South Plains Petroleum on StartEngine

Rediscovering Energy

Raise to date: $18,448

Reporting Date: 08/14/2019

Key Stats

Minimum Raise

$10,000

Maximum Raise

$1,070,000

Likelihood of Max Unlikely
Start Date

05/21/2019

Stop Date

08/19/2019

Days Remaining

N/A

Security Type

Common Stock

Investment Minimum

$480

Deal Type

No Review


Investment Summary

# of Investors

17

% of Minimum Raised

184

% of Maximum Raised

2

Momemtum

N/A

Dollars Per Day to Reach Max

$350,517

DPD* Committed

$217

DPD* Category

N/A

DPD* All Companies

$1,070


Commitments

Weekly Commitments ($)
Aggregate Commitments ($)

SEC Filing Data from Kingscrowd

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.

https://www.southplainspetroleuminc.com/

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