Five States Energy Closes 30th Income Fund with East Texas Acquisition

Five States Energy announced the final close of its 30th income fund—Five States Energy Income (“FSEI 2023”)—on January 31, 2025. On the same day, the fund launched its first investment: a $9 million acquisition of producing, oil-rich properties in the East Texas portion of the prolific Austin Chalk trend.

For this transaction, Five States partnered with Burk Royalty Company, a respected, family-owned operator based in Wichita Falls, Texas. Burk Royalty acquired approximately 80% of the package and will serve as operator, while FSEI 2023 purchased the remaining interest as a non-operated working interest owner.

During due diligence, Burk Royalty’s experienced operations team identified multiple opportunities to increase production, reduce costs, monetize idle equipment, and pursue non-traditional revenue streams. Their proven ability to enhance value makes them an ideal partner for this investment.