"I’ve been tracking the Enclosure Energy team for years and have seen firsthand how they operate – disciplined, transparent, and performance-driven. This is a true insider opportunity, and I’m proud to bring it to our investor base."
- Jace Graham | CEO & Founder
INVESTMENT STRATEGIES
Overview I Enclosure Energy II LP
Rising Phoenix Capital is proud to co-partner with Enclosure Energy Management on a $30 million drilling fund that combines immediate cash flow, long-term growth, and substantial first-year tax deductions.
This is a true insider opportunity – a partnership with a real operator, not just a syndicator – built on transparent alignment and measurable performance.
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Fund Type: 506(c) Reg D Offering
Fund Size: $30 Million Equity Raise
Minimum Investment: $50,000
Hold Period: ~6 Years
Target Returns:
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2.5–3.0× Equity Multiple
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30%+ Target IRR
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20–30% Annual Investor Yield
First-Year Tax Deduction: 80–90% Fund Close Date: December 15, 2025
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Rising Phoenix Capital holds a 30% beneficial interest (B.I.) in the General Partner promote through investors introduced by Jace Graham.
Learn more about the Enclosure Fund II LP long-term growth offering.
Investment Highlights
​Proven Projects Only – No exploration or step-outs. All development wells are in core, producing formations.
Immediate Cash Flow – 24 producing wells, 8 in progress, ~360 BOE/day.
Tax-Advantaged Returns – Up to 90% IDC deduction in Year 1.
Strong Alignment – Sponsor team co-invested $1M+ alongside investors.
Low Fees – Lean structure, no double promotes or unnecessary overhead.
Operational Experience – Leadership with 100+ years and $5B+ in transaction experience.
Tax-Advantaged Return Examples
INVESTMENT
Estimated Year 1 Deduction (87%)
Tax Savings @ 42% Rate
Effective Net Cash Outlay
–$87,000
–$217,500
–$217,500
$100,000 ​
$36,540
$91,350
$182,700
These estimates illustrate how Intangible Drilling Cost (IDC) deductions can dramatically reduce an investor’s effective cost of participation while maintaining full upside potential.
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Consult your CPA or tax advisor for individualized guidance. Rising Phoenix Capital does not provide tax advice.
Portfolio Snapshot
Diversified Non-Operated Drilling Across:
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Bakken (ND/MT)
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Niobrara (CO/WY)
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Green River (UT)
Fund I Track Record:
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83% Year 1 Tax Deduction
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31% Cash-on-Cash in Year 1
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17 Acquisitions / 70 Wells Drilled
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70% Volumes Hedged
Fund II Expansion:
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Acquiring new properties monthly
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75% oil hedged at $69.50/barrel
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20–30% expected annual distributions
Leadership Team I Enclosure Energy
Colin O’Farrell I Principal
Pioneer Natural Resources alum. Co-founder of multiple PE-backed E&Ps. $1B+ in deal volume.
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Greg Oliver I CFO
25+ years in oil & gas finance (PwC, PE-backed CFO).
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John King I Engineering
Pioneer Natural Resources alum. Co-founder of multiple PE-backed E&Ps. $1B+ in deal volume.
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Meredith Turnquist I Land
Former Northern Oil & Gas (NYSE: NOG). Specialist in non-op deals.
Enclosure Energy I Fund II Initial Asset Base - Own a Piece of De-Risked Cash Flow
Year-to-Date Activity | Wells - 31 | Formations - 3 | Operations - 5
4 wells in Bakken Fm.
First production in March
Average 122,000 bbls in 4 months
5 wells in Uteland Butte Fm.
First production in March
Average 162,000 bbls in 4 months
10 wells in Bakken Fm.
First production in February
Confidential status
4 wells in Niobrara Fm.
First production in January
Average 69,000 bbls in 4 months
8 wells in Bakken Fm.
Drilling and completing now
Jace Graham I Rising Phoenix Capital
“Our team has been actively identifying opportunities that deliver both strong economic returns and meaningful tax efficiency for our investors. Enclosure Energy II LP checks every box – proven assets, a fair promote, and a track record of real performance.​
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We’re strategically aligned with Colin and his team and believe this partnership represents one of the most compelling energy investments available before year-end 2025.”
Next Steps I For Accredited Investors Only
Learn more about this opportunity or request access to the secure investor data room.
Offering closes December 15, 2025. Participation subject to accreditation verification and subscription approval.
Compliance Notice: This communication is for informational purposes only and does not constitute an offer to sell or a solicitation to buy securities. Any offer is made only through the official Private Placement Memorandum (PPM) and related documents. Past performance is not indicative of future results. Oil and gas investments involve risk, including the potential loss of principal. Investors should consult independent legal, tax, and financial advisors prior to investing.​