OGJ Top 10 Independents-No. 9: Pure Resources on 'fast track to growth' with balanced strategy

Pure Resources Inc., Midland, Tex., is implementing a balanced strategy while it pursues a fast track to growth.Pure was formed in May 2000 through the combination of Titan Exploration Inc. and the Permian basin business unit of Unocal Corp.Upon Pure's formation, Titan stockholders owned 34.6% and Unocal owned 65.4%.Pure controls 6 million gross fee mineral acres throughout the southern Gulf Coast, primarily in Texas, Arkansas, Louisiana, Alabama, Mississippi, and Florida.StrategyPure is concentrating on improved oil recovery techniques and horizontal drilling, and those tactics paid off during its first full calendar year of operation.Second quarter financial results showed year-over...

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