At 85, oil tycoon Autry Stephens is among the wealthiest in the industry, boasting a net worth of $25.9 billion.
Autry C. Stephens, the architect of Endeavor Energy Resources, forged a remarkable career rooted in the oil and gas landscape.
Beginning in 1962 with the Humble Oil and Refining Company, Stephens’ journey took a brief detour as he served in the Army Corps of Engineers for two years.
Returning to Humble, Stephens spent five more years honing his skills before relocating to Midland, Texas. There, as a reservoir engineer at a local bank, he recognized the entrepreneurial opportunities surrounding him.
Stephens founded a sole proprietorship, a venture that would evolve into Endeavor Energy Resources, LP.
His strategic acquisition of land rights in the Permian Basin, coupled with the integration of energy service companies, exemplifies his entrepreneurial prowess.
Autry C. Stephens stands as a visionary leader who has significantly shaped the trajectory of the energy sector.
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Autry Stephens Wikipedia, Age & Daughter
Born in 1939, Autry Stephens, at the age of 85, is widely recognized as the founder of Endeavor Energy Resources, a significant player in oil exploration and production.
With an academic background in Petroleum Engineering from the University of Texas at Austin, Stephens embarked on his career with Humble Oil in 1962, showcasing early signs of his future success.
In 1979, Stephens made a pivotal move, establishing a sole proprietorship in Texas.
This marked the inception of what would later become Endeavor Energy Resources, a privately held company with substantial drilling rights and production capabilities.
With drilling rights on over 500,000 acres in the U.S., primarily in Texas, Endeavor is a key player, producing approximately 311,100 barrels of oil equivalent per day.
In addition to his remarkable career, Stephens has a familial connection within the industry. His daughter, Lyndal Greth, serves as the vice chair of the Endeavor board.
Over the years, his strategic decisions and entrepreneurial spirit have propelled him to notable positions on the Forbes list, as #45 on the Forbes 400 (2023) and #182 on the Billionaires list (2023).
In 1996, Stephens established Big Dog Drilling Co., setting the stage for two decades of success.
Currently, Endeavor is attracting interest from major players like Exxon Mobil and Chevron, with potential bids valuing the company at $15 billion.
Stephens’ resilience and strategic vision have positioned him among the world’s wealthiest individuals in the energy sector.
Autry Stephens Net Worth
Autry Stephens, the 85-year-old oil magnate, is not only a prominent figure in the energy sector but also a family man.
Raised by peanut-and-melon farmers, Stephens founded Endeavor, evolving it into one of the last major privately held producers in the shale-rich Permian region.
As the founder of Endeavor Energy Resources LP, he recently struck a $26 billion deal with Diamondback Energy Inc., solidifying his status as one of America’s wealthiest oil tycoons with an estimated net worth of $25.9 billion.
This familial involvement underscores the continuity of Stephens’ legacy, combining family values with business acumen.
The impending sale to Diamondback Energy Inc. comes with significant financial implications for Stephens and his family.
Following the merger, they are expected to retain just under 40% ownership in the combined company, and Stephens himself is poised to receive a substantial $8 billion in cash.
With a commitment to maintaining Endeavor’s staff of 1,200 employees and keeping the company headquartered in Midland, Texas, Stephens ensures the well-being of both his workforce and the local community.
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