Petroleum Exploration Company, Ltd., dba PETEX, is a private company based in Breckenridge, Texas. PETEX's primary focus is the acquisition, drilling and operation of oil and gas properties within the 48 contiguous United States. Founded in 1979, the company is the leading gas producer and second-leading BOE producer in District 7B. Dedication to excellence and a highly-integrated structure has enabled PETEX to consistently yield above average returns to its partners. PETEX continues to embrace the core values that have contributed to the company’s success, thereby instilling honesty, integrity, respect and persistence every step of the way. 

We pride ourselves on the quality of the people working for PETEX and their ability to work quickly and efficiently to accomplish the tasks at hand in a professional and economic manner. 

PETEX has been producing oil and gas properties in and around Stephens County, Texas, since 1979.  Historically, PETEX has maintained an operating base within a 90 mile radius of Breckenridge, Texas; however, we are positioned to acquire producing oil and gas properties anywhere on-shore in the lower 48 states. 

Primarily focused on the acquisition of producing oil and gas properties with operations, PETEX and its subsidiaries also acquire and participate in non-operated properties, drilling prospects, and purchase both producing and non-producing mineral interests and override royalty interests.Our focus is to double in size through acquisitions and drilling in the next five years. In terms of staff and available drilling prospects, we are well positioned to accomplish this goal.