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South Plains Petroleum, Inc.

Operating

South Plains Petroleum Inc

Energy & Cleantech · Abilene, TX

Rediscovering Energy

Post-money valuation ⓘ
$8.3M
As of Aug 2019 · from Reg CF Offering (2019) · pre-money + amount raised, not a traded price
Total raised
$46,509
Crowd $27K · Private $20K · 2 rounds since 2019
Latest share price
$1.60
Reg CF · Common Stock · May 2019 offering price

Financials

FY2017–FY2018 · from SEC filings · hover any figure for its source
$0
−$80
2017
$0
2018
RevenueNet income — beside revenue when positive, below the line when a loss
Metric
FY2017 reviewed*
FY2018 reviewed*
Income statement
Revenue
$0
$0
Cost of goods sold
$0
$0
Net income
-$80
$0
Taxes paid
$0
$0
Balance sheet
Cash
$320
$0
Accounts receivable
$0
$0
Total assets
$320
$0
Short-term debt
$0
$0
Long-term debt
$0
$0
Total liabilities
$0
$0
Other
Headcount
—
4

Figures as reported by the issuer in the filing shown on hover. Each year’s pill shows the assurance level of its filed statements — audited, reviewed (CPA review, less than an audit), or unaudited, as the filing’s own report or certification states it. A dashed pill marked * is inferred instead: the SEC minimum for an offering that size, which the issuer may have exceeded. No pill means we couldn’t tell. Headcount is the filing’s point-in-time count, not a year-end average. Manually corrected figures are marked “Corrected”.

Valuation over rounds

Pre-money — the valuation set before each round’s money came in
$8.3M
pre-money
Reg CF · Common · May 2019

Blue bars are the pre-money valuation the company stated for a priced round.

Fundraising history

Raised $20KInvestors 1
Raised $26.5K / $1.1MInvestors 27Post-money $8.3M

Team

5 people
Richard A. QuintalFounder
President

Mr. Quintal joined Landmaster Partners, Inc, in 2009 as Vice President during the drilling of their first well. He brought a vast business knowledge to the company. Working with the legal side of the business he reviewed possible merger candidates, details of oil property acquisitions, title opinions, contracts, attorneys, litigation and fundraising. He was also responsible for office personnel and day to day operations of the company. Mr. Quintal worked with several funding groups and oversaw financing of various oil projects. Mr. Quintal’s knowledge of construction helped with lease negotiations and to appease landowners wary of oil operators. Mr. Quintal has an uncanny eye for detail and preparedness for any and all operations. His attention to detail has paid off time and again when equipment failures occurred as they will and his ideas for backup and/or replacements saved the company both down-time and expense. Prior to entering the oil and gas business Mr. Quintal’s background included acting as owners’ representative on the 50 story Thanksgiving Tower in downtown Dallas where he oversaw the tenant finish out projects ranging from $100,000 to $12 million. Mr. Quintal will revert to a Board Member upon the acquisition of Black Gold, Inc. whereupon Nic Boatwright will become the CEO and President of South Plains Petroleum, Inc.

Suzanne E. RuffiniFounder
Board Member Upon Acquision of Landmaster Partners, Inc. Assets

Ms. Ruffini founded Landmaster Partners, Inc. in 2008 as its sole shareholder, officer and director. She utilized her knowledge of running a Naples, Florida construction office and dealing with subcontractors as a background to build Landmaster Partners, Inc. A quick study, she soon had a team of trusted professionals she called her “Go to Guys” whereby she passed all her opportunities for their expert opinions regarding the worthiness of her time and money. Ms. Ruffini brought in a select few as key investors and slowly began building the company into a niche of acquiring small oil properties with additional reserves behind pipe. After several small successes, she asked her “team” why she wasn’t making more money to which they answered, “you have to take bigger risks to make more”. She quickly sold a number of those small properties and upon the advice of her “team” acquired the Swenson oil property. After working with it for a year, she instructed her team to look for the not so obvious. One of her field supervisors pointed out that several of the old wells in the field had run Drill Stem Tests over the Upper Swastika Sand and never recovered anything, but that they must have seen something in the samples to indicate oil or they would not have run the tests. A recommendation was made to test the drilling breaks in the Swenson 14 well and when it was tested, it came in over 270 BOPD. Ms. Ruffini then hired a geologist to conduct mapping of the field and further recommendations. Ms. Ruffini’s forte is in oversight, insight and communication skills. Her vivacious character instantly melts even the hardest of heart to open up and indulge her requests. Through her tenacious attitude, she built Landmaster and now is looking to move on to the next plateau with SPP.

