Great Western Drilling Company, a privately owned oil and gas business, was founded in 1936. In its early years Great Western was both a petroleum exploration and production company and one of the largest contract drilling companies in the United States. Ultimately, the rigs were sold as the company focused solely upon expanding its production activities to become the major independent producer it is today. Currently, the company operates and participates in the exploration, production and acquisition of oil and gas reserves in eight states with offices and/or facilities in Midland, Fort Worth, Odessa, Sundown and Mentone, Texas; Farmington and Lovington, New Mexico. Great Western has working interest in over 400 producing properties of which nearly one-half are company operated. The company has significant history and experience in secondary recovery operations, implementing and operating numerous waterfloods in the Permian Basin and Mid-Continent areas. The key objectives of the Company are to increase reserves through exploration, development and acquisitions, minimize production costs and maximize recoverable reserves.