Special Energy Corporation (SEC) began operation in May of 1979 and is based in Stillwater, Oklahoma. During the 1980’s SEC targeted older or abandoned properties and developed techniques to recover additional oil and gas reserves. During the depressed oil price period of the 1990’s SEC acquired hundreds of wells from companies that were downsizing and exiting areas in south Texas, the Texas Panhandle, Oklahoma, Arkansas, Kansas, and Louisiana. Capitalizing upon depressed prices, SEC successfully bartered for non-core wells and production in exchange for the assumption of plugging liabilities. SEC’s use of plugging liability as a currency opened the door for converting portions of the equipment to cash and provided SEC the opportunity to improve production through increased efficiencies and reduced overhead.
In the late 1990’s and early 2000’s, SEC successfully drilled several hundred vertical and horizontal wells in central and northwest Oklahoma utilizing unconventional processes to efficiently produce oil and gas. Along with its drilling activity, SEC designed and implemented large electrical and pipeline infrastructures while controlling 50,000 to 100,000 leasehold acres in each prospective area. SEC pioneered methods to lower bottom-hole pressures while implementing production systems to achieve economies of scale. These types of oil and gas reserves were previously thought to be unrecoverable by normal industry practices. Recently, many large companies have implemented these same processes in the Mid-Continent region.