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Thomas Pickens, like all keen entrepreneurs, eventually made a fortune by following his heart and head into an industry that had captured his imagination, in this case, the oil industry.
He established the Mesa Petroleum Company and also made several attempts at taking over other oil companies after deeming the practice more lucrative than simply mining for oil. His tactics and fearlessness brought much fame and fortune to him and to his company.
Thomas Pickens - The Tycoon Who Forged Ahead
Thomas Pickens was a powerful personality from the beginning. He moved to change things and was never idle in his business expansions.
He began work with a refinery and later worked as a geologist for Phillips Petroleum. He left after a few years, gaining experience self-employed in well-site work and consultancy. He eventually partnered with two other people to found Petroleum Exploration, which later grew into the Mesa Petroleum Company.
The business involved identifying prospects then buying and selling them while making a percentage of the profits made by the well as it went through its first few years of operation.
As his company grew, so did Pickens' responsibilities as President. But this didn't prevent him from forming another oil company, this time with the intent to search for oil in Canada. The Altair Oil and Gas Company went on to do exactly that and made $750,000 in 1962 as a result of its successful oil mining operations.
Pickens' toyed with other businesses and diversification but soon realized that buying other oil company's could be more profitable than merely mining. He began to organize take-overs and his mergers and acquisitions became legendary.
While not every deal was successful, he made a fortune in the oil industry by being an incisive and intrepid businessman, always on the lookout for fresh and exciting new deals. His leadership has been most crucial to the Mesa Petroleum Company's, and his other company's, expansion and success.
The Thomas Pickens Quick Bio
Full name: Thomas Boone Pickens
Birth date: May 22, 1928
Birth place: Oklahoma
Company: Mesa Petroleum Company
Industry: Utilities Energy
Key success traits: fearlessness, sharp business sense
Additional:
Known for his company's acquisitions that even extended to the cattle industry. His current net worth is estimated at $2.7 billion.
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