FAYETTEVILLE, Ark.--(BUSINESS WIRE)--White River Energy Corp (OTCQB: WTRV) (“White River Energy” or the “Company”), a vertically integrated energy company with oil and gas exploration, production, and drilling operations on approximately 34,000 cumulative acres of oil and gas mineral leases in Louisiana and Mississippi, announced that it has established White River Private Capital Management (“WRPCM”), a wholly owned subsidiary.
White River Energy’s current business is focused on oil and gas exploration and production by drilling new wells and performing reentry and recompletion procedures on existing wells, primarily in the U.S. Gulf Coast Basin. With the launch of WRPCM, the Company is deploying a hybrid public/private business model where it will be offering various tax-advantaged products such as intangible drilling cost deduction (“IDC”) funds, 1031 exchange funds, and insurance designated funds in the oil and gas industry via a limited partnership model. WRPCM’s first investor product is a $50,000,000 IDC limited partnership called White River Energy Partners I LP (“WR Fund I”). Any future products will be subject to regulatory compliance.
"We are excited to announce the launch of White River Private Capital Management. This venture signifies not only just an avenue for growth for our company, but a commitment to generating value in a non-dilutive manner for our common stockholders while providing the opportunity for tax optimization and investment returns for our private investor partners. Our drive has always been to innovate and adapt, and this new chapter will allow us to further solidify our promise to the market," stated Randy May, Chairman & CEO of White River Energy.
“We are not aware of any other public oil and gas exploration and production company who has deployed this unique public/private business model with its own structured financial product development and distribution team. Additionally, WRPCM has branded its logo without the pump jack in the corporate logo to give it the flexibility to structure product offerings in other sectors at a future date,” stated Jay Puchir, CFO of White River Energy and Fund Manager of WR Fund I.
WRPCM’s newly launched website, which includes additional information, can be accessed at https://wrprivatecapital.com/. The WRPCM team will be led by a seasoned executive team with a proven track record which will be announced via a separate release at a future date.
About White River Energy Corp
White River is a vertically integrated energy company with oil and gas exploration, production, and drilling operations on approximately 34,000 cumulative acres of oil and gas mineral leases in Louisiana and Mississippi.
Cautionary Note Regarding Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding expectations with respect to WRPCM and the investment vehicles and opportunities it offers, including the potential for growth, generating value, and future offerings following the launch of WR Fund I including potentially in other sectors. All statements other than statements of historical facts contained in this Report, including statements regarding our future financial position, liquidity, business strategy and plans and objectives of management for future operations, are forward-looking statements. The words “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “could,” “target,” “potential,” “is likely,” “will,” “expect” and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs.
The results anticipated by any or all of these forward-looking statements might not occur. Important factors, uncertainties and risks that may cause actual results to differ materially from these forward-looking statements include the possibility that the Company and WRPCM are unable to acquire a registered broker-dealer to conduct additional offerings or otherwise meet the regulatory requirements of their offerings and related activities including compliance with the Investment Company Act of 1940, the risk that drilling projects pursued by WRPCM’s investment offerings do not result in productive or profitable oil wells, oil and gas price volatility and the continuation of high oil prices, regulatory developments and challenges including the potential impact of the Securities and Exchange Commission’s (“SEC”) proposed climate change rules on White River Energy, WRPCM’s operating partner, including enhanced regulatory compliance costs, the Russian invasion of the Ukraine, inflation and central bank interest rate increases in response thereto on the economy including a possible recession which could result, supply chain shortages, the future prices of, and demand for, oil and gas, our ability to efficiently develop our current oil reserves and economically find or acquire additional recoverable reserves, and general risks related to drilling operations, together with those risk factors contained in White River Energy’s Registration Statement filed with the SEC, as amended (File No. 333- 268707), as supplemented from time-to-time, together with other SEC filings made by White River Energy. We undertake no obligation to publicly update or revise any forward-looking statements, whether as the result of new information, future events or otherwise.