Post on 05-Dec-2014
description
Jeff Voncannon
President & CEO
Who am I?
• 22 years running the Redman name w/ 60% IRR on 28 investments
• Portfolio approach to direct participation in oil and natural gas reserve development opportunities
Jeff, What on earth have you been up to?
• Est. Nov 2013. A company powered by Redman, fueled by GSO Blackstone
• Second entrant model into emerging exploitation of unconventional and conventional resources plays.
Target Investments
• Typical entrant point is $25mm - $100mm of capital.
• Target out-of-favor basins, distressed assets;• Create opportunities from restructuring and
divestures; • Use proven technologies in new or novel ways
to create value. • Establish long term relationships with younger
management teams to joint venture.
What we’ve done in 10 months
WyCross Acquisition Dec. 2013
• F-250 closes on Abraxas Petroleum Corp's Eagle Ford assets at WyCross in Northern McMullen County, TX for $73 Million.
• 6000 Acres • 13 wells drilled • Net production at 500 BOEPD• average WI: 21.875% and NRI: 16.401%. • 80 plus development wells on 40 ac. spacing.
Tullos Acquisition May 2014
• F-250 Executed definitive Agreement to Purchase conventional oil assets in Louisiana from Quantum Resources
• 1540 net contiguous acres • 100% HBP, 100% WI and 80% NRI • Field has produced 20MMBO from the Wilcox
formation. Field gross production at ~ 700 BOEPD.
• 235 gross drilling locations.
Prospect Name: “Miss Piggy” Sep. 2014
• F-250 closes on development AMI in West Texas. Initial wells to be drilled 1st quarter 2015.
• Multiple objectives, potential of 200 locations. 80% Working Interest.
• We wanted all of it, but Pigs get fat and Hogs get slaughtered!
What’s Next
• F-350 – Company formed around acquired properties that need general production enhancements
• F-450 - The Dump Truck Vehicle where we deposit F-250 and F-350 company assets into a private MLP
• F-150 - Projects which are pure exploration in nature when warranted, and are risk adjusted.
Two Ways to transact with RMC/F-250
•Help F-250 get gassy! • Join RMC Team!
Help F-250 Get Gassy!
• Want to trade?• Non-op interest at Wycross or a portion
of it, for a gas dominate asset with similar production or producing profile.
• The cash flow from the F-250 WyCross asset will totally fund a one rig continuous pad drilling program with 70 plus locations.
Join RMC Team!
• We at Redman are intentional at mentoring the next generation of energy industry leaders
• We develop FAT people • Faithful • Available • Teachable
Yesterday is history, tomorrow is a mystery, but today is a gift. That is why it is called the present
Reach Out To Us
RedmanMC.comInfo@RedmanMC.com
F250LLC.com