Jury awards oil magnate Pickens $140 million

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A jury in Texas unanimously decided to award in excess of $140 million to oil magnate T. Boone Pickens and his Mesa Petroleum Partners.

Pickens accused J. Cleo Thompson and Delaware Basin Resources of conspiring to cheat him out of profits and ownership interests regarding more than 160 wells in Texas’ Reeves and Pecos counties.

A spokesman for Pickens said in a statement that he is “very grateful to the jury for their time in reaching a fair conclusion to this case.”

“We have maintained from the beginning that Mesa’s oil and gas interests were taken illegally. The Red Bull is part of what is now one of the biggest resource plays in the world, and we are hopeful that the jury’s decision here will mean that the long history of fair dealings in the oil industry continues. This case emphasizes and validates important legal rights, and we are proud to have been a part of it,” the spokesman said in a statement

Christine Wang

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