White River Energy Launches Tax-Advantaged Subsidiary
Oil and gas company White River Energy has established a subsidiary, White River Private Capital Management (WRPCM), offering tax-advantaged products.
The new firm’s first investor product is a $50 million intangible drilling cost deduction limited partnership – White River Energy Partners I LP.
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 US Gulf Coast Basin.
The company is deploying a hybrid public/private business model where it will be offering various tax-advantaged products, including intangible drilling cost deduction funds, 1031 exchange funds, and insurance designated funds in the oil and gas industry through a limited partnership model.
“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,” said Jay Puchir, CFO of White River Energy and manager of the fund.
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.
