Co-Founder, Chairman and CEO David Dewhurst, has led Falcon Seaboard since the 1980s in developing successful businesses. He is joined on our leadership team by Vice President Finance and Treasurer Gene Dewhurst, Vice President and Controller Curt Beck, and other outstanding energy professionals.
Originally formed in 1935 by Ted Law of Tulsa, Oklahoma, Falcon Drilling Company became one of America's largest onshore and offshore oil and gas drilling and exploration companies, with a large domestic coal business. When Law moved to Houston, Texas, he changed the company name to Falcon Seaboard Drilling Company. In 1979, Diamond Shamrock acquired Falcon Seaboard. Two years later, Ted Law and David Dewhurst re-formed Falcon Seaboard, maintaining its headquarters in Houston.
Throughout its distinguished history, Falcon Seaboard has purchased and profitably sold onshore and offshore oil and gas, natural gas-fired cogeneration plants, demand side management companies, construction companies, real estate, banks, financial service companies, and others. Today, Falcon Seaboard is engaged in exploration and production in Texas, the Gulf Coast and the Rockies.
Under the current management, Falcon Seaboard Diversified, Inc. has profitably operated offshore Gulf of Mexico, Texas, New Mexico, Colorado and Alberta, Canada. After developing, owning and profitably operating natural-gas-fired cogeneration plants through the late 1990s, we sold them to CalEnergy, now Mid American, realizing a financial gain of almost $300 million, while continuing to develop new plants in Spain, Germany, Argentina and Asia. Falcon Seaboard also owned and operated two pipelines carrying natural gas to our cogeneration plants. Starting in the 2000s, we partnered in profitably drilling and developing a large field in Gunnison County, Colorado, discovering 40 TCF of Gas-In-Place (GIP), comprised of coalbed methane, conventional gas sands and the Mancos shale. Falcon Seaboard is a partner in a new pipeline carrying natural gas from its Gunnison County field to interconnect with several pipelines, including Ruby Pipeline (to carry gas to the West Coast), and Kinder Morgan (to carry gas to the Mid West).