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Home » Tag Archives: Texas shale oil decline

Tag Archives: Texas shale oil decline

How a Texas shale supplier’s founders made fortunes as the firm failed

Drilling rigs operate at sunset

REUTERS, AUGUST 13, 2020 (Reuters) – On July 7, the board of directors at Texas fracking sand supplier Hi-Crush granted nearly $3 million in bonuses to four top executives, including $1.35 million for CEO and founder Robert Rasmus. Five days later, the company declared bankruptcy. The payout marked the latest in a series of board decisions that allowed the oilfield …

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U.S. shale bust slams rural economies as “mailbox money” oil checks shrivel

Oil pumps in a row. Green color.

REUTERS, MAY 22, 2020 The average oil-land owner collects about $500 a month, according to the National Association of Royalty Owners, but that will not last. DeWITT COUNTY, TX – Royalties from oil pumped on Paul Ruckman’s land allowed the South Texas retiree to build a six-bedroom, seven-bathroom vacation home. He had plenty left over, and donated some of it …

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