What is Trek Resources?
Trek Resources, Inc. is an independent energy firm engaged in the exploration, development, exploitation, and acquisition of on-shore oil and natural gas properties across the United States. Originally incorporated in Utah in 1983 as Quasar-Tech, Inc., the company evolved through mergers and name changes, notably becoming McGowen Resources Company, Inc. in 1992 before adopting its current name, Trek Resources, Inc., in June 2000. The company recently reincorporated in Delaware and conducts its primary operations in Oklahoma and Texas, with additional non-operated interests in New Mexico. Trek Resources has historically pursued growth primarily through the acquisition of producing properties and prospects.
How much funding has Trek Resources raised?
Trek Resources has raised a total of $850K across 2 funding rounds:
Debt
$350K
Debt
$500K
Debt (2020): $350K with participation from PPP
Debt (2021): $500K led by PPP
Key Investors in Trek Resources
PPP
Public-Private Partnership
PPP
Public-Private Partnership
What's next for Trek Resources?
The recent major strategic investment signals a period of accelerated growth and potential expansion for Trek Resources. This influx of capital is likely to fuel further acquisitions of producing properties and prospects, as well as support ongoing exploration and development initiatives in its core operational regions of Oklahoma, Texas, and New Mexico. The company's strategic focus on acquiring established assets suggests a commitment to optimizing existing reserves and potentially increasing production volumes. This financing round positions Trek Resources to capitalize on market opportunities and strengthen its market presence in the domestic energy sector.
See full Trek Resources company page
