Year Inducted: 2004
Joe B. Foster
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.