HOWELL CORP

HOWELL CORP

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Company Overview
Howell Corporation is a United States-based private company engaged in the exploration, production, acquisition and development of oil and gas properties. The company was incorporated in the state of Delaware in 2002. Its registered business office is based in The Woodlands, Texas. Its annual operating revenue or turnover is 28.7 million USD. It also operates with a local registry filing as its filing type.
Howell Corporation’s oil and gas exploration and production activities are conducted by Howell Petroleum Corporation, a wholly owned subsidiary of the company and are concentrated in Wyoming and along the Gulf Coast, both onshore and offshore. Its core area includes the Salt Creek and Elk Basin fields.
Business Summary
Howell Corporation and its subsidiaries are engaged in the exploration, production, acquisition and development of oil and gas properties in the United States. Howell’s oil and gas exploration and production activities are conducted by Howell Petroleum Corporation (HPC), a wholly owned subsidiary of the Company, and are concentrated primarily in Wyoming. At December 31, 2001, the Company’s estimated proved reserves were 39.9 million barrels of oil and plant liquids and 32.8 billion cubic feet (BCF) of gas. The core area and major producing areas for Howell include the Salt Creek and Elk Basin fields, which represent 36.8 million barrels of oil equivalent (MMBOE), or 81%, of the Company’s total proved reserves. Substantially all of Howell’s oil and natural gas production is sold on the spot market or pursuant to contracts priced according to the spot market. In December 2002, Anadarko Petroleum Corporation, an independent oil and gas producer, acquired the Company.
Description and history
Howell Corporation and its subsidiaries are engaged in the exploration, production acquisition and development of oil and gas properties in the United States. Howell’s oil and gas exploration and production activities are conducted by Howell Petroleum Corporation (HPC), a wholly owned subsidiary of the Company, and are concentrated primarily in Wyoming. At December 31, 2001, the Company’s estimated proved reserves were 39.9 million barrels of oil and plant liquids and 32.8 billion cubic feet (BCF) of gas. The core area and major producing areas for Howell include the Salt Creek and Elk Basin fields, which represent 36.8 million barrels of oil equivalent (MMBOE), or 81%, of the Company’s total proved reserves. Substantially all of the Company’s oil and natural gas production is sold on the spot market or pursuant to contracts priced according to the spot market. In December 2002, Anadarko Petroleum Corporation, an independent oil and gas producer, acquired the Company.

In 1997, Howell sold substantially all of the assets of its technical fuels and chemical processing business. In connection with the transaction, the Company agreed not to engage in any competing business for a five-year period after the closing. As additional consideration for the sale, the Company retained the right to participate in the future earnings of the business. On January 4, 1999, the Company sold that right.

In 1996, the Company conveyed the assets and business of its crude oil gathering and marketing operations and pipeline operations to Genesis Crude Oil, L.P. (GCO), a limited partnership. Additionally, the Company received 46% of Genesis Energy, L.L.C. (LLC), which is the general partner of GCO.

With only a minority interest in LLC, Howell was not in a position to substantially influence management of GCO. During 1999, the Company decided to dispose of its interests in GCO and LLC. The subordinated limited partner units were eliminated in December 2000, as a result of a restructuring of GCO.

Incorporated in the state of Delaware

Business Line
Engaged in the exploration, production, acquisition and development of oil and gas properties
Subsidiary

Advisor
DELOITTE & TOUCHE LLP
IPO date

US SIC Code
5172
Company Address
Suite 1500
1111, Fannin
City province or state postal code
77002, HOUSTON, TX
Phone: +1 713 658 4000
Fax: +1 713 658 4007
Country address: UNITED STATES OF AMERICA
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