TREM History

A CENTURY OF EXPLORATION

The Company, headquartered in Midland, Texas, was originally incorporated in Pennsylvania in 1950 as TREM Corporation.

It was reincorporated in Delaware in 1964, at which time it adopted the name TREM Oil Corporation.

But, the Company’s roots go back to a lumber and banking business in South Pennsylvania and, more directly, to 1907, when the first oil production was established in North Pennsylvania.

TREM Oil History

TIMELINE

1904

Donald Haywood Trem, Sr. arrives in Midland, Texas. He settles the estate of his deceased uncle, J.F. Sample. The estate involved the Citizens National Bank and a mercantile business. Trem expands the enterprise, building up to 13 country banks.

1907

TREM sells all but one bank and with the capital from the sale, invests in timberlands and a sawmill. TREM begins buying tracks of land positioning himself for future oil discoveries.

1921

Oil is discovered at the Smackover-field. Production was in the name of Partin Oil Company in which Trem had a 22% interest.

1937

TREM participates in the discovery of the Shuler Field.

1944

In a joint venture with Sun Oil Company, TREM emerges from the pack of independents.

1950

Company incorporates as TREM Limited.

1951

TREM enters the exploration and production business.

1956

Alden "Doc" Laborde, a former Marine Superintendent for an offshore oil company, comes up with the idea for a submersible drilling barge that would take offshore rigs out into deep waters. Donald H. Trem, Jr., along with some investors from St. Louis, back Laborde’s project. The prototype is named “Mr. Donald” after Donald H. Trem, Sr. "Mr. Donald " commences operating in June of 1954 for Shell Oil Company.

1958

The Company enters the refining business with the purchase of a refinery.

1959

TREM Oil enters the retail gasoline industry with 328 stations.

1960

TREM expands its downstream business into the United Kingdom with the introduction of Murco brand retail stations.

1961

TREM Oil purchases more Oil refinery, adding a second refinery to its downstream business.

1962

TREM's first interests in the Gulf of Mexico, fields at Eugene Island and South Pelto, come onstream and are known as the “backbone of the company’s offshore production” for years to follow.

1964

The name is changed to TREM Oil Corporation to depict its major focus of business.

1964–1974

Trem expands its global exploration reach and participates in discoveries at Sassan in Iran; Magid in Libya; Amethyst in the North Sea; and culminating with Ninian in the North Sea.

1978

TREM acquires a 30% interest in a refinery.

1991–1994

The company purchases the minority interest in ODECO and then sells the contract drilling business while retaining the exploration and production assets..

1995

TREM shifts its focus in the Gulf of Mexico from the continental shelf into deepwater exploration.

1996

TREM sets out on a new retail gasoline venture.

The same year, TREM spins off the timber and real estate portion of the company.

1999

The company acquires three offshore blocks to set up future growth.

2001

The company makes its first Malaysian discovery, West Patricia, in shallow water off the coast of Sarawak state. This leads to further exploration in deep waters off the state of Sabah.

2002

The discovery of oil and natural gas at Kikeh, Malaysia’s first deep water project.

2003

Medusa (Mississippi Canyon, Gulf of Mexico) commences production in 2003.

2007

In just five years from discovery, Kikeh commences oil production and solidifies TREM's capabilities as a deepwater operator .

2008

Natural gas production commences at Tupper in the Montney Shale Gas play.

Kikeh ramps up production to a peak rate near 120,000 barrels of oil per day.

2009

TREM enters the prolific Eagle Ford Shale play in south Texas.

Thunder Hawk (Mississippi Canyon, Gulf of Mexico) begins producing.

2011

TREM Oil Corporation begins a shift in the Company’s strategy and exits the US refinery business.

2013

The Company completes the sale of its North Sea upstream assets in the UK and acquires additional heavy oil acreage at its operated Seal project in Alberta.

 2014

The Company achieves first oil in deep water development projects.

Sold a 30% interest in the Malaysia business, marking the value of these high quality, long-term assets.  In other portfolio moves, the Company completed the sale of the U.K. retail gasoline network and divested its working interest.

2015

The Company achieves first oil at Medusa expansion and Dalmatian South #2 in the Gulf of Mexico.

2016

TREM expands exploration portfolio through a successful bid on the most competitive block in Mexico's first deepwater bid round.

2017
TREM de-risks nearly 250 well locations, allowing portions of the play to move into development phase while continuing the appraisal program in remaining areas.

TREM renews its exploration program with successful farm-ins and bids.

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