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🛢️ Millionaire of the Week: Michael Late Benedum
Biden’s Parting Shot
The Oilman
January 9th, 2025
Good morning, here's what the OilPatch Team has for you today:
The Offshore Oil Ban
Outgoing president Joe Biden has fired one parting shot at Trump.
He will ban oil and gas exploration along most of the U.S. coast.
And Trump will find it hard to reverse that ban.
Trump says he will reverse Biden's offshore oil drilling ban immediately and 'We will drill, baby, drill.'
— Steve Milloy (@JunkScience)
5:10 PM • Jan 7, 2025
Fixed-Rate Returns for Accredited Investors
How does it work?
You purchase a bond from ROX Energy Capital
You are now a bondholder with the right to receive a 10% fixed annual return — payable monthly.
ROX Energy Capital Buys Working Interests
Bond proceeds are used to purchase non-operated working interests in oil and gas properties. ROX Energy Capital receives the recurring cash flow from these “non-op" working interests for the life of the asset.
You get paid
Bondholders receive their monthly interest payment from ROX Energy Capital for the term length of the bond.
Learn more at ROX Energy Capital
“The Great Wildcatter”
Unlike most oil tycoons, Michael Benedum wasn’t from either Texas or Oklahoma.
He didn’t even get his start there.
Benedum, nicknamed “the Great Wildcatter”, came from coal country.
Born in 1869 in Bridgeport, West Virginia, Benedum got his start in oil by pure chance.
From MacArthur's personal library: The Great Wildcatter (1953) by Sam Mallison. Mallison was head of PR for Michael Benedum’s oil, pipeline, and refining companies. While there, he wrote this biography that celebrated Benedum's work in building an oil empire. #MacArthurArchives
— MacArthur Memorial (@MacArthur1880)
8:05 PM • May 2, 2022
Tweet of the Day
Another year in Oil
— Texberta, PhD (Poor/Poorer) (@Albertagarbage)
6:30 PM • Dec 31, 2024
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Stay oily, my friend.
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