Draft:Phil Mulacek
 | Draft article not currently submitted for review.
This is a draft Articles for creation (AfC) submission. It is not currently pending review. While there are no deadlines, abandoned drafts may be deleted after six months. To edit or make changes to this draft, simply click on the "Edit" tab at the top of the window. To be accepted, a draft should:
It is strongly discouraged to write about either yourself or your business or employer. If you do so, you must declare it. Where to get help
How to improve a draft
You can also browse Wikipedia:Featured articles and Wikipedia:Good articles to find examples of Wikipedia's best writing on topics similar to your proposed article. Improving your odds of a speedy review To improve your odds of a faster review, tag your draft with relevant WikiProject tags using the button below. This will let reviewers know a new draft has been submitted in their area of interest. For instance, if you wrote about a female astronomer, you would want to add the Biography, Astronomy, and Women scientists tags. Editor resources
Last edited by Bearcat (talk | contribs) 4 days ago. (Update) |
Comment: In accordance with Wikipedia's Conflict of interest guideline, I disclose that I have a conflict of interest regarding the subject of this article. Hollibelle (talk) 08:48, 28 September 2026 (UTC)
Phil Mulacek | |
|---|---|
| Born | Philippe E. Mulacek May 2, 1960 |
| Education | Texas Tech University (BS, Petroleum Engineering) |
| Occupations | Petroleum engineer, businessman, chief executive |
| Known for | Founder and former CEO of InterOil Corporation; Chairman of Empire Petroleum |
Philippe E. "Phil" Mulacek (born May 2, 1960) is an American petroleum engineer and businessman. He founded InterOil Corporation in 1997 and served as its chairman and chief executive officer until 2012–2013. Under his leadership, InterOil built the first petroleum refinery in Papua New Guinea and discovered the Elk-Antelope and Triceratops gas fields, among the largest onshore discoveries in Papua New Guinea and Asia at the time.[1] The Antelope-1 well's 2009 flow test was certified by Guinness World Records.[2] During his tenure, InterOil's market capitalisation grew from approximately US$10 million to over US$4.5 billion, and its share price from about US$0.50 to about US$92.[1] He is the chairman of Empire Petroleum and competes in professional historic and LMP2 sports car racing.[3][4]
Early life and education
[edit]Mulacek was born in Chicago on May 2, 1960,[4] and was raised in the Midwest. He attended Texas Tech University, where he studied petroleum engineering and geology, graduating with a Bachelor of Science in petroleum engineering.[3]
Career
[edit]PIE Corp
[edit]Mulacek founded Petroleum Independent & Exploration Corporation (PIE Corp) in 1981 to carry out oil exploration, drilling, completion and production. The company operated in the southwestern United States, developing more than 90 wells.[5] PIE Corp and affiliated companies later acquired oil and gas royalty and mineral acreage across several U.S. states.[6]
InterOil Corporation
[edit]Founding and refinery
[edit]Mulacek founded InterOil on 1 July 1997 and served as its chairman and chief executive officer.[1] The company was established to build a refinery in Papua New Guinea.[7] InterOil was admitted to the official list of the Australian Stock Exchange on 10 August 2000, and its shares also traded on the TSX Venture Exchange and the Port Moresby Stock Exchange.[8]
In March 2002, InterOil closed a credit facility of up to US$85 million from the Overseas Private Investment Corporation (OPIC), a U.S. government agency, to finance the refinery.[9] The Houston Chronicle reported that it was OPIC's first loan for a project in Papua New Guinea.[10] Construction of the refinery at Napa Napa, near Port Moresby, was completed in 2004, making it the country's first oil refinery;[11] it was later expanded to 36,000 barrels per day.[1]
InterOil built a downstream business alongside the refinery. It acquired BP's Papua New Guinea distribution subsidiary in 2004 in a transaction valued at US$11.3 million, renaming it InterOil Products Limited,[8] and in January 2006 agreed to purchase Shell's retail and distribution assets in the country.[12] Speaking to the press in 2006, Mulacek described InterOil's aim as building a vertically integrated energy company in Papua New Guinea.[13]
