Trace Oil & Gas Company is a hydrocarbon exploration and development company based out of Houston, Texas. Founded in in 1979 by James (Jim Bob) Jackson, who previously worked as a geologist for Exxon & Steve Ferguson, who in 1979 sold a geological electric log service to Petroleum Information then incorporated the Trace Oil and Gas Company.
Our company’s focus is the Gulf Coast Basin in Texas and Louisiana. Over the past 39 years, we have grown into a very successful independent oil and gas company. Trace Oil & Gas has been a part of several hundred prospects and discoveries. Some of our most prominent discoveries were the Neal Hill (Yegua) oil discovery in the early 1980s and the Ulrich (Yegua) gas field in 1984. Ulrich was generated by Trace and sold to Houston Natural Gas, which came to be known later as Enron, which is now EOG Resources. Ulrich field has produced over 50 BCF and 1.6 MMBO over the life of its multiple reservoirs. We also participated in several of the major 3D seismic shoots in the early and late 1990’s, drilling several wells on historic salt domes and fields. One of our most successful seismic discoveries was participating in the Yegua & Cook Mountain discoveries in the 1990s and early 2000s at Orchard Dome, the geological idea was generated by Trace and sold to CML Exploration. To date CML has drilled over 15 wells in our geological prospect. We have also participated in a few wells in Texas state waters with the Rutherford Oil Corporation.
Today the Trace Oil & Gas Company concentrates on drilling low-risk prospects with low cost drilling while using advanced 3D seismic tools and other modern technologies. Recently we have partnered up with Dan A. Hughes Company in 2009 and have shot a 3D survey over the historic Damon Mound salt dome. Dan A. Hughes & Trace also worked the Eagleford trend in Karnes County, Texas, we put together a substantial acreage block and sold it to Plains All American Pipeline. Trace has also participated in several of Magnum Producing’s prospects in Tyler and Hardin counties of Texas, several Wilcox discoveries were made in 2016. Trace Oil & Gas is still generating, analyzing, and investing in prospects all over the United States.