‚ÄčA Proud History of Energy Excellence

1949 - 1959

In 1949 E. C. Joullian formed Westoc Oil and Gas and began construction of a pipeline to supply natural gas from the West Edmond gas field to Oklahoma Gas and Electric Company’s (OG&E) new Mustang Power plant. On May 5, 1950, Westoc began operations of Mustang’s first pipeline. In 1951, E.C. Joullian formed Rock Creek Oil and Gas to build a pipeline from Sohio Oil Company’s Elmore gas plant to OG&E’s new Arbuckle power plant and this pipeline became operational in April 1953. During the remainder of the decade Westoc was merged into a new company called Oklahoma Resources Development Company which then merged with Rock Creek Oil and Gas to form Mustang Fuel Corporation.

1960 - 1969

By 1960 Mustang grew from a 194 mile pipeline system to a 730 mile system and on November 6, 1960, Mustang conducted the ceremonial “valve turning” at OG&E’s Muskogee and Horseshoe Lake power stations to take over all gas transmission operations at the utility’s major power plants in Oklahoma. Mustang continued to grow significantly throughout the 60s, constructing pipeline throughout the state including the first transmission line into the Anadarko Basin. On September 6, 1964, E.C. Joullian died unexpectedly and Edward C. Joullian III became the Chairman of the Board. Mustang Gas Products Company was formed in 1968 to direct the design and construction of a jointly owned gas processing plant near Calumet, OK. The Calumet Gas Plant was the second largest gas processing facility in Oklahoma.

1970 - 1979

In 1971 Mustang Production Company was formed to enter the exploration and production business and drilled its first well in LeFlore County, OK. Richard L. Sias was named the President of Mustang Production Company and during the 70s Mustang Production Company participated in drilling over 400 wells, half of which were company operated. The 70s was also a decade of diversification as Mustang Fuel Company of Mississippi and Mississippi Fuel Company were formed in 1972 to provide gas transmission services to Mississippi Chemical Corporation and Mississippi Power and Light Company. Mustang Transport Company was also formed in Okarche, OK to provide crude oil transportation services.

1980 - 1989

The 1980s brought a decade of great change to Mustang and Mustang did extremely well during this period despite one of the worst economic collapses experienced by the energy industry. Mustang began the year by continuing to expand their pipeline operations throughout Oklahoma including a 41 mile expansion in western Oklahoma to interconnect with El Paso Natural Gas Company’s interstate pipeline. On May 15, 1985, Mustang reached an agreement to sell the entire 3,005 mile intrastate pipeline system to OG&E which used the assets to create Enogex LLC. The transaction gave Mustang flexibility for future growth. In 1988 Mustang purchased the Spring Valley gas processing plant and gathering system east of Enid, Oklahoma. Also in 1988, Mustang purchased just over 50 percent of ONEOK Inc’s oil and gas reserves consisting of approximately 1,100 producing wells located primarily in Oklahoma.

1990 - 1999

In 1990 Eagle Gas Marketing Company was formed to begin trading natural gas to take advantage of deregulation in the industry. In 1991 Richard L. Sias retired as the President of Mustang Production Company after serving 19 years with the company. In 1992 E. Carey Joullian IV was named President of Mustang Fuel Corporation and the company refocused on the core business of natural gas exploration and production, gas gathering and processing, and gas marketing. In 1993 Mustang Transport Company and Mustang Fuel Corporation of Mississippi were sold and in 1996 the Chapel Hill gas plant in Smith County, Texas, was purchased from Kerr-McGee.

2000 - 2009

In 2000 Mustang reached a significant milestone as we celebrated our 50th Anniversary. Mustang continued its expansion activities during the 2000s with its acquisition of the Rodman, Ringwood, and Binger gas processing plants and related gathering systems in 2002, and the purchase of ExxonMobil's interest in the Dover/Hennessey gas processing plant and gathering system in 2004. These plants were combined with the existing Spring Valley system. With these acquisitions, Mustang Gas Products now includes 5 gas processing plants and gathering systems covering a producing area of 10 counties in Oklahoma with over 4,000 miles of pipeline.

2010 - TODAY

During the current decade, Mustang continues to demonstrate its ability to successfully adapt to an ever-changing industry and economic environment. In 2015 Mustang celebrated our 65th anniversary, another outstanding achievement. In 2017 Mustang Gas Products announced a multi-year $65 million capital program to increase capacity, efficiency, and reach of its midstream assets. In late 2017 and early 2018, Mustang’s Exploration and Production division closed on a number of asset acquisitions which increased the number of operated properties to over 550 and more than 1,100 non-operated properties. Today is an exciting time at Mustang as we continue to leverage our decades of experience in the energy industry, the significant skillsets of our employees, and a productive and collaborative culture to continue our growth as a leader in the energy industry.