Gas discoveries
[edit]In May 2006, InterOil's Elk-1 wildcat well, about 120 kilometres north-west of Kerema, struck gas, and the company's share price rose more than 11% on the American Stock Exchange.[14] The Elk-4 well encountered the Antelope structure in May 2008,[15] and in September 2008 Prime Minister Michael Somare officially opened the flow of gas at Elk-4 in a ceremony attended by several government ministers.[16]
A March 2009 flow test of the Antelope-1 well, also attended by Somare, flowed approximately 382 million cubic feet of gas per day with 5,000 barrels of condensate; the well was reported as the largest onshore vertical hydrocarbon column in the Asia-Pacific region.[17] The result was certified by Guinness World Records, and in December 2009 Mulacek presented the certificate to Gulf Province Governor Havila Kavo. Later that year the Antelope-2 appraisal well flowed at approximately 705 million cubic feet per day.[2][18] The Wall Street Journal listed InterOil among the largest percentage gainers of 2009, with its shares rising about 459% that year on positive natural gas developments.[19] Together with the Triceratops field, the discoveries were estimated at 1.6 billion barrels of oil equivalent of contingent resources.[20]
LNG development and retirement
[edit]In February 2011, InterOil and its joint-venture partners signed project funding and shareholder agreements with Energy World Corporation for a proposed liquefied natural gas plant in Gulf Province to process gas from the Elk and Antelope fields. The signing was witnessed by Prime Minister Somare, Treasurer Peter O'Neill and Petroleum and Energy Minister William Duma, who commended InterOil for building a refinery and developing major gas discoveries within 15 years.[21]
Mulacek stepped down as chairman in August 2012 and retired as chief executive officer on 30 April 2013.[1] During his tenure the company's market capitalisation grew from approximately US$10 million to over US$4.5 billion, with its share price rising from about US$0.50 to about US$92 at his departure.[1]
In 2016, as a founding shareholder, Mulacek led a group of shareholders that requisitioned a special meeting of InterOil shareholders and filed a related petition in the Supreme Court of Yukon.[22]
Later activities
[edit]After leaving InterOil, Mulacek remained active in upstream oil and gas in Papua New Guinea and the United States.[1] He has served as an adviser to Singapore-based Asian Oil & Gas Pte Ltd.
In 2021 he partnered with Empire Petroleum on the Fort Trinidad Field in Texas and was a financial partner in its acquisition of the Eunice Monument Field in the Permian Basin from ExxonMobil. He joined Empire's board in October 2021[6] and is its chairman. He has increased his shareholding in the company, including a US$5 million share purchase in 2023.[23]
Motor racing
[edit]Mulacek grew up around motor racing. As a teenager he volunteered as a corner worker at historic racing events such as the June Sprints, and a ride in a Ferrari 250 LM at one of these events sparked his interest in racing. He began collecting cars while in high school.[24]
He earned his racing certification at Texas World Speedway and competes in historic racing with original, unmodified cars from the 1960s Ford and Ferrari era, including Shelby Cobras, Mustangs and Ford GT40s, with a preference for endurance events. His cars have been raced in SCCA and SVRA events across the United States, including at Circuit of the Americas. They include a 1966 Shelby 427 Cobra reported to be the car Carroll Shelby used at his hall of fame induction, with which Mulacek and his co-drivers won an endurance race. He has described his approach to racing as "safety first, car second, race is last".[24]
He has also competed in the Le Mans Classic, the Spa Six Hours Classic, the Asian Le Mans Series (LMP2 Am class, 2020) and the Radical Gulf Cup.[4] He competes in around six to ten events a year, mainly in the United States and Europe.
Philanthropy
[edit]Mulacek has supported healthcare, orphanages and care for single mothers in the countries and communities where his companies operate.
