HOUSTON, TX — (Marketwire) — 07/19/11 — (PINKSHEETS: TEXC), an environmental services company for the oil and gas industry, today announced the expansion of its Board of Directors from five to seven members following the appointments of Randy Lowry, Jr. and John Wade as new independent directors, effective immediately. These appointments bring the number of independent members from three to five.
“As we persist in advancing our defined growth strategies and work to win global distinction as the preferred provider of environmental services to the oil and gas industry, we recognize the importance of nurturing a corporate culture that fosters optimal transparency, focuses on accountability and supports even greater independent oversight. Consequently, we are very pleased to welcome both Randy and John as strong complements to TexCom–s existing board members and expect to greatly benefit from their collective expertise, advice and direction,” stated Lou Ross, Chairman, President and CEO of TexCom.
Lowry brings TexCom nearly 40 years of seasoned experience and entrepreneurial expertise focused on the exploration, development and production of oil and gas prospects in the Gulf Coast regions of Texas and Louisiana. Among many senior leadership roles, he currently serves as President of Union Gas Corporation, an independent E&P company he founded in 1996 which has since developed seven significant Middle Wilcox fields in Texas, drilling over 180 wells with total footage of 2.5 million feet and a cost of $750 million. Presently, Union Gas is the operator of over 50 wells in Southern Texas and Southern Louisiana. In addition, Lowry also serves as the Founder and Manager of Union Gas Production Partners; Co-founder and President of Union Gas Operating; and President of Dominion Minerals, a company he founded in 1989. He began his career in the oilpatch with Texaco, Inc. in 1974 and later worked for C&K Petroleum until 1980. In 1981, Lowry opted to become an independent producer, founding and operating several E&P companies prior to the formation of Union Gas, including Lowar Exploration Co. and L&L Drilling.
Both a Certified Public Accountant and Attorney, Wade currently serves as Senior and Managing Partner of Wade & Company, LLP, a public accounting firm based in Houston, Texas. The firm specializes in representing high net worth individuals, estates and trusts, and major corporate clients, advising on general domestic tax planning with an emphasis on mergers and acquisitions, reorganizations and consolidations, choice of entity considerations, income tax planning and estate planning. After graduating from Texas Christian University with a Bachelor of Business Administration and Accounting degree in 1969, he worked for the next 11 years in the tax department of Arthur Anderson, where he succeeded in building a substantial client base of individuals, trust and corporations — most of whom are still clients of his today. Wade also earned a Doctorate of Jurisprudence from South Texas College of Law and is an active member of the American Institute of CPAs, Texas Society of CPAs, Houston Society of CPAS, State Bar of Texas and the Houston Bar Association. In addition, Wade serves on the Board of Directors for both Quality Electric Steel Castings, Inc. and American Speed, Inc. and is a member of the Advisory Board of Post Oak Bank, N.A.
TexCom, headquartered in Houston, Texas, is a growth-oriented environmental services company with a primary focus on the disposal of nonhazardous wastes generated by the oil & gas industry. TexCom is expanding its interests to disposal of nonhazardous industrial wastewater, serving the refining and petrochemical industries. For more information, please visit
This press release may contain forward-looking statements, including information about management–s view of TexCom, Inc.–s future expectations, plans and prospects. In particular, when used in the preceding discussion, the words “believes,” “expects,” “intends,” “plans,” “anticipates,” or “may,” and similar conditional expressions are intended to identify forward-looking statements. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of TexCom, Inc., its divisions and concepts to be materially different than those expressed or implied in such statements. Unknown or unpredictable factors also could have material adverse effects on TexCom–s future results. The forward-looking statements included in this press release are made only as of the date hereof. TexCom cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, TexCom undertakes no obligation to update these statements after the date of this release, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by TexCom.