Want To Strike It Rich? Now You Can Crowdfund Oil Wells In Texas

March 23, 2015 5:00 AM

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Want To Strike It Rich? Now You Can Crowdfund Oil Wells In Texas

HOUSTON, March 23 (Reuters) - Would be wildcatters and investors hoping to strike it rich in oil can now turn to crowdsourcing, a way to raise money more synonymous with aspiring filmmakers than roustabouts in West Texas.

Equity crowdfunding, or raising capital directly from a large group of investors, is widely used for projects from technology to fashion. Now, at least two small Texas firms are testing the concept in the oil and gas industry.

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