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.infobox-full-data:not(.notheme)>div:not(.notheme)[style]{background:#1f1f23!important;color:#f8f9fa}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .infobox-full-data:not(.notheme) div:not(.notheme){background:#1f1f23!important;color:#f8f9fa}}@media(min-width:640px){body.skin--responsive .mw-parser-output .infobox-table{display:table!important}body.skin--responsive .mw-parser-output .infobox-table>caption{display:table-caption!important}body.skin--responsive .mw-parser-output .infobox-table>tbody{display:table-row-group}body.skin--responsive .mw-parser-output .infobox-table tr{display:table-row!important}body.skin--responsive .mw-parser-output .infobox-table th,body.skin--responsive .mw-parser-output .infobox-table td{padding-left:inherit;padding-right:inherit}}</style><style data-mw-deduplicate="TemplateStyles:r1242257876">.mw-parser-output .ib-company .infobox-label{padding-right:0.5em}.mw-parser-output .ib-company .infobox-data,.mw-parser-output .ib-company .infobox-below{line-height:1.35em}.mw-parser-output .ib-company-logo img{background-color:#f8f9fa}.mw-parser-output .ib-company-locality,.mw-parser-output .ib-company-country{display:inline}</style><table class="infobox ib-company vcard"><caption class="infobox-title fn org">Triton Energy Limited</caption><tbody><tr><td colspan="2" class="infobox-image ib-company-logo logo"><span class="mw-default-size" typeof="mw:File/Frameless"><a href="/wiki/File:Triton-energy-logo.PNG" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/en/thumb/f/f4/Triton-energy-logo.PNG/220px-Triton-energy-logo.PNG" decoding="async" width="220" height="137" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/f/f4/Triton-energy-logo.PNG 1.5x" data-file-width="225" data-file-height="140" /></a></span></td></tr><tr><th scope="row" class="infobox-label">Industry</th><td class="infobox-data category"><a href="/w/index.php?title=Oil_and_Gasoline&action=edit&redlink=1" class="new" title="Oil and Gasoline (page does not exist)">Oil and Gasoline</a></td></tr><tr><th scope="row" class="infobox-label">Founded</th><td class="infobox-data">1962</td></tr><tr><th scope="row" class="infobox-label">Defunct</th><td class="infobox-data">2001</td></tr><tr><th scope="row" class="infobox-label">Fate</th><td class="infobox-data">Acquired by Amerada Hess Corporation</td></tr><tr><th scope="row" class="infobox-label">Successor</th><td class="infobox-data"><a href="/wiki/Amerada_Hess_Corporation" class="mw-redirect" title="Amerada Hess Corporation">Amerada Hess Corporation</a> (now <a href="/wiki/Hess_Corporation" title="Hess Corporation">Hess Corporation</a>)</td></tr><tr><th scope="row" class="infobox-label">Headquarters</th><td class="infobox-data label"><a href="/wiki/Dallas,_Texas" class="mw-redirect" title="Dallas, Texas">Dallas, Texas</a></td></tr><tr><th scope="row" class="infobox-label">Products</th><td class="infobox-data"><a href="/wiki/Petrochemical" title="Petrochemical">Petrochemical</a></td></tr></tbody></table> <p><b>Triton Energy Limited</b> (<a href="/wiki/New_York_Stock_Exchange" title="New York Stock Exchange">NYSE</a>: OIL) (formerly known as <b>Triton Energy Corporation</b> prior to March 25, 1996)<sup id="cite_ref-1" class="reference"><a href="#cite_note-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup> was one of the largest independent oil and <a href="/wiki/Natural_gas" title="Natural gas">natural gas</a> exploration and production companies in the United States. Triton was founded in Dallas, Texas by E.R. Wiley in 1962, and had total proved reserves of almost 300 million barrels of oil equivalent when <a href="/wiki/Amerada_Hess_Corporation" class="mw-redirect" title="Amerada Hess Corporation">Amerada Hess Corporation</a> purchased it in 2001 for $3.2 billion. At the time, Triton had operations in North and South America, West Africa, Southeast Asia, Europe, Australia and New Zealand.