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Verizon Wireless Sells Blocks of Radio Spectrum in Texas to Oil Firm

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Verizon Wireless has sold blocks of its lower 700 MHz A and B block wireless spectrum in the south Texas region to oil and gas industry communications supplier, Texas Energy Network. The wireless spectrum encompasses 28 counties, and will provide TEN with the ability to offer service over the entire Eagle Ford Shale area.

The transaction is not part of the spectrum sale process announced by Verizon Wireless on April 18, 2012.

Gregory M. Casey, CEO and founder of TEN stated, "We are excited to acquire this spectrum because it will allow us to provide a much needed service to our customers who have been requesting improved communications services in the oilfield for some time. We intend to build-out our wireless coverage of the Eagle Ford shale region with a 4G LTE network as soon as possible to bring high-speed bandwidth to the region. It is our goal that the Eagle Ford shale will be one big digital oilfield with TEN delivering the bandwidth."

TEN, formed in 2010, is the first company to provide LTE wireless coverage onto oil and natural gas fields. The Company is currently building networks in both the Permian Basin and the Eagle Ford shale.

Spectrum consists of the lower B Block license for CMA 670, Texas-19, and all counties in the lower A Block license for the San Antonio EA (license #134) except the counties of Bexar, Comal and Guadalupe.

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