Autry Stephens, the Billionaire Founder of Endeavor Energy Resources, Dies at 86
Autry Stephens, the renowned billionaire founder and chairman of Endeavor Energy Resources, has passed away at the age of 86 after battling cancer. His relentless work ethic and frugal nature were well-known in the industry, with Stephens continuing to work even while receiving medical treatment. Despite facing challenges in the 1980s and 1990s, he successfully built Endeavor into one of the largest privately held oil and gas companies in the U.S.
In a significant move earlier this year, Stephens agreed to sell Endeavor for $26 billion to local rival Diamondback Energy. This deal, expected to close later in the year, marks a major milestone for the company. Stephens’ daughter, Lyndal Greth, will now take over as the chairman of Endeavor’s board of managers, succeeding her father in this role.
Stephens’ journey from growing up on a farm in Texas to founding a successful energy company is a testament to his dedication and entrepreneurial spirit. His innovative strategies, such as acquiring leaseholds for challenging acreage and developing his own operational infrastructure, set him apart in the industry. Additionally, Stephens’ contributions to horizontal drilling have played a key role in the growth of the Permian Basin as a major oil-producing region.
As we reflect on Autry Stephens’ legacy, it is clear that his impact on the energy sector will be felt for years to come. His story serves as an inspiration for aspiring entrepreneurs and investors, highlighting the importance of perseverance and strategic vision in achieving success in the financial markets.