Texas Energy Mutual LLC was established in Grapevine, Texas, by a group of seasoned industry professionals with more than 150 years of combined experience. Deeply knowledgeable in the techniques of oil and gas exploration and production, they also share a strong commitment to preserving the environment and leaving a drilling site in as close to its original condition as possible. Having recently found success with its Manning #2 well in Oklahoma, Texas Energy Mutual anticipates greater oil and gas production from U.S. sources.
Rather than concentrating its efforts solely on exploration or on production, Texas Energy Mutual (TEM) performs both activities, acquiring the rights to potentially productive properties and exploring those sites. When either oil or gas is found, TEM develops the resources, selling the oil to refineries and the gas to pipeline operators. Productive properties can return as much as 40 percent to TEM, its affiliates, and its investors. This attractive financial return is driving greater energy production from domestic sources, which in turn is reducing America’s dependence on foreign sources of oil. TEM notes that the United States imported less than 50 percent of its oil from foreign producers in 2010, a trend that continues today.
In addition to its commitment to environmental responsibility, TEM supports a host of charitable activities and organizations, including the Salvation Army, the Toys for Tots Foundation, Doctors Without Borders, and the Meals On Wheels Association of America.