In 2010 B.I.G. Drilling acquired Viesca Oil and Gas, a drilling fund promoter focused on offering competitive oil and gas investment opportunities through direct participation programs. Following its purchase of Viesca, B.I.G. began a lease acquisition program, focusing on Viesca's four core business components:
I. Acquire high quality leasehold interests in proven oil and gas regions in the State of Texas
II. Hire qualified, experienced, and reputable industry operators to handle the drilling and operations of our prospects
III. Form investment partnerships for the purpose of funding the exploration and production of oil and gas from these prospects
IV. Offer competitive investment opportunities through direct participation programs which offer investors potential long term cash flow and a guaranteed tax shelter
Please visit the Viesca Oil and Gas website for more information:
History of Viesca Oil and Gas
Viesca Oil and Gas, f.k.a Viesca Petroleum, was formed in 1987 to harness the rich oil resources of Texas. Viesca and its founders have witnessed firsthand the development of new procedures for extracting oil from existing formations. While they have adopted progressive oil recovery technologies, Viesca remains wed to its principles and a focus on the investor's economics. Central among these principles is an adherence to the age old maxim "oil is found where oil has been found". A tremendous amount of investment capital has been lost drilling wells where the operator is certain that there is a rich pool of oil only to discover that the well failed to produce. Viesca, on the other hand, prefers to invest in existing fields which have proven production successes.
For over 20 years, we have followed the simple but effective model of drilling low risk, high tax leveraged oil and gas prospects. The company's unique model lies in acquiring high quality leases in proven areas, which are surrounded by existing production. Viesca then assigns that lease to a qualified, experienced, and reputable industry operator, who will look to tie in the location of the new prospect with the surrounding existing production, often utilizing 3D seismic interpretation. Choosing prospects in proven areas can provide a hedge against investment loss, and has proven to be a much safer alternative to wildcat exploration.
As an additional benefit, the majority of the investment in a Viesca-sponsored partnership can be immediately deductible by the investor against existing ordinary income tax liability. This tax advantaged investment aspect is another hallmark of our business strategy. The tax advantaged structure makes every investment better. For the high net worth individual who is facing a large income tax liability, a tax advantaged investment in oil production may provide the optimum solution, an excellent cash-flowing investment, and an income tax deduction for the investment at the time of investment.
Currently, B.I.G. has a 50% leasehold interest in four separate leases covering a combined 2,049 acres. Three leases are located in the storied Corsicana Oil Field - the other is in the prolific Barnett Shale. In partnership with Azteca Petroleum LLC., B.I.G. will look to further develop these leases with funds sourced through a Limited Partnership program named Viesca Drilling Fund I. The objective of this program is to provide its investors with a substantial tax shelter equal to 100% of the investment, a large equity holding in multiple, high quality oil and gas assets, and a long- term and lucrative income stream with multiple return potential.
Copyright © 2011 BIG Companies. All rights reserved.
1717 McKinney Ave Suite 850
Dallas, Texas 75202
Phone: 214-942-5333
Fax: 214.754.4702