Randy A. Foutch
2010 Outstanding Entrepreneur
A modern day "wildcatter" and seasoned deal maker, Randy A. Foutch has the hard-driving work ethic and upbeat spirit required to succeed in the turbulent oil and gas business. A geologist and petroleum engineer by training, Foutch is a West Texas native who has formed and sold several privately held oil and gas companies for large returns over the years.
Foutch is currently chairman and CEO of Tulsa-based Laredo Petroleum, Inc., an independent oil and gas company focused on the acquisition. exploration and development of land in the U.S. mid-continent region. Foutch formed Laredo with an initial commitment of up to $600 million of equity from Warburg Pincus in 2007.
Prior to the formation of Laredo, Foutch founded Latigo Petroleum, Inc., and served as its president and CEO until it was sold for $750 million to Pogo Producing Co. IN 1996 Foutch founded Lariat Petroleum, Inc., and served as president until 2001 when the company was wold to Newfield Exploration, Inc.
He serves on the board of directors of Bill Barrett Corporation, Helmerich & Payne, the Catholic Foundation of Eastern Oklahoma, the Board of Trustees of The University of Tulsa, TU's Friends of Finance and the Gilcrease Museum National Board. He also is a member of the C.M. Russell National Advisory Board, National Petroleum Council, America's Natural Gas Alliance and board member emeritus of Leadership Oklahoma.
He has served as the chairman of the board of the Oklahoma Energy Resources Board, president of the Thomas Gilcrease Museum Association, board member of Indian National Council/Boy Scouts of America, the Philip Neri Newman Center, Broad Oak Energy, MacroSolve, Inc., Oklahoma Independent Petroleum Association, Gryphon Exploration Company, chairman of the OERB Scholastic Outreach Committee and chairman of the International Society of Energy Advocates.
Among many other honors and appearances, Foutch has spoken as a guest commentator on CBS News, and at Harvard Business School's 2010 Annual Energy Symposium.
Foutch was inducted into the 2008 Tulsa Historical Society Hall of Fame and received the American Association of Petroleum Geologists' Public Service Award at its 1999 convention. He holds a Bachelor of Science in Geology from the University of Texas and a Master of Science in Petroleum Engineering from the University of Houston.
Randy and his wife, Jean, have four daughters, Laura, Stephany, Annie and Caroline.