<sup id="cite_ref-phx.corporate-ir.net_2-0" class="reference"><a href="#cite_note-phx.corporate-ir.net-2"><span class="cite-bracket">[</span>2<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="History">History</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Triton_Energy&action=edit&section=1" title="Edit section: History"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Triton Energy began business in 1962 in much the same way as other <a href="/wiki/Wildcatter" title="Wildcatter">wildcatter</a> oil companies of its day. However, unlike many other U.S. based oil companies, Triton spent much of the 1960s and early 1970s scouring the globe for large reserves of oil and <a href="/wiki/Natural_gas" title="Natural gas">natural gas</a>. Ignoring potentially low-return domestic opportunities for higher risk, but much more lucrative overseas exploration, Triton offset its expensive exploration costs with large finds in Thailand, France, and Australia.<a rel="nofollow" class="external autonumber" href="https://money.cnn.com/magazines/fortune/fortune_archive/1986/03/31/67308/index.htm">[1]</a> </p><p>By the mid 1980s the entire oil industry was suffering setbacks due to a glutted oil market and plunging gas prices, and Triton was no exception. Despite increasing revenues and doubling sales, Triton posted losses of $7.8 million in 1988 and, in an effort to mitigate its oil losses, diversified into other energy-related industries, including seismic equipment manufacturing, domestic pipeline systems and airport services operations.<sup id="cite_ref-fundinguniverse.com_3-0" class="reference"><a href="#cite_note-fundinguniverse.com-3"><span class="cite-bracket">[</span>3<span class="cite-bracket">]</span></a></sup> </p><p>Finally, in 1991 a major oil discovery in Colombia turned the company's stock around.<sup id="cite_ref-4" class="reference"><a href="#cite_note-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup> Despite the new oil reserve the company continued to post losses each year because the Colombian drilling operations would not produce a positive cash flow until 1995. Triton reorganized the corporation and in 1992 moved William Lee, who had been president since 1966, to the position of chairman of the board and replaced him with Thomas G. Finck, a petroleum engineer and industry veteran.<sup id="cite_ref-5" class="reference"><a href="#cite_note-5"><span class="cite-bracket">[</span>5<span class="cite-bracket">]</span></a></sup> Within a year, Finck became chief executive officer and, in 1995, became chairman.<sup id="cite_ref-fundinguniverse.com_3-1" class="reference"><a href="#cite_note-fundinguniverse.com-3"><span class="cite-bracket">[</span>3<span class="cite-bracket">]</span></a></sup> </p><p>In 1997, Triton notably became the subject of a <a href="/wiki/Securities_and_Exchange_Commission" class="mw-redirect" title="Securities and Exchange Commission">Securities and Exchange Commission</a> complaint, which alleged that Triton had violated the <a href="/wiki/Foreign_Corrupt_Practices_Act" title="Foreign Corrupt Practices Act">Foreign Corrupt Practices Act</a>. According to the <i>New York Times</i>, "The unusual complaint was brought by the Securities and Exchange Commission, which contends that Triton officials not only made payments that violated the Foreign Corrupt Practices Act, but also falsified their records to make the bribes appear to be routine business payments." Triton settled the case for US$300,000.<sup id="cite_ref-6" class="reference"><a href="#cite_note-6"><span class="cite-bracket">[</span>6<span class="cite-bracket">]</span></a></sup> </p><p>At the same time that Triton's oil and gas reserves were increasing, the company began divesting its non-oil subsidiaries and reducing its working operations.<sup id="cite_ref-7" class="reference"><a href="#cite_note-7"><span class="cite-bracket">[</span>7<span class="cite-bracket">]</span></a></sup> The company continued to focus its attention on exploration and development, and entered the new millennium, posting annual net profits.<sup id="cite_ref-8" class="reference"><a href="#cite_note-8"><span class="cite-bracket">[</span>8<span class="cite-bracket">]</span></a></sup> </p><p>In July 2001, <a href="/wiki/Amerada_Hess_Corporation" class="mw-redirect" title="Amerada Hess Corporation">Amerada Hess Corporation</a> and Triton announced an agreement under which Hess would purchase all outstanding ordinary shares of Triton for $45.00 per share; 50% over Triton's closing stock price the day before. According to press releases, the purchase would greatly increase Hess's production growth and exploration potential and would make Hess one of the world's largest independent energy exploration and production companies.