(WO) — Citizen Energy Ventures has brought eight wells into production in Oklahoma’s Anadarko basin and is advancing its 2026 drilling program, which includes plans to develop up to 12 additional wells targeting the Cherokee Formation.
All eight wells associated with the company’s 2025 drilling fund were producing as of the end of August 2026. The program, which deployed more than $80 million in retail, institutional and management equity, is now substantially complete. According to Citizen Energy, all eight wells were completed at or below their authorized expenditure budgets.
The company is continuing development through its 2026 drilling fund, launched earlier this year as a $20 million private placement offering with an option to increase equity funding to $30 million. The fund will participate alongside institutional investors, previous investors and management in drilling and completing up to 12 wells in the Cherokee Formation.
Citizen Energy said the program builds on its existing development strategy in the Anadarko Basin, targeting long-life oil and natural gas reserves.
“Our team has spent more than a decade developing the Anadarko basin, drilling and completing more than 300 horizontal wells in the region,” said James Woods, founder and president of Citizen Energy Ventures.
“Operational execution is critical to our drilling programs, and the results speak to that discipline, including bringing production online quickly in a complicated macroeconomic environment.”
Before launching the 2026 fund, Citizen Energy’s management team raised more than $100 million from institutional and previous investors to support its drilling schedule, diversify well participation and improve operational cost efficiencies.
The Anadarko basin extends across western Oklahoma and portions of neighboring states. Citizen Energy’s latest drilling program focuses on the Cherokee Formation, continuing the company’s development of oil and natural gas resources in the region.
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