Wednesday, October 20, 2021
79.9 F
Fort Worth

Texas tycoon awarded $146M by jury in dispute over oil wells

🕐 1 min read

PECOS, Texas (AP) — A jury has awarded oil tycoon T. Boone Pickens $146 million over a dispute related to ownership and revenues from more than 160 oil wells in two West Texas counties.

The jury in Pecos on Wednesday ruled in favor of Pickens’ company, Mesa Petroleum Partners, after a three-week trial.

Pickens had claimed two Midland-based energy companies and one from Dallas had conspired to cheat him out of ownership interests and profits involving more than 160 wells in Reeves and Pecos counties.

Jay Rosser, a spokesman for Pickens, says the Texas tycoon maintained that Mesa’s oil and gas interests were taken illegally.

Paul Rudnicki, chief financial officer of Dallas-based J. Cleo Thompson, says his company believes the evidence doesn’t support the verdict that the firm breached the joint operating agreement.

Related Articles

Our Digital Sponsors

Latest Articles

Texas Rangers
Fort Worth Business Press Logo
This advertisement will close in
00
Months
00
Days
00
Hours
00
Minutes
00
Seconds
seconds..
Click here to continue to Fort Worth Business Press

Not ready to subscribe?

Try a few articles on us.

Enter your email address and we will give you access to three articles a month, to give us a try. You also get an opportunity to receive our newsletter with stories of the day.

This field is for validation purposes and should be left unchanged.

Get our email updates

Stay up-to-date with the issues, companies and people that matter most to business in the Fort Worth.

  • Restaurants
  • Technology
  • and more!

FWBP Morning Brief

FWBP 5@5

Weekend Newsletter

  • Banking & Finance
  • Culture
  • Real Estate