From a nine million dollar start-up to a thriving nine billion dollar conglomerate, this narrative explores the remarkable rise of Newfield, an independent crude oil and natural gas production company, and its founder, Joe B. Foster. After spending several years heading up Tenneco's oil and gas division, Foster founded Newfield in 1989 and for the next decade his vision and business acumen created rapid growth. Combining the story of a remarkable man with the history of a fascinating company, this study offers valuable insights into what it takes to grow a start-up into a major industry player.
Arthur L. Smith is president of Triple Double Advisors, LLC. He has served as chairman and CEO of the petroleum research and consulting firm John S. Herold, Inc., and as a securities analyst with Argus Research Corp., First Boston Corporation, and Oppenheimer & Co., Inc. He is a director of Plains All American, LLP and Pioneer Southwest Energy Partners, L.P., and is a past appointee to the National Petroleum Council (NPC). He has served on the boards of the New York Society of Security Analysts (NYSSA), Parker & Parsley Petroleum, Pioneer Natural Resources, Cabot Oil & Gas Corporation, Evergreen Resources, Inc., and privately held Kuwait Energy. He is active in a number of petroleum industry associations including the Independent Petroleum Association of America (IPAA). He also serves on the board of the nonprofit organization Dress for Success Houston and is on the board of Visitors of the Nicholas School of the Environment and Earth Sciences at Duke University.