Mountain V Launches $20 Million Oil and Gas Fund
Mountain V Oil & Gas Inc., an oil and gas exploration and development company, has launched Mountain V 2024 Fund I, LP – a private placement investment for accredited investors with up to 468 available units of limited partner and general partner interests.
The fund aims to raise up to $20 million to capitalize on oil and gas opportunities in the southern Appalachian Basin.
“This fund represents a strategic opportunity for accredited investors to participate in a targeted oil and gas recompletion program,” said Mike Shaver, chief executive officer of Mountain V. “Our approach leverages Mountain V’s expertise and the favorable geology of the Appalachian Basin to unlock value for our investors.”
The fund’s primary focus will be the recompletion of up to 50 oil and gas wells located in Bell, Harlan, and Knox counties, all in Kentucky. These wells, acquired by Mountain V from AXP Energy LLC, will be recompleted using modern slickwater and proppant frac technology to enhance production from the Maxon Sandstone formation.
In terms of the oil and gas industry, “recompletion” refers to the process of re-entering an existing well to improve or restore it, usually with the goal to increase production.
“We have structured this fund to align interests between the company and our investors, ensuring that all parties benefit from the success of the recompletion program,” said Ganesh Sakshi, chief financial officer of Mountain V.
According to Mountain V, as an early investment incentive, there are additional units available for investments made before Oct. 31, 2024. There is also potential for additional wells based on offering success.
Mountain V Oil & Gas Inc. is a privately held oil and gas company with operations focused in the Appalachian Basin. The company specializes in the exploration, acquisition, and development of oil and gas properties with a commitment to operational excellence and investor value creation.
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