Autry Stephens Wiki, Age, Net Worth, Wife, Kids & More

All About Oil’s New king Autry Stephens

Autry Stephens (age 85, born in March 1938) is the founder and chairman of Endeavor Energy Resources LP, a major player in the oil industry. With over six decades of experience, Stephens has made a significant mark in shaping the oil business landscape.

In a recent move, Diamondback Energy Inc. announced its acquisition of Endeavor Energy Resources LP from Stephens for a whopping $26 billion, comprising cash and stock. This deal is not only a testament to Stephens’s strategic acumen but also positions him for a remarkable rise on the Bloomberg Billionaires Index, where he is expected to climb from 130th to 64th place among the world’s wealthiest individuals.

If the deal is finalized, Stephens would become one of the most successful oil drillers in the country, with an estimated net worth of $25.9 billion based on the current Diamondback share price. This would surpass the wealth of other industry giants like Harold Hamm of Continental Resources Inc. and Jeff Hildebrand of Hilcorp Energy.

How Autry Started His Career in the Oil Industry?

In March 1938, Autry Stephens (age 85) was born in DeLeon, Texas, United States. Hailing from a lineage of farmers cultivating peanuts, watermelons, peaches, and cantaloupes, Autry’s roots were firmly planted in the rich soil of agriculture.

His journey, however, took an unexpected turn after completing his education at the University of Texas, where he earned his BS in 1961 and followed it up with an MS in 1962.

Rather than venturing to Saudi Arabia or Venezuela, Autry found his calling in the United States. His career kicked off at the Humble Oil & Refining Company, and after a seven-year stint, which included a two-year hiatus serving in the Army, he transitioned to the First National Bank of Midland as an appraisal engineer.

It was here that Autry’s entrepreneurial spirit took hold, leading him to the dynamic world of the oil business. In the late 1970s, Autry Stephens embarked on his oil industry journey, a time when vertical drilling was the prevailing method in the Permian Basin of west Texas.

In 1979, he took center stage, founding his one-man show and drilling the inaugural well in Midland County’s Spraberry Field. Recognizing opportunities amidst market fluctuations, Autry strategically acquired oil and gas properties, fortifying his position through leasehold expansions and astute corporate acquisitions.

Stephens kicked off his journey in the oil industry at a time when vertical drilling was the norm, piercing down into the oil-rich rock layers of the Permian Basin in west Texas. In 1979, Stephens founded a one-man show, drilling his first well in Midland County’s Spraberry Field.

Spotting opportunities, he strategically snapped up oil and gas properties, weathering market downturns by expanding his leasehold and making savvy corporate acquisitions.

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How Autry Stephens Achieved Success

During the 1980s and ’90s, when major oil companies were leaving the area and selling off large oil fields, Autry Stephens saw an opportunity. He bought up a lot of land at lower prices, which eventually led to him starting Endeavor Energy Resources, LP in 2000.

Over time, Stephens expanded his business by creating different companies that offered various services like trucking, maintenance, and construction for the energy industry. This way of working together made sure that the energy services his company provided for drilling and production were always reliable.

In 2016, new leaders came in to help Endeavor grow even more. They changed the company’s focus from mainly drilling straight down to also drilling sideways, which is called horizontal drilling, in the Midland Basin.

Since they started drilling horizontally, the Endeavor team has successfully finished over 1,100 wells and now produces more than 400,000 barrels of oil equivalent every day.

The company keeps improving its main assets by using the latest techniques for drilling and finishing wells. This helps them drill faster, spend less money, and produce more oil and gas.

Today, Endeavor has over 1,200 employees and is one of the biggest private oil companies in the Lower 48 states. Autry C. Stephens’ dedication to new ideas and success is clear from the company’s impressive journey.

Autry Stephens’ Wife and Married Life 

Autry Stephens is an American entrepreneur known for his success in the energy industry. Apart from his business achievements, Autry also values a private family life.

Autry is married to Linda Stephens, and the couple has two children, including a daughter named Lyndal Suzanne Stephens. Despite his notable accomplishments, Autry maintains a low profile when it comes to sharing details about his family on social media or in the public eye.

In addition to his entrepreneurial journey, Stephens finds joy in his married life, keeping a balance between professional success and personal happiness.

Autry Stephens FAQs

Ques: How old is Autry Stephens?

Ans: Autry is 86.

Ques: How much is Autry Stephens’ net worth?

Ans: $25.9 billion.

Ques: Who is Autry Stephens’ wife?

Ans: Linda Stephens.