Eagle Eye Fund 2, LP is a blind-pool oil and gas drilling program. It intends to acquire non-operated working interests in onshore U.S. properties by competitive bid and to participate in drilling, completion and production. Nine target areas are named (Permian, Eagle Ford, Haynesville, Utica, Uinta, Powder River, DJ Basin, Mid-Continent and Marcellus), but the list is non-exclusive. No property, well or Operator has been identified. The Partnership may not borrow, so AFE overruns and later operations are funded from revenue or Partner assessments. Investors elect Limited Partner Units or Additional General Partner Units; the latter are structured to use intangible drilling cost deductions against active income.