<sup id="cite_ref-phx.corporate-ir.net_2-1" class="reference"><a href="#cite_note-phx.corporate-ir.net-2"><span class="cite-bracket">[</span>2<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="References">References</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Triton_Energy&action=edit&section=2" title="Edit section: References"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1239543626">.mw-parser-output .reflist{margin-bottom:0.5em;list-style-type:decimal}@media screen{.mw-parser-output .reflist{font-size:90%}}.mw-parser-output .reflist .references{font-size:100%;margin-bottom:0;list-style-type:inherit}.mw-parser-output .reflist-columns-2{column-width:30em}.mw-parser-output .reflist-columns-3{column-width:25em}.mw-parser-output .reflist-columns{margin-top:0.3em}.mw-parser-output .reflist-columns ol{margin-top:0}.mw-parser-output .reflist-columns li{page-break-inside:avoid;break-inside:avoid-column}.mw-parser-output .reflist-upper-alpha{list-style-type:upper-alpha}.mw-parser-output .reflist-upper-roman{list-style-type:upper-roman}.mw-parser-output .reflist-lower-alpha{list-style-type:lower-alpha}.mw-parser-output .reflist-lower-greek{list-style-type:lower-greek}.mw-parser-output .reflist-lower-roman{list-style-type:lower-roman}</style><div class="reflist"> <div class="mw-references-wrap"><ol class="references"> <li id="cite_note-1"><span class="mw-cite-backlink"><b><a href="#cite_ref-1">^</a></b></span> <span class="reference-text"><a rel="nofollow" class="external text" href="http://secinfo.com/dupnj.82.htm#6thPage">Triton Energy Limited 10K 12/31/96</a></span> </li> <li id="cite_note-phx.corporate-ir.net-2"><span class="mw-cite-backlink">^ <a href="#cite_ref-phx.corporate-ir.net_2-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-phx.corporate-ir.net_2-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text"><a rel="nofollow" class="external text" href="http://phx.corporate-ir.net/phoenix.zhtml?c=101801&p=irol-newsArticle&ID=490163&highlight=">Hess Corporation: 2001 Press Release</a></span> </li> <li id="cite_note-fundinguniverse.com-3"><span class="mw-cite-backlink">^ <a href="#cite_ref-fundinguniverse.com_3-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-fundinguniverse.com_3-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text"><a rel="nofollow" class="external text" href="http://www.fundinguniverse.com/company-histories/Triton-Energy-Corporation-Company-History.html">Profile in International Directory of Company Histories, Vol. 11. St. James Press, 1995 (via fundinguniverse.com)</a>.</span> </li> <li id="cite_note-4"><span class="mw-cite-backlink"><b><a href="#cite_ref-4">^</a></b></span> <span class="reference-text"><a rel="nofollow" class="external text" href="https://query.nytimes.com/gst/fullpage.html?res=9D0CE3D81F30F93AA1575BC0A967958260">"Putting a Value on Triton Energy" <i>The New York Times</i>, August 29, 1991</a></span> </li> <li id="cite_note-5"><span class="mw-cite-backlink"><b><a href="#cite_ref-5">^</a></b></span> <span class="reference-text"><a rel="nofollow" class="external text" href="https://www.nytimes.com/1992/08/14/business/company-news-triton-energy-announces-new-lineup-of-top-officials.html">"Triton energy announces New Lineup of Top Officials", <i>The New York Times</i>, August 14, 1992</a></span> </li> <li id="cite_note-6"><span class="mw-cite-backlink"><b><a href="#cite_ref-6">^</a></b></span> <span class="reference-text"><a rel="nofollow" class="external text" href="https://query.nytimes.com/gst/fullpage.html?res=9E02E4D81231F93BA15751C0A961958260">"Triton Energy Settles Indonesia Bribery Case for $300,000", <i>The New York Times</i>, February 28, 1997</a></span> </li> <li id="cite_note-7"><span class="mw-cite-backlink"><b><a href="#cite_ref-7">^</a></b></span> <span class="reference-text"><a rel="nofollow" class="external text" href="https://query.nytimes.com/gst/fullpage.html?res=9C0CEEDA123CF932A3575BC0A966958260">"Triton Is Planning To