It's been some time since our last blog post and it's certainly not due to a lack of activity on our part. If anything, we've made more progress in the last few months with growing EnergyFundz than we have over the last year. So what's changed?
For a start, EnergyFundz has refocused to oil & gas royalties. Estimates from a University of Montana study (2012) and a Reserve Bank of Kansas City report (2014) put the value of royalty transactions between $22 - $39 billion . Furthermore, according to the same Montana study, there are an estimated 8 - 12 million private royalty owners in the US. All this to say the market for oil & gas royalties is incredibly large.
EnergyFundz's intent, however, remains the same. Connect buyers and sellers using a superior online platform utilizing the power of algorithms and data analytics. In addition, provide either side with the tools to valuate and analyze a royalty asset.
As with all startups, we're growing our team and adding new skillsets. We recently brought on a COO and looking to fill more roles - CTO, Reservoir Engineer and a Landman.
In October 2015, we entered EnergyFundz into a business plan competition through the City of Houston where we came 2nd. In January 2016, we entered another competition through the Houston Community College where we came 2nd again. Both competitions helped us refine the business, connect with valuable mentors/advisers and win prize money.
Going forward, we intend to launch the beta version of our web platform and invite select clients to try it out. We're working tirelessly with our developers to have this complete by the middle of July. If you are interested being a part of the beta users or joining our team - don't hesitate to contact us.