Another Dallas Icon heads for Tarrant County (Houston, Fort Worth: how much, to buy)

[nunusguy]

Fort Worth's XTO Energy said Tuesday it will buy Hunt Petroleum Corp. for $4.186 billion in cash and stock.
*
Hunt Petroleum is owned by the families of Margaret Hunt Hill, the eldest daughter of oilman H.L. Hunt, and Hassie Hunt.
XTO Energy to buy Hunt Petroleum for $4.19B | Dallas Morning News | News for Dallas, Texas | Dallas Business News
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Like the most famous icon of all from Dallas, the Dallas Cowboys who are moving over to the Ft.Worth/Arlington area in Tarrant County soon, Hunt Oil
is being acquired lock, stock, & barrel and effectively will be relocating to
Ft. Worth in Tarrant County.
For those who don't know, the story is that the origional Hunt Oil in all of its glory back in the day when H.L. ran it was rumored to be the inspiration for the TV show "Dallas".

[awecelot]

Hunt Petroleum and Hunt Oil are not the same company. Hunt Petroleum was owned by the families of Margaret Hill Hunt (who actually owned it is the subject of a lawsuit), while Hunt Oil is part of Hunt Consolidated, which is owned by Ray Hunt.

[loves2read]

actually I am surprised that the amount is as low as it is--
their holdings must not be as large/desireable as I thought--
Trevor Rees Jones sold his Barnett Shale play much of which was not producing for MUCH more than 4 billion...

read the article linked to that one--about the Hunt/Hill intercine battle that lead to this sale--if it goes through--it may not if Al 3 can get an injuction to hold it up so that his legal issues can be decided
if the deal goes through then he has lost his case without even taking it to court--you can't put the egg back in its shell...

thought an interesting aside was the comment about how much the value of the Hunt oil changed from one year's evaluation to another--
Tom Hill is not the person I would trust to be running that company/trust
that is as Al 3 says a compromised position--he might not have lied to his great aunt Margaret but bet he would to to anyone else...

[nunusguy]

HOUSTON — XTO Energy agreed on Tuesday to buy the Hunt Petroleum Corporation for nearly $4.2 billion in cash and stock, adding some profitable oil and gas wells to its portfolio. But the deal is also adding fuel to the fire of a family feud embroiling the Texas dynasty founded by the legendary oilman H. L. Hunt.
Hunt Petroleum traces its roots back nearly a century to when H. L. Hunt invested some poker winnings into one of the country’s first oil rushes and made his way to East Texas to become one of the nation’s richest oilmen. The company still operates gas and oil fields in Texas, Louisiana, Mississippi, North Dakota and the Gulf of Mexico.
http://www.nytimes.com/2008/06/11/bu...=1&oref=slogin
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This is the story out of todays NY Times on the merger and I think it involves
the company that according to popular beliefs (whether accurate or not) was
owned by the family which again according to myth was the inspiration
for J.R. and kin.
I dunno 'bout Hunt Oil vs. Hunt Petro, perhaps one is a holding company and
the other the primary operating entity which managed the bulk of the O&G assets ?

[awecelot]

Originally Posted by nunusguy

I dunno 'bout Hunt Oil vs. Hunt Petro, perhaps one is a holding company and
the other the primary operating entity which managed the bulk of the O&G assets ?

Totally separate companies owned by two different parts of the Hunt family.

Hunt Petroleum - Wikipedia, the free encyclopedia
Hunt Petroleum founded in 1950 as Petrol Petroleum
"Hunt Petroleum Corporation has no common ownership and is not affiliated with any of the following entities: Hunt Oil Company; Petro-Hunt, LLC; Hunt Exploration; Unity Hunt; Hunt Properties; or Rosewood Resources."

Ray Lee Hunt - Wikipedia, the free encyclopedia
Ray L. Hunt, owner of Hunt Oil
"Ray Lee Hunt (1943-) inherited most of father's H.L. Hunt Hunt Oil Co. along with his three sisters"

[Cowboybootnut]

H L Hunt was a fascinating man, there a several books and articles about him. I don't know it they are 100% true though.

[FarNorthDallas]

Hunt Consolidated (Ray L. Hunt) just built a brand new building in downtown Dallas. It just opened a few months ago. He's not going anywhere.

[awecelot]

Originally Posted by Cowboybootnut

H L Hunt was a fascinating man, there a several books and articles about him. I don't know it they are 100% true though.

If it's believable, it probably isn't true...the man was one-of-a-kind.

FarNorthDallas - completely correct. Ray Hunt and Hunt Consolidated (Hunt Oil + other Ray Hunt companies) are going nowhere soon.

[nunusguy]

Originally Posted by awecelot

If it's believable, it probably isn't true...the man was one-of-a-kind.

FarNorthDallas - completely correct. Ray Hunt and Hunt Consolidated (Hunt Oil + other Ray Hunt companies) are going nowhere soon.

No matter, Hunt Oil or Hunt Petro are very small, insignificant players in the industry in contemporary times and 4 B does not even qualify as a modest sized independant in todays extremely capital intensive O&G industry.
And as far as J.R goes, he clearly went straight thru NTexas on his way south to the Gulf Coast sometime shortley after WW2 when he left OKlahoma.
But it's all fine and well for every local to have its legends no matter how far removed from reality they might be.

[Cowboybootnut]

I doubt if they would come up with the idea of the "Dallas" TV show today, they would probably name it "Houston" "Midland" or "Fort Worth" instead. Dallas is not a major city when it comes to the oil business anymore. Most of the larger companies have been bought and moved to Houston.

The book, "Texas Rich" is a good (if accurate) biography on HL Hunt and family, up to the silver crisis.