Sell Some Assets", <i>The New York Times</i>, August 1, 1990</a></span> </li> <li id="cite_note-8"><span class="mw-cite-backlink"><b><a href="#cite_ref-8">^</a></b></span> <span class="reference-text"><a rel="nofollow" class="external text" href="http://www.secinfo.com/dupnj.4f895.htm">Triton Energy Ltd 10K 12/31/00</a></span> </li> </ol></div></div> <div class="mw-heading mw-heading2"><h2 id="External_links">External links</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Triton_Energy&action=edit&section=3" title="Edit section: External links"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <ul><li>McFadden, Michael. <a rel="nofollow" class="external text" href="https://money.cnn.com/magazines/fortune/fortune_archive/1986/03/31/67308/index.htm">"Which oil stocks and when?"</a>, <i>Fortune</i>, March 31, 1986. Accessed April 12, 2007.</li> <li><a rel="nofollow" class="external text" href="http://www.fundinguniverse.com/company-histories/Triton-Energy-Corporation-Company-History.html">Triton Energy Corporation Company History</a></li></ul>    </div><noscript><img src="https://login.wikimedia.org/wiki/Special:CentralAutoLogin/start?type=1x1" alt="" width="1" height="1" style="border: none; position: absolute;"></noscript> <div class="printfooter" data-nosnippet="">Retrieved from "<a dir="ltr" href="https://en.wikipedia.org/w/index.php?title=Triton_Energy&oldid=980604935">https://en.wikipedia.org/w/index.php?title=Triton_Energy&oldid=980604935</a>"</div></div> <div id="catlinks" class="catlinks" data-mw="interface"><div id="mw-normal-catlinks" class="mw-normal-catlinks"><a href="/wiki/Help:Category" title="Help:Category">Categories</a>: <ul><li><a href="/wiki/Category:Defunct_oil_companies_of_the_United_States" title="Category:Defunct oil companies of the United States">Defunct oil companies of the United States</a></li><li><a href="/wiki/Category:Petroleum_in_Texas" title="Category:Petroleum in Texas">Petroleum in Texas</a></li><li><a href="/wiki/Category:Companies_based_in_Dallas" title="Category:Companies based in Dallas">Companies based in Dallas</a></li><li><a href="/wiki/Category:Energy_companies_established_in_1962" title="Category:Energy companies established in 1962">Energy companies established in 1962</a></li><li><a href="/wiki/Category:Non-renewable_resource_companies_established_in_1962" title="Category:Non-renewable resource companies established in 1962">Non-renewable resource companies established in 1962</a></li><li><a href="/wiki/Category:American_companies_established_in_1962" title="Category:American companies established in 1962">American companies established in 1962</a></li><li><a href="/wiki/Category:American_companies_disestablished_in_2001" title="Category:American companies disestablished in 2001">American companies disestablished in 2001</a></li><li><a href="/wiki/Category:1962_establishments_in_Texas" title="Category:1962 establishments in Texas">1962 establishments in Texas</a></li><li><a href="/wiki/Category:2001_disestablishments_in_Texas" title="Category:2001 disestablishments in Texas">2001 disestablishments in Texas</a></li><li><a href="/wiki/Category:Companies_formerly_listed_on_the_New_York_Stock_Exchange" title="Category:Companies formerly listed on the New York Stock Exchange">Companies formerly listed on the New York Stock Exchange</a></li><li><a href="/wiki/Category:Non-renewable_resource_companies_disestablished_in_2001" title="Category:Non-renewable resource companies disestablished in 2001">Non-renewable resource companies disestablished in 2001</a></li></ul></div></div> </div> </main> </div> <div class="mw-footer-container"> <footer id="footer" class="mw-footer" > <ul id="footer-info"> <li id="footer-info-lastmod"> This page was last edited on 27 September 2020, at 12:22<span class="anonymous-show"> (UTC)</span>.</li> <li id="footer-info-copyright">Text is available under the <a href="/wiki/Wikipedia:Text_of_the_Creative_Commons_Attribution-ShareAlike_4.0_International_License" title="Wikipedia:Text of the Creative Commons Attribution-ShareAlike 4.0 International License">Creative Commons Attribution-ShareAlike 4.0 License</a>; additional terms may apply. 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