Texas Energy Mutual is an oil and gas company founded by energy industry veterans with over 150 years of collective experience. It focuses on exploration and production projects in Texas and Oklahoma, using its expertise to maximize results for shareholders. Exploration and production companies discover oil and gas reservoirs, drill wells, and produce and sell petroleum. They report daily, monthly, and quarterly production in barrels of oil, with a barrel equivalent to 42 gallons, and sometimes use the term barrel of oil equivalent to describe natural gas production. Reserves are the remaining quantities of oil and gas in the ground, which deplete over time through production, so companies also focus on exploration to locate new reserves and acquire existing producing properties.

1. By Texas Energy Mutual

2.  Founded by individuals with more than 150 years of
experience in the energy industry, Texas Energy
Mutual develops oil and gas projects in Texas and
Oklahoma. To every project, Texas Energy Mutual
brings deep knowledge of oil and gas exploration and
production (E&P) to achieve maximum results for its
shareholders. E&P companies focus on discovering
hydrocarbon reservoirs, establishing and drilling
wells, and producing and selling oil and natural gas.
When reporting results, most E&P companies disclose
the barrels of oil produced by their operations in a
day, a month, or over a three-month quarter.

3.  A barrel, often denoted by the abbreviation bbl, is
equivalent to 42 gallons. In addition, E&P companies
may use the term barrel of oil equivalent, or BOE, to
describe natural gas production. Another measure
reported by E&P firms is their reserve, or the quantity
of oil and gas that still remains in the ground.
Because reserves diminish over time due to
production, most E&P companies focus on
exploration efforts to locate new petroleum reserves.
While some companies pursue drilling at new sites
exclusively, many E&P companies also look for
proven, producing properties with ongoing potential.