Taylor Energy

From Wikipedia, the free encyclopedia
Jump to navigation Jump to search

Taylor Energy
Private
IndustryOil drilling
FateDefunct. Shares sold to Korea National Oil Corporation and Samsung C&T Corporation
Founded1979
FounderPatrick F. Taylor
Defunct2008
HeadquartersNew Orleans, Louisiana, United States
ProductsOil and gas
Websitewww.taylorenergy.com

Taylor Energy was an independent American oil company that drilled in the Gulf of Mexico and was based in New Orleans, Louisiana.[1] The company was founded in 1979 by Patrick F. Taylor.[2] Following his death in 2004, his wife Phyllis Taylor assumed ownership and became the chairman and CEO—making her the wealthiest woman in Louisiana. Taylor actively supported the reconstruction of New Orleans after its destruction during Hurricane Katrina.

The company's founder, Patrick Taylor, grew up in Beaumont, Texas, was kicked out of his home by his father, and attended Louisiana State University under a free tuition program. He married Phyllis Miller in 1965, who had grown up in Abbeville, Louisiana, and had been one of the first women to graduate from Tulane Law School.

After achieving success, Taylor became a champion for free college education. He achieved some press in 1988 for promising a group of 183 middle school students that he would provide for their college education if they could maintain their grades;[3] the follow-through was later covered on 60 Minutes.

He would also join with Texas State Senator Royce West in 1998 to form what is now known as the TEXAS Grant program ¹, which pays for college tuition and fees for students from low and middle-income families.

Circa February 1, 2008, Taylor Energy Company, one of the largest privately owned oil and gas companies operating in the Gulf of Mexico, has agreed to sell all its energy assets to a joint venture between Korea National Oil Corporation and Samsung C&T Corporation.[4]

2004 Taylor oil spill[edit]

In 2015 the Associated Press reported that Taylor Energy's well has been leaking oil into the Gulf of Mexico since Hurricane Ivan struck the Gulf of Mexico off of Louisiana in 2004, and that Taylor Energy currently hold only one full-time employee.[5] By October 2018, the continuing spill was approaching the level of the 2010 Deepwater Horizon oil spill,[6] the largest marine oil spill in the history of the petroleum industry.

References[edit]

  1. ^ "Patrick F. Taylor". LSU College of Engineering. Retrieved March 3, 2015.
  2. ^ "Patrick F Taylor Story". Patrick F Taylor Foundation. Retrieved March 3, 2015.
  3. ^ Kennedy, John. "Leave TOPS Alone". Louisiana Dept of the Treasury. Retrieved March 3, 2015.
  4. ^ Carr, Martha (February 1, 2008). "Taylor Energy being sold to Korea National Oil, Samsung". The Times-Picayune. Retrieved March 3, 2015.
  5. ^ Schlanger, Zoë (April 18, 2015). "Oil Spill You've Never Heard of Has Been Leaking Into Gulf of Mexico for a Decade". Newsweek. Retrieved April 19, 2015.
  6. ^ Darryl Fears (October 21, 2018). "A 14-year-long oil spill in the Gulf of Mexico verges on becoming one of the worst in U.S. history". The Washington Post.

External links[edit]