What is Autry Stephens’ Net Worth?
Autry Stephens, the founder and general partner of Endeavor Energy Resources, has an estimated net worth of $25.9 billion, making him the wealthiest oil driller in the United States.
The dramatic increase in Stephens’ wealth is largely attributed to the sale of his company, Endeavor Energy Resources, to Diamondback Energy Inc. for $26 billion in cash and stock. This deal, expected to close in the fourth quarter of 2024, has propelled Stephens’ net worth from $10 billion in 2023 to its current level.
Starting his company in 1979, Stephens has assumed various roles within the industry, from truck driving to engineering. His strategic focus on acquiring and holding drilling rights in Texas, particularly in the Permian Basin, has been a key factor in his financial success. This approach allowed his company to thrive, especially with the advent of horizontal drilling and hydraulic fracturing technologies, which significantly boosted U.S. oil production.
Here’s the breakdown of Autry Stephens’ net worth:
Name: | Autry Stephens |
Net Worth: | $25.9 Billion |
Date of Birth: | March 8, 1938 |
Profession: | Businessman, investor |
If you’re curious about how we estimate a celebrity’s net worth, you can check out our methodology here.
Early Life and Education
Autry Carl Stephens was born on March 8, 1938, and grew up on a farm in DeLeon, Texas, where his family cultivated peanuts and various fruits, including watermelons, peaches, and cantaloupes. This rural upbringing instilled in him a strong work ethic and a love for the outdoors.
Despite his modest beginnings, Stephens was determined to pursue higher education. He attended the University of Texas at Austin, where he earned both a Bachelor of Science and a Master of Science degree in Petroleum Engineering in 1961 and 1962, respectively.
Career
Autry Stephens’ career in the oil industry spans over six decades. He began his professional career with Humble Oil & Refining Company, now part of ExxonMobil, where he worked as an engineer.
After a brief hiatus to serve in the Army Corps of Engineers, Stephens returned to Humble Oil before transitioning to a role as an appraisal engineer at the First National Bank of Midland.
In 1979, he founded Endeavor Energy Resources LP in Midland, Texas, initially focusing on consulting and gradually expanding into drilling and operating oil wells.
Stephens’ strategic approach to acquiring and holding drilling rights, particularly in the Permian Basin, proved to be a game-changer. His preference for using cash rather than debt to acquire these rights allowed him to weather economic downturns, including the 2008 financial crisis.
The advent of horizontal drilling and hydraulic fracturing technologies further boosted his company’s prospects, enabling Endeavor to amass drilling rights to 344,000 acres in the Permian Basin.
In 2024, Diamondback Energy Inc. agreed to acquire Endeavor Energy Resources for $26 billion in cash and stock, propelling Stephens’ net worth to $25.9 billion and making him the wealthiest oil driller in the United States.
Personal Life
Despite his immense success, Autry Stephens has remained a private individual, preferring to focus on his business endeavors rather than seeking the limelight. He is known for his philanthropic efforts, actively supporting various charitable organizations and initiatives.
Stephens’ family has also played a significant role in his business. His daughter, Lyndal Greth, serves as vice chair of Endeavor’s board and is involved in the company’s strategic decisions.
Stephens’ commitment to his family and community is evident in his business practices, such as ensuring job security for Endeavor’s 1,200 employees and maintaining the company’s operations in Midland, Texas, even after the sale to Diamondback Energy.
Ashley Roberts is the founder of Real-Time Billionaires List. She founded this platform because she likes to know how much celebrities are actually making. She is always curious why these people can make much more money than the ordinary person.
With a Bachelor’s degree in finance, she is skilled at financial analysis and understands numbers related to wealth. Most of the articles on this site are edited by herself before publishing.
