CNBC's 'West Texas Investors Club': Rooster McConaughey, Butch Gilliam Set August Premiere!

CNBC has released a first look trailer at their new reality series, West Texas Investors Club. Before the official premiere in August, self-made multimillionaires Rooster McConaughey and Butch Gilliam will prepare viewers to get a Shark Tank feel with a little bit of Texas twang in their own club.

According to Deadline, following the success of The Profit, CNBC reteams with the show's producer, Charlie Ebersol, for a new reality series. West Texas Investors Club is one of three new unscripted series ordered by the network, along with Blue Collar Millionaires, and Make Me a Millionaire Inventor.

During the eight-episode series, deep in the heart of Texas, the self-made multimillionaires Rooster McConaughey and Butch Gilliam have carved their fortunes from a harsh and unforgiving land. Now they've chosen to pass on their success by investing in promising entrepreneurs. But they're going to do it on their own turf and terms. Along with the duo's close friend and confidante Gil Prather, Rooster and Butch are inviting ambitious entrepreneurs from all across the country to come down to Midland and make their case.

The contestants know that they're getting a once-in-a-lifetime chance to secure funding. But what these hopefuls don't know is that clever products and beautiful balance sheets will only get them so far. These investors, Rooster and Butch, won't make a deal until they have taken a deep look into your heart and soul, seeing the true measure of your character.

In an interview with People, McConaughey reveals , "I was going to invent the Facebook, but the technology part of it was not my forte."

With the group investing in an app and, McConaughey adds, "We're going to have to stop drinking beer during these negotiations."

West Texas Investors Club premieres August 4 at 10 pm on CNBC.

Readers, are you excited to see West Investors Club?