A diversified Permian Basin fund investing alongside operators like ExxonMobil, ConocoPhillips, Occidental, EOG, and others.
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Transparency you can hold. Access the latest Bison II, LP investor reporting — published by the fund and prepared with independent third-party oversight.
Our most recent quarterly letter — new acquisitions, record distributions, the fund’s current footprint, and our view on the oil market.
View Update → Latest Update · September 2026Current assets and operating partners — 18 properties and 10 operators across the Delaware and Midland basins.
View Update →Four levers that put more of your income to work for you.
Target 80–90% first-year deductions through intangible and tangible drilling costs.
The depletion allowance shelters a portion of your quarterly distributions from federal income tax.
Receive cash distributions every quarter from active oil and gas production.
Independent third-party oversight — fund administration, audit, and accounting — so you can verify what you own.
The majority of fund assets were acquired at around $60 WTI oil prices — a conservative cost basis with meaningful upside as WTI trades well above that level today.
Portfolio statistics as of October 2026 (Q3 2026 Investor Update).
| Bison II | Traditional Energy Funds | |
|---|---|---|
| Structure | ✓Not owner-operated — no single-well risk, no conflicts of interest. | ×Often operate their own wells, introducing concentration risk. |
| Diversification | ✓Diversified across multiple operators and assets. | ×Frequently concentrated in a small number of wells. |
| Oversight | ✓Third-party admin, independent audit, custodian platform. | ×In-house accounting and self-administration are common. |
| Geography | ✓Tier 1 Permian Basin only — most productive region in the U.S. | ×Often allocate across lower-tier basins for yield. |
Concentrated where the geology, operators, and economics already work.
Sources: U.S. Energy Information Administration (Short-Term Energy Outlook, January 2026) and U.S. Geological Survey continuous resource assessments. Production figures reflect 2025 annual averages and 2026 forecast. Recoverable resource estimates represent technically recoverable undiscovered resources per USGS methodology and are not equivalent to proved reserves.
Every fund we reference is supported by independent third-party oversight — fund administration, audit, accounting, advisory, and performance software — so investors can verify what they own and how it’s performing.
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