Five States is celebrating our 30th year in business! We gratefully acknowledge the confidence and support of the many financial advisors, investors, business associates, employees, and friends who have been a part of our success and growth through the years.
Many of the company’s current activities are “business as usual”: reviewing investment submittals, analyzing and evaluating prospective projects, making lease inspections, and visiting construction and development sites. This year we are making special efforts to initiate new industry contacts, strengthen existing relationships with current investors and advisors, increase our visibility by sponsoring more industry events, and provide opportunities for staff members to be featured speakers at professional and trade association meetings.
To that end, Five States recently hosted a three-day investor field trip to Midland. Fourteen individuals attended, including five from Five States and nine guests representing seven investment groups from around the country.
A brief reception at the Doubletree Hilton kicked off the first evening, followed by dinner at the nearby Wall Street Café. On the morning of the second day, an orientation at the Permian Basin Petroleum Museum introduced the group to the Permian Basin’s geology and oil industry history. Everyone had the opportunity for up-close inspections of a drilling rig, pumping units, and other types of production equipment.
Following lunch, the group visited facilities of the Advantage Pipeline System, an 87-mile pipeline from Pecos to Crane, Texas, in which Five States’ Fund 1 has a substantial investment. The facility includes oil truck off-loading facilities, storage tanks, and pipeline pump stations. The Advantage Pipeline System currently gathers and transports more than 70,000 barrels of oil per day, delivering them into the Longhorn System that moves oil from West Texas to refineries on the Texas Gulf coast.
That evening, Five States hosted a celebratory anniversary reception at the Petroleum Club of Midland for our guests, as well as many of Midland’s independent oil men and women. Investors had a great opportunity to meet with and ask questions of knowledgeable and experienced professionals.
After breakfast on the third day, we visited a rail terminal which handles tank cars transporting oil produced nearby, as well as open-top rail cars that bring in frac sand used in wells to hydraulically fracture dense, oil-bearing rock formations. Guests expressed appreciation for the visit and said that they had learned much about field operations during their brief time in Midland.
Five States will continue to work throughout this year to expand our network of business associates and to uncover opportunities that can provide lucrative results to our investors in the months and years ahead.