In 1988, the company was formed to own the resource assets of Burlington Northern Railroad.

[2] In 1997, the company acquired Louisiana Land & Exploration, gaining interest in properties in the Gulf of Mexico.

[3] In 1999, the company acquired Poco Petroleums, gaining properties in the Western Canadian Sedimentary Basin.

[5] In 2001, the company acquired Canadian Hunter Exploration, expanding its base in Canada.

[7] In 2004, the company received approval to develop a gas field in China.