Over the last five to seven years, wells that used to cost $500,000 to drill are no longer feasible. Instead, drilling costs are in the millions of dollars, but there isn’t a commensurate rate of return. Thus, the oil business has become even more operationally challenging in the second decade of the twenty-first century.

Extex seeks to differentiate itself from its competition by being a strong operational entity, optimizing expenses while maximizing the present value and long-life reserves of its producing wells. The focus at Extex has never been on short-term benchmarks. Rather, the goal of the company will continue to be, as it has always been, the long-term maximization of profits while maintaining as high a present value as possible for its existing fields.