Leaders of companies exploring for oil and gas had no means of characterizing the multitude of intercompany associations common to the industry. This study examined the patterns of intercompany associations, based on exploration lease joint ventures, for leases active on December 31, 2005 in the U.S. waters of the Gulf of Mexico. The company attributes examined in this study included company status, company size, lease joint venture network centrality, longevity of company lease ownership, and the extent of company operations. The joint count, network and spatial autocorrelation tests detected the significant patterning of intercompany associations by company status, but no patterning by company attributes including size, centrality, longevity, or extent. This study identified the strong tendency to homophily for major companies and heterophily for nonmajor companies. The overall tendency to heterophily by status remained across all the companies included in the study. Oil and gas company leaders and lease resource administrators can use insights from the observed patterns to inform partner selection decisions or lease administration practices.