Fundsters watching the energy sector may want to turn their eyes to Texas. On Tuesday Dallas-based Chestnut Energy Partners revealed the addition of eight mutual funds (all energy-focused) to its portfolio. The Chestnut Group of companies, owned and chaired by Mark Plummer, also includes a Richardson, Texas-based oil and natural gas firm, Chestnut Petroleum.

Emii.com also covered the news.

Chestnut Energy Partners did not list or describe the funds in question, but the firm did reveal that it has "established selling agreements with eight prestigious [and unnamed] mutual fund companies." A source familiar with the situation confirmed that Chestnut previously focused on traditional private placements and is now getting its reps licensed to sell mutual funds.

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Company Press Release

DALLAS, April 26, 2011 -- Chestnut Energy Partners is pleased to announce that it has added energy-focused mutual funds to its product portfolio. The company's family of funds is designed to provide diverse exposure to upstream energy opportunities including stock ownership in major operators, independents, and oil field service companies, both global and domestic.

"Mutual funds can be a strong investment option for investors looking to participate in the energy sector," says Mark Plummer, chairman and founder of The Chestnut Group of Companies. "As long-term investment vehicles, oil and natural gas mutual funds provide investors access to diverse opportunities that may benefit from the growing gap between tightening supply and increasing demand."

Chestnut Energy Partners' mutual funds will be marketed through established selling agreements with eight prestigious mutual fund companies.

About Us

Chestnut Energy Partners is an established FINRA-registered firm located in Dallas, Texas, and is the exclusive broker-dealer for Chestnut Exploration. Chestnut Petroleum is a privately owned, independent owner-operator that conducts drilling, recompletion and reentry, and general operations in proven, producing oil and natural gas fields primarily in Texas and Louisiana. To learn more, visit the company's web site at http://www.chestnutep.com

SOURCE Chestnut Energy Partners 

Edited by: Neil Anderson, Managing Editor


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