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The pace of growth achieved during Wolf's first years of stewardship by far outstripped the financial increases recorded during Westport's first five years of existence. The first years of the 21st century witnessed equally robust growth, as Westport aggressively expanded its operations through mergers and acquisitions.
By the summer of , a new merger was being discussed, one Wolf referred to as a "watershed event" in a June 12, interview with the Oil Daily. Belco was formed in and, like Westport, developed its reserve base by following a program of acquisitions, exploration, exploitation, and development drilling.
Belco also operated in many of the same regions as Westport, dividing its operations into four areas that included the Rocky Mountains, the Gulf Coast, the Permian Basin of west Texas, and the Midwest. Merger discussions were held throughout the summer of and concluded in August In the years immediately following the Belco merger, Westport concluded several small acquisitions and two major acquisitions.
Briefly, it looked as if Westport might be acquired by another company, Australia's second largest oil company, Woodside Petroleum. In September , Woodside confirmed that it was seriously considering several potential acquisitions, with Westport listed as one of two companies named in the business press. By the following month, however, Woodside announced that it was stopping its pursuit of Westport. Meanwhile, Westport executives were busy working out the details of a major acquisition.
Westport's financial strength during the early years of the decade was not a trait every energy company could claim to possess. Westport benefited from the financial ailments of its much larger competitor, purchasing wells and pipelines and other natural gas assets located in Utah from El Paso. Westport's next major acquisition was completed a year after the El Paso purchase was completed. In December , the company acquired oil and gas properties from United Resources, a privately held company.
Mergers and acquisitions described much of Westport's development, particularly during the late s and the early years of the 21st century. The same corporate maneuvers that built the company also threatened to trigger its disappearance. The merger, if approved by shareholders, was expected to create the nation's fifth largest independent oil and gas producer, a company to be operated as Kerr-McGee Corp.
The Westport name, after 13 years in existence, was expected to be dropped. In a Westport press release dated April 7, , Wolf commented on the pending deal.
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