The co-owner of the Texas Rangers baseball team is a 45-year oil veteran who previously sold XTO Energy to Exxon Mobil.
TXO’s holdings of 370,000 net acres are concentrated in the Permian Basin of West Texas and New Mexico and the San Juan Basin of New Mexico and Colorado. Its reserves totaled 130 million barrels of oil equivalent at the end of 2021,Simpson and the company’s management team have invested more than $500 million in the business, according to the filing.
The company’s revenue topped $278 million in 2021, with $64 million in profit. Through nine months of 2022, its revenue totaled $204 million, the latest data included in its regulatory filings.. Paul directs the work of an award-winning staff covering business news in the nation's fourth largest metro region. He's been The News' business editor since 2015. Before that, he was editor-in-chief at the Dallas Business Journal and business editor at the Cleveland Plain Dealer.
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