TEN will use the amount to build fourth generation long term evolution (4G LTE) wireless network in the Permian Basin of west Texas and Eastern New Mexico and the Eagle Ford Shale of south Texas.
TEN founder and CEO Gregory M. Casey said, "Our intention is to quickly build-out our network in key areas of the Permian Basin and Eagle Ford Shale so we can provide our customers with the communications solution they require."
Amegy Bank of Texas too has agreed to provide the company with a line of credit which will support TEN’s growth, network and help the company offer oilfield communications solution to its clients.
The investor group members will also be responsible to establish and operate exploration, production, and oilfield services companies.
