MIDLAND, TX-- Midland drilling company owner Autry Stephens is set to make 15 billion dollars, according to CBS 7.
Stephens is an eighty year old man who started a one-rig operation in 1996. Now his company is worth 15 billion dollars just 22 years after the launch.
Exxon Mobile and Cheveron Corp are both currently bidding for the company. If the deal goes through it will make it on the top ten list for biggest deals for a private energy company and make Stephens one the world’s richest people.
The company owns 329,000 net acres of drilling rights in the Permian Basin.
Stephens was a reality TV star on Discoveries "Black Gold." He was casted on the second season where the show was centered around his business, Big Dog Rigs, where they raced to get four rigs completely drilled in 50 days.
Big Dog Rigs is one billion dollars in debt, but does have a value of 15 billions dollars.
Subscribe to the LIVE! Daily
Required
Post a comment to this article here: