Retamco Operating Inc. is a privately held Texas Corporation founded in 1983 by Steve Gose, and is the Controlling Parent of Retama Argentina. It is the successor to a long line of privately and publicly held companies owned and operated by Steve Gose since the early 1950s. From 1973 to 1995, the focus was on operations in Texas whether through Retamco or through TXCO (see description of TXCO activities above under Stephen M. Gose, Jr.), a publicly held company which Steve Gose and Tom Gose initially controlled. . During this time, over 200,000 acres and 200 wells were drilled and developed in the Austin Chalk Zone of Texas by Retamco Operating. In this same period, TXCO developed an inventory in excess of 720,000 net acres in the Maverick Basin of Southwest Texas, drilling hundreds of wells with some producing as much as 15,000 barrels of oil per day. Steve Gose is the Chairman and President of Retamco Operating Inc. and the current Chairman Emeritus of Retama Argentina, LLC , while Tom Gose is the Vice President of Retamco Operating Inc and the Chairman of Retama Argentina.
Since 1996 the Company has been based in Red Lodge, Montana, and has shifted its focus from Texas to the early development of basin-wide resource plays in the Rocky Mountain region. The operating strategy of Retamco is to establish large acreage blocks in highly prospective oil and gas basins and then leverage its position to participate in field development. This early entry strategy keeps leasehold costs low and allows the Company the ability to participate in the development of a wide range of prospects across various geologic regions.
According to Environmental Working Group (EWG), Retamco ranks #63 out of 8,608 active lessees in 12 Western US states, based on total acres leased. Retamco has generally maintained an inventory of oil and gas properties of over 1 million acres throughout the Rocky Mountains. Some of the acreage may be sold off, with that cash, or other funding, then used to pursue exploration and development of the prime acreage retained. This follows a pattern seen frequently over the last 60 years, where Retamco and other entities developed by the founder, Steve Gose, have had considerable success identifying, through detailed review of available basin-wide geological information, areas with the potential to become large-scale fields; or identifying areas of high potential in early stage field developments. These basin wide targets are selected based on detailed review of available geological information and priority is given to those areas with the highest potential for upside return. The current state of drilling and production technology also plays a significant role in determining where Retamco chooses to participate and operate. As detailed in the biographical information on Steve Gose above, past successful oil and gas plays for Retamco and its predecessors include the Ft. Worth Basin during the early 50’s, the Arkoma Basin of Oklahoma during the 60’s and early 70’s, the Austin Chalk play of Texas through the 70’s, 80’s and into the 90’s, the Maverick Basin of Texas during the 80’s and 90’s, and the Denver-Julesburg, Piceance (Colorado) and Uinta (Utah) Basins during the 90’s through the present.