OGJ Top 10 Independents-No. 6: TEC maintains three-pronged growth strategy-in one basin

San Antonio-based The Exploration Co. has a three-pronged strategy for sustaining the company's production and earnings growth, according to James E. Sigmon, president and CEO-and all three parts involve the same Texas basin.The first leg of this strategy involves its large acreage position in the underexplored Maverick basin in South Texas, where the company has used new technology-predominantly 3D seismic-to identify Glen Rose reefs in the basin. The ongoing exploration project is being used to build the company using the patch reefs, which are at a depth of 5,500-7,000 ft. TEC holds more than 245 sq miles of 3D seismic data gathered over 365,000 acres under lease. "New technology j...

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