NewsBank InfoWeb San Antonio Express-News Message: DTRE San Antonio Express-News November 11, 2000 Business Briefs Author: Compiled from staff and wire reports Edition: Metro Section: Business Page: 2D Index Terms: News - Local; News - Texas; News - Foreign; News - Mexico Estimated printed pages: 3 Article Text: Real estate veterans form new venture Veteran downtown real estate professionals Steve Thurlow, Debra Maltz and Monica Bradfield have formed Downtown Real Estate Co., which handles commercial and residential leasing and sales in the heart of the city. Thurlow, formerly of Site Insight; Maltz, who had Centro Properties; and Bradfield, who worked with Maltz through the Revel Group, decided to join forces so each could concentrate on a specialty. Thurlow's focus is commercial, Maltz will handle residential and Bradfield runs the company's new Web site. The new organization still handles leasing for the Revel Group, headed by Tony Bradfield, Monica's brother. Tony Bradfield said he wants to put his energies into redeveloping the historic downtown buildings he and partner Walter Mathis have been buying, such as the Gibbs Building at Alamo and Houston streets. The Exploration Co. posts another profit Net income for the third quarter at the Exploration Co. set a record of $1.04 million, or 6 cents per share, company officials said Thursday. It was the eighth consecutive quarter the company, a San Antonio-based oil and gas explorer, had posted earnings. The company also posted $4.2 million in revenues for 2000's third quarter, a 46 percent increase over last year's third quarter. CEO James Sigmon attributed the strong showing to increased demand for oil and gas. "We are extremely pleased with the economic impact commodity prices are having on our top and bottom lines," Sigmon said. "With three rigs operating during the quarter, we drilled twelve wells - three more than we drilled in the first six months of the year." The Exploration Co. has drilling operations in Texas, North Dakota, South Dakota and Montana. Restaurant innovator Brinker stepping down DALLAS - Norman Brinker, who started from scratch and built a chain of more than 1,000 casual-dining restaurants, is retiring as chairman of Brinker International. Chief executive Ron McDougall will also assume the chairman's duties at the Dallas-based company, which operates Chili's Grill & Bar and several other chains. Brinker, 69, will become chairman emeritus. Brinker opened a coffee shop in Dallas in the 1960s and developed the concept for Steak & Ale restaurants, where he popularized the salad bar and casual dining. Oil and gas exploration rig count drops by 11 HOUSTON - The number of rigs actively exploring for oil and natural gas in the United States fell by 11 to 1,067 this week. Of the rigs running nationwide, 840 were exploring for gas, 226 were looking for oil and one was listed as miscellaneous, Houston-based Baker Hughes Inc. reported Friday. A year ago, the rig count was at 774. Baker Hughes has kept track of the count since 1944. The tally peaked at 4,530 on Dec. 28, 1981, during the height of the oil boom, but set several record lows last year, bottoming out at 488 on April 23, 1999. No production boost expected from OPEC LONDON - Despite tight supplies in world oil markets, OPEC is expected to forgo any increase in crude production when its members meet Sunday to assess market conditions. Consumers subsequently should not count on seeing prices for heating oil or gasoline fall any time soon, some analysts say. OPEC's official line is that it will stick to the quotas it adopted last month, and energy analysts say the cartel probably won't adjust its output level before the end of the year. Telmex unveils plan to expand services MEXICO CITY - Telefonos de Mexico SA, Mexico's largest phone company, said Friday it plans to invest $4 billion in Mexico and abroad next year to expand its network of fixed and cellular phone services. Telmex said it plans to invest $2 billion to enlarge and modernize its Mexico network to handle more data and Internet traffic. Another $2 billion is earmarked for Telcel, the cellular phone network, and expansion into Latin America. "It reinforces the fact that capital expenditure will continue to be large," said Jose Linares, a telecom analyst at J.P. Morgan & Co. who met company officials at an analysts' briefing in Mexico on Thursday. Copyright 2000 San Antonio Express-News Record Number: 518774