Personal life
[edit]Mulacek divides his time between Texas and Singapore.
References
[edit]- 1 2 3 4 5 6 7 "InterOil Corp – Schedule 13D/A, Exhibit 99.2". U.S. Securities and Exchange Commission. 2016. Retrieved 2026-09-28.
- 1 2 "Record-breaker expected to hold oil". PNG Report. 3 December 2009. Retrieved 2026-09-28.
- 1 2 "Empire Petroleum Corporation – Form 8-K". U.S. Securities and Exchange Commission. October 2021. Retrieved 2026-09-28.
- 1 2 3 "Phil Mulacek". DriverDB. Retrieved 2026-09-28.
- ↑ "Mulacek, Phil E." The Wall Street Transcript. 15 December 2003. Retrieved 2026-09-28.
- 1 2 "Empire Petroleum Announces Appointment of Phil Mulacek and Ben Marchive II as New Directors" (Press release). Empire Petroleum. 21 October 2021. Retrieved 2026-09-28.
- ↑ "InterOil builds first refinery in Papua New Guinea". Oil & Gas Journal. Retrieved 2026-09-28.
- 1 2 "InterOil Acquires BP's Wholesale and Retail Operations in Papua New Guinea" (Press release). InterOil Corporation. 10 March 2004. Retrieved 2026-09-28.
- ↑ "InterOil Corp – Annual Information Form (Exhibit 99.1)". U.S. Securities and Exchange Commission. 2004. Retrieved 2026-09-28.
- ↑ "InterOil gets loan from OPIC". Houston Chronicle. 14 May 2002. Retrieved 2026-09-28.
- ↑ "InterOil Napa Napa Refinery". Offshore Technology. 13 July 2004. Retrieved 2026-09-28.
- ↑ "InterOil Corp – Annual Information Form 2005". U.S. Securities and Exchange Commission. 2006. Retrieved 2026-09-28.
- ↑ Muapi, Alphonse. "InterOil confident". Post-Courier. Port Moresby.
- ↑ Gomez, Brian (24 May 2006). "InterOil hits gas at Elk-1 in Gulf". The National. Port Moresby. p. 24.
- ↑ "InterOil Corp – Form F-10/A". U.S. Securities and Exchange Commission. 2009. Retrieved 2026-09-28.
- ↑ Kenneth, Gorethy (4 September 2008). "Elk-4 gas well trial in Wabo". Post-Courier. Port Moresby.
- ↑ "Massive gas find in PNG". Marianas Variety. 4 March 2009. Retrieved 2026-09-28.
- ↑ "InterOil produces record gas flow at Antelope". Oil & Gas Journal. 2009. Retrieved 2026-09-28.
- ↑ "Year-End Review of Markets & Finance: Small and Midcap Stocks – Biggest Gainers". The Wall Street Journal. 4 January 2010. p. R6.
- ↑ "InterOil Corporation Announces the Retirement of CEO Phil Mulacek" (Press release). InterOil Corporation via PR Newswire. 23 April 2013. Retrieved 2026-09-28.
- ↑ Bashir, Mohammad (3 February 2011). "Second PNG LNG project gets thumbs up". Post-Courier. Port Moresby.
- ↑ "Founding Shareholder Calls For Special Meeting of InterOil Shareholders" (Press release). PR Newswire. 2016. Retrieved 2026-09-28.
- ↑ "Board chairman at Empire Petroleum increases holdings in firm". Oklahoma Energy Today. 4 December 2023. Retrieved 2026-09-28.
- 1 2 Golseth, Andrew (21 November 2016). "Family Affair: Vintage Racing Is In Phil Mulacek's Blood". Petrolicious. Retrieved 2026-09-28.
External links
[edit]Category:1960 births Category:Living people Category:Businesspeople from Chicago Category:Texas Tech University alumni Category:American racing drivers Category:Asian Le Mans Series drivers