Citizen Energy Ventures has brought eight new wells into production in the Anadarko Basin located in Oklahoma. These wells have been put into operation as part of the company's 2025 drilling program and are reported to be producing by the end of August 2026. The program has been significantly completed with an investment of over $80 million from retail, institutional, and managed investment sources. All eight wells have been brought online within their budgeted costs.
Details of the 2026 Drilling Program
Citizen Energy continues its development through the 2026 drilling program, which was launched earlier this year as a private offering for $20 million, with the possibility of increasing funding to $30 million. This program will involve drilling and completing up to 12 wells in the Cherokee layer in partnership with institutional investors, previous investors, and management.
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This program continues the company's existing development strategy in the Anadarko Basin, focusing on long-lived oil and natural gas reserves. James Woods, founder and president of Citizen Energy Ventures, has stated that our team has been developing the Anadarko Basin for over a decade and has drilled and completed more than 300 horizontal wells in the area.
Operational and Financial Significance of the Program
Woods also highlighted the importance of operational execution in drilling programs, stating: "Operational execution in our drilling programs is critical, and the results reflect this discipline, including the rapid ramp-up of production in a complex macroeconomic environment." Prior to launching the 2026 program, the management team at Citizen Energy raised over $100 million from institutional and previous investors to assist with its drilling timeline and diversify well participation while improving operational cost efficiency.
The Anadarko Basin extends across western Oklahoma and parts of neighboring states. Citizen Energy's recent drilling program focuses on the Cherokee layer and continues to develop the company's oil and natural gas resources in the region.
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