Oilman

Ramping up the photo-ops on oilman T. Boone Pickens’ alternative energy crusade, New Mexico Gov. Bill Richardson Monday became the first of his colleagues nationally to sign a pledge to join Pickens’ campaign to “break America’s addiction to foreign oil.”

Legendary Texas oilman Oscar Wyatt, 83, was sentenced to 12 months and one day in prison after pleading guilty in October to paying illegal kickbacks to Saddam Hussein’s energy regime in exchange for oil contracts in 2001 (see NGI, Oct. 8). Wyatt had faced up to 24 months in prison. Judge Denny Chin of the U.S. District Court for the Southern District of New York issued the sentence. Wyatt had earlier agreed to forfeit $11 million as part of his plea agreement. Wyatt pleaded guilty in October four weeks into a criminal trial and shortly before prosecutors were to complete their case. Wyatt, who founded Coastal Corp., which later merged with El Paso Corp. (see NGI, May 8, 2000),was indicted in late 2005 with five other individuals. He had faced up to 70 years in prison if he had been convicted on all five counts of his indictment. Wyatt had also been charged with conducting financial transactions with Iraq, which was an enemy nation in 2001, and for violating a U.S. embargo with Iraq.

Legendary Texas oilman Oscar Wyatt, 83, was sentenced to 12 months and one day in prison Tuesday after pleading guilty in October to paying illegal kickbacks to Saddam Hussein’s energy regime in exchange for oil contracts in 2001 (see Daily GPI, Oct. 2). Wyatt had faced up to 24 months in prison.

Tulsa oilman Randy Foutch, who created two Midcontinent-focused exploration and production (E&P) companies that were gobbled up by larger independents, has launched Laredo Petroleum with the backing of long-time financial partner Warburg Pincus.

Tulsa oilman Randy Foutch, who created two Midcontinent-focused exploration and production (E&P) companies that were gobbled up by larger independents, has launched Laredo Petroleum with the backing of long-time financial partner Warburg Pincus.

More nuclear generation plants are the future of the electricity sector while natural gas should be concentrated on use as a vehicle fuel, according to Texas oilman T. Boone Pickens, 78, speaking in a wide-ranging question and answer session published in the April 30 Los Angeles Times. Now heavily into hedge fund investments more than oil patch plays, Pickens is the largest single investor in a natural gas supplier to heavy vehicle fleets of buses, trash trucks and airport shuttles called Clean Energy.

More nuclear generation plants are the future of the electricity sector and natural gas should be concentrated on use as a vehicle fuel, according to Texas oilman T. Boone Pickens, 78, speaking in a wide-ranging question and answer session published in Monday’s Los Angeles Times. Now heavily into hedge fund investments more than oil patch plays, Pickens is the largest single investor in a natural gas supplier to heavy vehicle fleets of buses, trash trucks and airport shuttles called Clean Energy.

Four years after selling Anderson Exploration Ltd. to Devon Energy for $4.6 billion, legendary Canadian oilman J.C. Anderson on Tuesday launched a bid to acquire Aquest Energy Ltd. in an all-share transaction.