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Citizen Energy launches $20mn drilling fund targeting the Anadarko Basin

Citizen Energy Ventures enters the private placement market with a $20mn fund to develop eight wells in the Cherokee Formation of Oklahoma’s historic Anadarko Basin.

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Citizen Energy Ventures has announced the launch of a $20mn fund dedicated to an oil and gas drilling programme in the Anadarko Basin, a historically active region of the US hydrocarbon industry. Named Citizen Energy 2025 Drilling Fund, LP, this new investment vehicle marks the company’s first move into the private placement market targeting non-institutional investors.

Based in Tulsa, Citizen Energy Ventures specialises in acquiring and operating oil and gas assets. Founder and President James Woods stated that the fund aims to “broaden access to drilling opportunities by leveraging a decade of operational expertise in the Cherokee Formation”. The fund will include interests in eight wells located in this formation, known for its conventional reservoirs and source rocks.

The Anadarko Basin targeted for geological stability

The Anadarko Basin spans nearly 50,000 square miles across four US states and reaches depths of over seven miles. It is one of the largest sedimentary basins in the United States, recognised for its proven reserves and existing infrastructure. The Cherokee Formation was selected due to the stability of its geology and the maturity of its deposits.

Even before the fund’s official launch, Citizen Energy Ventures raised more than $50mn from institutional investors and legacy partners to support its drilling schedule. This additional capital will enable asset diversification, cost optimisation and a sustained execution timeline.

A structured model for tax advantages

The fund’s legal structure allows investors to participate as general partners, granting access to direct tax deductions tied to oil exploration expenses in the US. This setup is designed to attract finance professionals seeking direct upstream oil exposure in a tax-advantaged framework.

The drilling programme will focus exclusively on mapped zones, aiming for long-term development rather than pure exploration. The launch reflects a growing trend among traditional operators to mobilise private capital for targeted projects in mature areas while broadening their investor base.

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