Texas Conservative, Connecticut Firm Reap Billions on CrownRock Deal
- Tim Dunn will collect nearly $2.2 billion from acquisition
- Lime Rock, founded by Goldman alumni, also set for a windfall
Pumpjacks extract oil in the Permian Basin near Monahans, Texas.
Photographer: Matthew Busch/BloombergThis article is for subscribers only.
A Texas oilman who has spent millions supporting conservative causes and a Connecticut private equity firm founded by Goldman Sachs Group Inc. alumni are set to make billions on Occidental Petroleum Corp.’s acquisition of CrownRock LP.
CrownRock chief executive officer Tim Dunn will collect nearly $2.2 billion of the $10.8 billion Occidental is paying to acquire his Midland, Texas-based shale driller, according to the Bloomberg Billionaires Index.