Nicolas Boatwright
CEO Upon Acquisition of Black Gold,Inc. Assets

Age 39 – At the age of 20, Mr. Boatwright began working on offshore platforms throughout the Gulf of Mexico, working on drilling rigs and production platforms. Through “hands on experience” his vast knowledge and expertise include but are not limited to deep water drilling, work over and completions, wire line operations, coiled tubing operations and production of oil and gas. Mr. Boatwright has also developed and established his own multi-million corporation, Black Gold, Inc. He has introduced cutting edge technology with an artificial lift product and radial drilling perforations on land based wells; saving companies 50% of their overall expenditures as well as huge gains in well production. Within the last six years of developing and growing Black Gold, Inc., Mr. Boatwright has gained the confidence and business of well known associates and acquaintances worldwide. He has worked with several companies to develop multi-million projects by providing excellent service to maximize profits. It is anticipated that Mr. Boatwright will become the President and CEO of South Plains Petroleum, Inc once the acquisition is completed. SPP’s current management shall remain involved as advisors and operators of some of South Plains Petroleum, Inc oil properties.

Richard Quintal
CEO, Principal Executive Officer and Director, Principal Financial Officer and Principal Accounting Officer
Mark Canning
Director of Marketing & Technology Upon Acquisition of Black Gold, Inc. Assets

Mark Canning, aged 44, is Irish and an internet marketing professional with over 20 years international business experience. He has over 10 years’ experience in enterprise Search Engine Optimization and has worked with Fortune 500 companies including Allstate Insurance Company on internet marketing strategies. Mark has also worked in the environmental waste and recycling industry as an internet advisor, working with Sims Metal PLC, European Metal Recycling, Biffa and the UK Environment Agency. Mark is a computing graduate from Ulster University in Coleraine, Northern Ireland and a Management Graduate from Harvard University, Cambridge, Massachusetts. Mark’s experience and knowledge is expected to keep South Plains Petroleum’s investors and shareholders well informed of Company achievements and events through timely press releases and updates via the internet. He will also be responsible for brand development online and managing our online communities.

Names and titles as disclosed on StartEngine, SEC Form C. Bios and photos come from the platform campaign page and may be out of date.

Reg CF annual-report compliance

Delinquent

Filed 0 of 7 annual reports (FY2019–FY2025)

Missing: 2019, 2020, 2021, 2022, 2023, 2024, 2025

27 investors
holder-count proxy

Reg CF issuers must file a Form C-AR each year until a Rule 202(b) termination trigger is met.

SEC filings

  • Form DMar 6, 20200001391609-20-000019
    EDGAR
  • Form C-UAug 22, 20190001665160-19-000861
    EDGAR
  • Form C/AAug 15, 20190001665160-19-000854
    EDGAR
  • Form C/AAug 9, 20190001665160-19-000843
    EDGAR
  • Form CMay 21, 20190001665160-19-000656
    EDGAR
Source: ManualCIK 0001775588TXShare price $1.60

About this data. Figures are compiled from public sources — SEC EDGAR filings (Form C, C-AR, 1-A, 1-K) and funding-platform pages — and may be delayed, incomplete, or restated by the issuer. Financial statements are as reported by the issuer; each year is labeled with its assurance level (audited / reviewed / unaudited). A valuation cap is the conversion ceiling of a SAFE or convertible note, not an agreed company valuation; post-money figures are computed as pre-money plus amount raised and are not a traded price. Crowdonomics is not a broker-dealer, funding portal, or investment adviser; nothing here is investment advice or an offer to sell securities. Verify all figures against the linked EDGAR filings.