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.