repair the well’s casing. We successfully repaired the casing. Monthly oil sales began in November 2016 and have continued since, pausing briefly for casing repairs. The lease is now a steady producer.

Each above referenced venture capital fund and venture capital partnership fund (together, the “Funds”) are administered by EF Advisor, LLC or EF GP, LLC, which is owned and managed by EF Advisor, LLC, a wholly owned subsidiary of EnergyFunders, LLC, which owns and runs the platform at (collectively, all foregoing entities are herein known as “EF”).  Please contact EF for more information. EF is headquartered in Houston, Texas. This report is not a solicitation, nor a solicitation of an offer to purchase, any securities. All sales of securities are made through the investment portal pursuant to approved documentation, including a subscription agreement and a disclosure memorandum (together, the “Investment Package”).  These particular securities are available to accredited investors only. Neither the Securities and Exchange Commission nor any state securities authority or other regulatory authority has approved or disapproved the securities offered by the Funds, nor passed upon the adequacy of the Investment Package. Any assertion to the contrary is a criminal offense. Neither the Funds nor EF, nor any of its parent, subsidiary or affiliated entities, are registered investment advisors or registered broker-dealers.  EF Advisor, LLC is an exempt, reporting adviser that does not advise anyone other than the Funds. No adviser-client or broker-client relationship shall exist because of any purchase of securities from the Funds. All third-party data in this report is derived from sources that EF deems to be reliable, but has not been independently verified. Neither the Funds nor EF, nor any of its parent, subsidiary or affiliated entities, are responsible for any mistakes or misstatements in such data. Neither the Funds nor EF, nor any of its parent, subsidiary or affiliated entities, is responsible for any typographical errors. Investments can and do lose money. Results are not guaranteed. Trends observed in this report may not continue in the future. Read the Investment Package carefully before investing. Neither the Funds nor EF, nor any of its parent, subsidiary or affiliated entities, provides, or intends to ever provide information that shall constitute, legal advice, tax advice, or accounting advice. You should consult your legal, tax and accounting officer prior to making an investment or sending any money to EF or the Funds. Any income you receive from the Funds may be taxable. EF intends to fully comply with all applicable laws regarding the reporting of any income from the Funds to tax authorities.

EF, EnergyFunders, LLC and Advisor rigorously protects its intellectual property. Unless expressly set forth in writing, no license is granted, express or implied, to use the trademarks, service marks or copyrights of EF or its affiliates without the prior written consent of EF. No materials regarding the Investment Package may be copied, distributed, or shared with any third party without the prior written consent of EF.