Updates
XM Tek Closed on July 5th
July 1st, 2010In observance of Independence Day, XM Tek offices will be closed on Monday, July 5th. They will open at 9a CDT on July 6th.
Formation of XM Tek Oil & Gas
June 14th, 2010Due to the rapid growth over the last six months of the oil & gas division, we are pleased to announce the formation of a new company: XM Tek Oil & Gas LLC. This Texas company is a wholly owned subsidiary of XM Tek and will acquire all oil & gas related assets, liabilities, and relationships from the parent company within the next thirty days. The address and contact information will remain unchanged for the time being.
Upcoming Office Move
March 16th, 2010We are moving offices, so please take note of the new address:
XM Tek LLC
3634 Long Prairie Road, Suite 108-170
Flower Mound, TX 75022
The phones are moving with us, so they are staying the same. You should be getting a letter in the near future with this as well.
Quarterly Billing
February 5th, 2010By now everyone has gotten their Joint Operator Agreements for 2010. Pretty much everything is staying the same, the primary difference is that all royalty and working interest holders are now paid/billed quarterly, within 60 days of the end of the quarter. This is in an effort to reduce overhead, since billing only happens four times instead of twelve, but also to reduce the need for adjustment entries against previous periods due to un-billed or late bills from vendors. Do not worry, we didnt forget the billing that would normally go out on Feb 16th, instead look for it around May 1, or about 30 days after the close of the quarter.
Wet Weather in West Texas
February 3rd, 2010The weather did get warmer, finally, still pretty cold for her this time of year. Now we are contending with rain, which means roads are washed out or just too muddy for the tankers to get into the West Texas Leases, hurting the January and February numbers. Hopefully summer will be dry, it would be a nice change of pace from this last year or so.
Cold Weather in Texas
January 11th, 2010For those of you not living in the Lone Star State, we have been having about the coldest winter I can remember. Instead of just getting down to the 30’s for a few hours like usual, it has been down in the teens and even a little dip into single digits for weeks now with highs rarely reaching 45.
What this means to us is that our production is slow right now as we keep having to turn off the pumps to keep the salt water that is produced from freezing on those cold nights and bursting pipes and or well equipment.
Starting today, the weather is supposed to be back up where it should be for this time of year and we will ensure all the pumps go back to full production status, but in the meantime, stay warm, and stoke the fire.
Holiday Hours
December 1st, 2009Our offices will be closed from December 23 until January 4 2010 so that our employees may spend the holidays with their loved ones. If you have an emergency during that time, please contact Ryan Meinzer on his cell phone, otherwise call our office line and leave a message and we will return your call when we return to the office in the new year. Merry Christmas to you and yours and have a blessed 2010.
LF Durrell -ABC- #2
November 29th, 2009After a lot of work and consideration, we are going to plug #2 on LF Durrell -ABC-. The casing, despite several squeeze jobs is just in too bad of shape to be worth attempting to fix, like the previous operator kept trying to do. We will be filing the intent to plug within the next couple of weeks with work starting sometime right after the holidays. I will post some pictures of the work once it gets going.