OUR HISTORY

Breckenridge, TX

Breckenridge, Texas surfaced the maps during the great 1920s oil boom where the town’s population of 1,500 seemed to explode overnight to 30,000 residents in just twelve months. Oil derricks sprouted everywhere, in fact, one of the town’s most famous photographs, taken by The New York Times in 1920, featured an oil rig set-up on Main Street in the very center of town as a rig building competition during a 4th of July celebration.

  An Oil Rig on Main Street in Breckenridge, Texas” - The New York Times - 1920  
  “An Oil Rig on Main Street in Breckenridge, Texas” - The New York Times - 1920  

A thriving north-central Texas community of now 6,000 people, Breckenridge’s economy still largely comprises oil and gas, and also includes ranching, service businesses, small manufacturing outfits and a greatly expanding recreational enterprise.

B. Curtiss McClymond started his oil and gas company with his brother in August 1979, which was then called McClymond Brothers. In time, the business name would change to McClymond, Inc, McClymond, Ltd and now Petroleum Exploration Company, Ltd, dba PETEX. As the business grew over time, so did the company’s infrastructure.

Today, PETEX and its related entities create a uniquely integrated oil and gas business comprising an oil and gas operations, oilfield supply stores, gas gathering systems, gas processing plants, roustabout and rig moving services and a drilling arm. Its success is largely based upon the efficiency gleaned from the properties through a complex, yet highly integrated, structure. The philosophy has been to control costs and maintain close supervision for most aspects of the business while attaining its targeted growth. Total employment for all related entities exceeds 100. Company employees are very carefully selected and are quite capable; the officers of the company are proud of their staff and realize they are integral to our success.

Establishing its operating base within a 90 mile radius of Stephens County, PETEX soon became the number one gas producer and second-leading BOE producer for the 24 county region comprising Texas Railroad Commission 7B.

Petex continues to rollout the company’s successful blueprint into other producing areas throughout the United States as it acquires and develops oil and gas properties in these locations.