George Bishop – Billionaire

In late 2013 George Bishop notched one of the great scores of the oil boom when his GeoSouthern Energy sold its Eagle Ford shale fields to Devon Energy for $6 billion cash. After payouts to partners and investors like Blackstone, Bishop is believed to have cleared at least $1.5 billion from the deal. In 2015 Bishop redeployed some of that cash, teaming with asset manager GSO Capital Partners to buy Encana’s position in the Haynesville Shale in Louisiana for $850 million. Bishop, who is very private, also owns the Eagleford Restaurant in Cuero, Texas and is a partner in the River Ridge Golf Club, west of Houston. In 2014 he reportedly bought the Chub Cay island resort in the Bahamas.

George Bishop Net Worth: George Bishop is an American entrepreneur who has a net worth of $3 billion. George Bishop earned the billionaire status this year as the owner of GeoSouthern, an oil producing company. It was in November 2013 that George received a huge payday after Devon Energy decided to give $6 billion in cash for the 82,000 acres of Eagle Ford shale oil fields operated by his little-known company GeoSouthern Energy. If we make rough estimations, Bishop will approximately receive a clear profit of $1.5 billion in cash from the deal, after paying out other partners in the Eagle Ford venture. But aside from the above sum, he has some other sources of income. Through GeoSouthern, which he set up in 1981, he owns plenty of other oil and gas fields along the Gulf coast. Plus, George Bishop still owns the Eagleford Restaurant in Cuero, Texas and is a partner in the River Ridge Golf Club, just west of Houston.

Source:

1. forbes

2. celebritynetworth