After graduating with petroleum engineering and business degrees from
Texas A&M, Joe Foster worked at Tenneco for 31 years holding various
positions in exploration, production and strategic planning. He was
involved with its Gulf of Mexico operations from 1959-1988. While
rising to President of Tenneco Oil’s E&P business unit, Foster guided
the Company’s development into one of the most successful exploration
companies in the Gulf of Mexico.
After Tenneco sold its oil properties in 1988, Foster founded
Newfield Exploration Company, and began acquiring leases and reserves at
a time when activity in the Gulf was languishing. Newfield, in 2004, is
the 12th largest operator of production in the Gulf, holds 250 leases on
the shelf, 85 in Deep Water, and ranks as one of the most active
drillers in the region.