Title
Something from Nothing: Joe B. Foster and the People Who Built Newfield Exploration,Used
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Something From Nothing explores the remarkable rise of Newfield Exploration, an independent crude oil and natural gas exploration and production company, from a ninemilliondollar startup to a thriving ninebilliondollar conglomerate and explains the vital role its founder, Joe B. Foster, played. Before founding Newfield, for thirtyone years Foster held various positions in exploration, production, and strategic planning at Tenneco Oil. As president of Tenneco's E&P division, he spearheaded its development into one of the most successful exploration companies in the Gulf of Mexico. When Joe Foster learned that Tenneco planned to sell its oil properties, he could have cashed out his substantial severance package and taken up golf. Instead, he founded Newfield Exploration, acquiring leases and reserves at a time when activity in the Gulf was languishing.
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