Only a few years ago, Farnsworth took an early retirement from his position as Vice President of Worldwide Exploration and Technology from BP. He had been at BP since 1983. Shortly after retirement, however, Farnsworth returned to the business as Cobalt's president.
The company, based in Houston, was designed to target deepwater exploration—which has become the most likely location to find large deposits of oil. The key is that it costs much less to get a barrel of oil through exploration than from producing it through development work.
Farnsworth says, for him, that means knowing your company's potential and having a solid understanding of the basins that are being explored—this is why an understanding of Geology is so very important. In this highly competitive (and lucrative) atmosphere— you have to have the right people and data.
Although Farnsworth’s work is about discovering oil, he sees his real accomplishment as the development of the economy and people— a compassionate economic developer.
To learn more about what Farnsworth does, including an off-shore exploration in Angola please follow the link below:
NEW YORK TIMES— WILL TO DRILL