Autry Stephens, Richest Man In Oil & Gas, Dies

Autry Stephens, the richest man in the petroleum industry and founder of Endeavor Energy Resources has died. He was 86 years old. He died from cancer. He recently (February of this year) agreed to sell his company to Diamondback Energy for $26 billion after becoming aware of his cancer diagnosis.

Lynda Stephens, who is his daughter and vice chairman of Endeavor will become the chairman of the company. The sale to Diamondback is still expected to continue as previously announced with the deal expected to close some time later this year, third or fourth quarter of 2024.

Mr. Stephens started Endeavor Resources in the 1990s and had amassed one of the largest acreage positions in the Permian basin of West Texas.