Core Insights - Citizen Energy Ventures has launched a $20 million private placement initiative aimed at oil and gas drilling in the Anadarko Basin, Oklahoma [1] - The Citizen Energy 2025 Drilling Fund will invest in eight wells within the Cherokee formation to establish long-term oil and natural gas reserves [1][4] - The company has previously secured over $50 million from institutional investors to support its drilling schedule and reduce operational costs [2] Company Strategy - The entry into the private placement market is a strategic move to extend the company's capabilities in identifying and developing oil and gas leases in the Anadarko Basin [3] - The fund is structured to provide direct tax benefits to investors participating as general partners [2] - The management team has over ten years of experience in the Cherokee Formation and other productive zones [3] Operational Background - The Anadarko Basin covers nearly all of western Oklahoma and extends into three other states, spanning approximately 50,000 square miles (80,467 km²) and reaching a depth of seven miles [3] - The Cherokee formation contains conventional reservoirs and source rocks with established reserves [4] - Citizen Energy Ventures has drilled and completed more than 300 horizontal wells in the Anadarko Basin since 2012 [4] Recent Developments - Validus Energy signed an agreement to acquire Citizen Energy for over $2 billion last year [5]