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Permian-Focused Fund Hits $15 Million Investment
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Redhawk Resources Management III, LLC announces the fulfillment of its Redhawk Resources - Fund III, LP.
Jack Nichols, Executive Chairman of Redhawk Resources Management III, LLC and Managing Partner of Redhawk Investment Group, LLC, said, "The fund has been fully subscribed and is closed for further investment. It has been a team effort."
The fund is located just north of Fort Stockton, Texas. The 3800-acre project consists of the purchase of 70 conventional vertical bore wells originally developed and drilled by Gulf Oil Corporation. In conjunction with StableRock Energy, the operating entity, the partnership plans to enhance and develop the project into a water flood over the next 24 months.
The goal is to re-work approximately 20 of the existing wells to pump off a significant amount…
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