Forster Rig #1, 1956
History of Forster Drilling
Fred Forster, Sr. was born in 1896 in Iowa and moved to Oklahoma at an early age. The untimely death of his father necessitated going to work to assist in the support his mother and sisters. Because of his mechanical acumen, he was in charge of all machinery in a cotton gin by age fifteen. This eventually led to working on steam-powered drilling rigs for Mandeville and Thompson Drilling Company in the early 1920's. His association with Mandeville and Thompson (later A.W. Thompson Drilling) continued for over 30 years in Oklahoma, Texas and New Mexico as Drilling Superintendent. He made many innovations in the drilling industry that are standard practices today.
Fred Forster, Jr., joined his father at Thompson Drilling in 1948 as an engineer and then rig supervisor (tool pusher). In 1952, they formed Forster Drilling headquartered in Odessa, Texas with one rotary-drilling rig. The Company ultimately grew to a 10-rig fleet including a division operating in Arkansas.
In 1966, Forster Drilling consolidated with Major and Giebel Oils of Midland, Texas forming the partnership of Major Giebel and Forster (later becoming MGF Oil Corporation) and MGF Drilling Company, a wholly owned subsidiary. MGF Drilling eventually grew to a 55 rig drilling fleet operating in five geologic provinces including offshore drilling barges.
In 1975, Fred Forster, Jr., retired from MGF and two years later formed the second Forster Drilling with his son, Fred Forster III by acquiring a 4-rig drilling company in Fort Worth, Texas. Under the Forsters' careful management, the acquired company went from a losing venture to an entity making in excess of $1 million per year.
In 1980, Forster Drilling sold its drilling rigs to Williams Brothers of Tulsa, Oklahoma. Fred Forster III continued with Wilbros Drilling until he and his father acquired Pulliam Drilling in Woodward, Oklahoma. Fred Forster III was president of the 3-rig company. Pulliam was later merged into Norsul Oil and Gas of Albany, Georgia and Pulliam became Norsul Drilling. Norsul was ultimately sold to Wes-Tex Drilling of Abilene.
Forster Drilling Corporation was organized pursuant to the laws of the state of Nevada first quarter 2005 with Fred Forster, Jr. as Chairman Emeritus and Fred Forster III as Chairman and CEO with Forster Family and the Thompson Family as the founding shareholders.