Something from Nothing chronicles the remarkable rise of Newfield Exploration Company. Inspired by the drive and determination of Joe B. Foster, guided by a bedrock of straightforward business
principles and executed by a team of close-knit professionals, the independent oil and natural gas exploration and production company has grown from a nine-million-dollar start-up in the late
1980s to a thriving nine-billion-dollar global petroleum powerhouse today.
Newfield might have never happened. In his stellar 31-year career at Tenneco, Joe Foster climbed to the executive ranks of the Houston conglomerate after spearheading its development into one
of the dominant upstream energy firms active in the Gulf of Mexico. When Tenneco divested its oil assets in a multi-billion transaction in 1988, Foster found himself a 54-year-old unemployed
millionaire. Not content to join the ranks of retired oilmen at the River Oaks Country Club, Joe founded Newfield Exploration, acquiring leases and reserves at a time when activity in the Gulf
of Mexico was languishing and energy investors were scarce. The great success of Newfield Exploration came neither quickly nor easily but was a triumph built on perseverance and teamwork, doing
what is ethical and sensible.
Using his career expertise as a Wall Street oil industry analyst to weave together the experiences of the top leaders and investors, Art Smith creates a fascinating picture of the maturation of
Newfield into a pacesetter exploration and production company. He documents how Foster's sound business principles and unique leadership skills provided a template that continues to define
Newfield Exploration Company today. Something from Nothing is required reading for energy investors, petroleum executives and would-be entrepreneurs.
