George Mitchell, the philanthropic-minded CEO and majority stakeholder of The Woodlands, TX-based Mitchell Energy & Development Co., is putting 4.5 million of his company shares on the block to improve the company’s liquidity and reduce his ownership to under 50%. The secondary offering would leave the 82-year-old with 22.9 million shares — about 45.5% of the independent company he founded.
Woodlands
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Mitchell CEO To Reduce Ownership to Under 50%
George Mitchell, the philanthropic-minded CEO and majority stakeholder of The Woodlands, TX-based Mitchell Energy & Development Co., said this week he is putting 4.5 million of his company shares on the block to improve the company’s liquidity and reduce his ownership to under 50%. The secondary offering would leave the 82-year-old with 22.9 million shares — about 45.5% of the independent company he founded.
April 5, 2001
Expanded Drilling Ups Mitchell’s Production 25%
Mitchell Energy announced increased production for the secondtime in two weeks yesterday, as the Woodlands, TX-based companysaid new drilling technology has lowered drilling costs and allowedthe company to double, and possibly even triple, production fromits Barnett Shale gas play. As a result of this acceleratedproduction, Mitchell has added 213 Bcf of reserves, whichrepresents a 25% increase in its total reserve base.
September 15, 1999
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