Oil & Gas Investment Joint Ventures
Western Capital, Inc. has operated as a Texas corporation since 1994. Its principal offices are located at 9668 Westheimer Rd. #200-305, Houston, Texas 77063. The company has pursued a policy of drilling low risk oil and gas prospects, usually in areas of proven production, primarily in the geographical areas of Texas and Louisiana. The company's specialty is in acquiring high quality leases in proven fields, usually surrounded by existing production. Engineering then seeks to tie in the location of the new prospect with the existing surrounding proven production, using 3-D seismic interpretation.
Oil & Gas Industry Experience
Experience has demonstrated this to be the lowest risk, and potentially highest reward method of operation. Western also participates with other select industry partners, in other projects which some of the partners may have originated. Western Capital, Inc. evaluates hundreds of prospects each year, but selects typically six to ten projects for development. There are numerous leases available for drilling and development, but only a select few meet the stringent criteria that Western's experienced team requires. The President of Western Capital, Inc., Daniel Walsh, has over 22 years experience in the domestic oil and gas industry, including such areas as New Mexico, Colorado, North Dakota, Texas, Louisiana and the North Slope of Alaska. Western Capital Inc. supervises and contracts the drilling, completion, and production phases of both oil and natural gas wells, in Texas and Louisiana, using premium quality contractors, such as Halliburton and Schlumberger, on each phase of the operation.
Joint Venture Oil and Gas Investing
Joint ventures are put together with a combination of individual accredited investors, and select industry partners. During the drilling and completion phase of the operation, investors are kept up to date on the progress, with regular letters, faxes or emails. Once the well is in production, Western's accounting furnishes each individual accredited investor with a monthly statement, showing amounts of oil and/or gas sold, the price received, and the net revenue due the investor, after deducting monthly lease operating expenses, etc. Investors also receive a 1099 statement each year from Western. Substantial tax savings can be realized with direct participation oil and gas investing (see heading on oil and gas tax advantages).
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