90 Years of Industry Leadership

For more than 90 years, the Oxley family has been a leader in the oil and natural gas exploration and production industry. John T. Oxley worked his way up the corporate ladder in the 1930s and 1940s with Amerada Hess’ gasoline department in Tulsa. In 1940, John left Amerada to go to work for Warren Petroleum where he became Secretary/Treasurer of the Board of Directors. In 1948, John founded Texas Natural Gasoline Corporation which later merged in Union Oil Company of Louisiana (1956). The combined entity’s name was changed to Union Texas Petroleum and went on to become one of the largest independent oil companies in the world. In 1962, Union Texas merged into Allied Chemical, a Dow Jones Industrial Average component.

Oxley Petroleum Co, founded in 1962 by John and his son John C. “Jack” Oxley, developed properties in the Arkoma and Anadarko Basins. It was a good marriage with John’s extensive background in petroleum and Jack’s degree in geology. The company’s early success was scored in the late 1960s in Oklahoma’s South Quinton Field in Pittsburg County. Jack spearheaded the company’s development of several 30- to 40-BCF wells in the Pennsylvanian Red Oak sands, drilling up a six- to seven-mile, narrow sand channel. Stephen M. “Mike” Oxley, John’s nephew and Jack’s cousin, came on the scene in 1979. As Jack stepped aside to pursue other interests, Mike was named President and Chief Operating Officer of Oxley Petroleum. The Company achieved its phenomenal growth almost entirely through exploration and development, instead of though acquisitions. In 2003, Oxley Petroleum was sold to Chesapeake. At exit, Oxley Petroleum was the 14th largest gas producer and 3rd most active operator in Oklahoma. After the sale of Chesapeake, Jack started a smaller scale venture name Oxley Resources, LLC and remained active in the Tulsa, Oklahoma community. Jack is a trustee of the Oxley Foundation, which donates to polo players and schools. The late John’s legacy includes a 2003 honoree of the Hall of Fame of the Tulsa Historical Society, a 1994 induction into the Museum of Polo and Hall of Fame, and establishment of the Mary K. Oxley Nature Center, a wildlife preserve in Mohawk Park, Tulsa in 1970.

In 1981, Mike founded New Prospect Drilling Company, a drilling rig company based in the Arkoma that grew to own and operate seven land rigs and ancillary equipment, before divesting to Nabors Drilling In 1998. In 1998. Mike maintained the remaining New Prospect Drilling assets in the newly formed New Prospect Company, a leading drilling, completion and production engineering services contractor operating in nine states and internationally.

In 2007, Mike founded private equity backed Highland Oil and Gas, a company focused in the Arkoma and Anadarko Basins. Before Highland Oil and Gas’s sale, Mr. Oxley grew the company’s asset base to over ~60,000 net acres and 70 BCFE net proved reserves by drilling 93 operated and 77 non-operated wells over the course of 3 years. Since the Highland’s sales in 2010, Mike has continued growing New Prospect Company’s operations and founded Oxley Energy, LLC in 2011. Today, Oxley Energy is actively engaged in exploration and production activities in the Arkoma.

Oxley stands for deep experience, commitment to community vitality, and excellence in operation and financial performance.

Thinking and acting strategically through every cycle of the energy industry, the Oxley team produces results – whether from the company’s historical growth through the drill bit or its opportunistic acquisition of mature assets when market conditions favor it.