South Plains Petroleum

South Plains Petroleum

Early Stage

Rediscovering Energy

Rediscovering Energy

Overview

Raised this Round: Raised: $26,509

Total Commitments ($USD)

Platform

StartEngine

Start Date

05/20/2019

Close Date

08/19/2019

Min. Goal
$10,000
Max. Goal
$1,070,000
Min. Investment

$480

Security Type

Equity - Common

SEC Filing Type

RegCF    Open SEC Filing

Price Per Share

$1.60

Pre-Money Valuation

$8,313,000

Year Founded

2018

Industry

Energy, Power, & Natural Resources

Tech Sector

Location

Abilene, Texas

South Plains Petroleum, with a pre-money valuation of $8.3 million, is raising crowdfunding on StartEngine. The company uses modern technology to reevaluate old oil and gas wells data and find the remaining reserves in them. As a result, South Plains Petroleum gets to reduce its costs on exploration and infrastructure and get higher returns on investment. South Plains Petroleum was founded by Richard A. Quintal and Suzanne E. Ruffini. The proceeds of the current crowdfunding round, with a minimum target of $10,000 and a maximum target of $1,070,000, will be used for the acquisition of new oil properties and expansion. The company already holds options to purchase 17 existing wells and 50 developmental well sites.
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South Plains Petroleum on StartEngine
Platform: StartEngine
Security Type: Equity - Common
Valuation: $8,313,000
Price per Share: $1.60

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