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NEWS

March 14, 2008

RSU Announces Randy Foutch as Second Executive in Residence

Randy FoutchRogers State University recently named Mr. Randy Foutch as the university's second Executive in Residence. Foutch has a long history in the energy industry and he is currently chairman, chief executive officer and president of Tulsa-based Laredo Petroleum.

Foutch has started several successful oil and gas firms and will talk to students about the process of building a business. He will present his talk "Been there, done that—still trying to get it right," twice on Thursday, March 27. Both presentations will be in Herrington Hall on RSU's main Claremore campus. The 11 a.m. presentation will be in room 149 and the 4 p.m. presentation in room 146. Both presentations are open to the public. In addition, RSU will honor Foutch at a private luncheon.

Dr. Bruce Garrison, dean of RSU's School of Business and Technology, said the RSU Executive in Residence Program, now in its second year, is a great asset to students and faculty. The university plans to invite additional executives to campus several times each year, he said. Mr. Keith Bailey, former Williams Companies president, was the university's first Executive in Residence.

"We are pleased to have Randy Foutch as our Executive in Residence and believe his extensive experience starting and growing energy companies will be a great resource for students and faculty," said Dr. Larry Rice, RSU President Designate. "Bringing business leaders to campus is just one of the many ways RSU works to introduce real-world ideas into our classrooms."

Foutch's current venture, Laredo Petroleum, is an independent oil and gas company with a business strategy that is focused on the acquisition, exploration and development of oil and gas properties in the Mid-Continent region of the United States.

"By educating and engaging with college students, Randy Foutch is helping to shape the next generation of business leaders," Garrison said. "Many students have not had the opportunity to meet with a major corporate executive prior to participating in the Executive in Residence program and this will be a memorable and educational experience for our students."

RSU faculty are also looking forward to meeting with Foutch to discuss current trends in the business world and find ways to make RSU business and technology programs even stronger, Garrison said.

Prior to the formation of Laredo, Foutch founded Latigo Petroleum Inc. and served as its president and chief executive officer. Latigo was honored as co-winner of the Oklahoma Venture of the Year Award.

Previous to Latigo, Foutch founded Lariat Petroleum Inc. in 1996 and served as president until January 2001 when it was sold to Newfield Exploration Inc.  He then served as president and chief executive officer of Newfield Exploration Mid-Continent Inc. and vice president of Newfield Exploration Inc. 

Before founding Lariat, he founded Colt Resources in 1991 and sold it in 1996.  Prior to Colt Resources, Foutch was Rocky Mountain regional manager for Anschutz Company and vice president of Exploration for Dyco Petroleum.

"Randy Foutch is heavily involved in the community and I hope students learn the importance of giving back to society after learning about his accomplishments," Garrison said.

Foutch is currently serving on the board of directors of Bill Barrett Corporation, Helmerich and Payne, the Catholic Foundation of Eastern Oklahoma, Indian Nations Council/Boy Scouts of America, and the board of trustees of the University of Tulsa.

He is also a board member and president of the Thomas Gilcrease Museum Association and board member emeritus of Leadership Oklahoma.  Previously, he served as the chairman of the board for the Oklahoma Energy Resources Board, board member of 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 awards and honors, Foutch received the American Association of Petroleum Geologists' Public Service Award at its 1999 convention.

Foutch 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.

More information about the Executive in Residence Program and RSU School of Business and Technology is available by calling (918) 343-7520.