November 27, 2014 11:41 AM ET

Oil, Gas and Consumable Fuels

Company Overview of BCM Energy Texas, LLC

Company Overview

BCM Energy Texas, LLC owns and operates oil wells. The company was incorporated in 2011 and is based in Houston, Texas. BCM Energy Texas, LLC operates as a subsidiary of BCM Energy Partners, Inc.

6363 Woodway Drive

Suite 820

Houston, TX 77057

United States

Founded in 2011

Key Executives for BCM Energy Texas, LLC

BCM Energy Texas, LLC does not have any Key Executives recorded.

BCM Energy Texas, LLC Key Developments

BCM Energy Texas, LLC Signs Agreement to Acquire Leases, Wellbores and Existing Production in East Texas

BCM Energy Partners Inc., through its subsidiary, BCM Energy Texas, LLC, has signed a purchase and sale agreement to acquire leases, wellbores and existing production in East Texas from subsidiaries of New Times Energy Corp. for total consideration of $2,800,000. Closing is expected to occur by late February 2013, whereby BCM Energy Texas, LLC will pay $300,000 cash and $2,500,000 in the form of a convertible note, strike price of $2.90, in exchange for 22 primary leases including 42 wells and related equipment of which 10 are producing approximately 14 bopd (barrels of oil per day). Total reserves are 187 mbo (thousands of barrels), a PV10 value of $2,814,000, which BCM Energy Partners expects to be able to increase through new engineering and geological studies. Additionally, the company believes that EOR (Enhanced Oil Recovery) techniques can further improve the value of this acquisition. The East Texas Field is located in the East Texas Woodbine, Quitman, SE and Nova Fields within the North Eastern region of the State of Texas. The East Texas Field was discovered in the 1930s and covers 140,000 acres (570 km2) and parts of five counties.

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