William Moncrief, Jr.

$1.00 B

Ranked #1565 in World

About William Moncrief, Jr.

William Alvin Moncrief Jr. (1920-2021), known as Tex Moncrief, was a pivotal figure in the American oil industry, with a career that spanned several decades. Born in Fort Worth, Texas, his early exposure to the oil sector fueled his ambition, leading to a petroleum engineering degree from the University of Texas and service in the United States Naval Reserve during World War II. Joining Moncrief Oil post-war, he and his father made significant discoveries across the United States, amassing considerable wealth, estimated at $1 billion by 2006. Despite legal challenges, including a notable IRS settlement in 1996, Moncrief's legacy also includes substantial philanthropic contributions to education and civic causes in Fort Worth. His life story reflects the complexities of success in the oil industry and the impactful role of individual entrepreneurs in shaping the energy sector.

Born

March 27, 1920 in Fort Worth, Texas, U.S.

Died

December 29, 2021 (aged 101)

Source Of Wealth

Oil

Industries

Energy

Citizenship

United States

Residence

Fort Worth, TX

Education

Bachelor of Arts / Science, The University of Texas at Austin

Children

Parent

Elizabeth Moncrief, William Alvin Moncrief

William Alvin Moncrief Jr., better known as Tex Moncrief, was born on March 27, 1920, in Fort Worth, Texas. His early life was marked by a significant event that sparked his interest in becoming an oilman. At the age of 10, he witnessed the opening of a gusher oil well in Gregg County, leaving a lasting impression on him.

Moncrief demonstrated academic excellence throughout his education. He graduated cum laude from Culver Military Academy in 1937 and went on to earn a degree in petroleum engineering from the University of Texas in 1942. His educational background laid the foundation for his successful career in the oil industry.

During World War II, Moncrief served in the United States Naval Reserve as a communication officer in the Pacific. His military service contributed to his personal growth and leadership skills.

William Moncrief, Jr.: Family

Tex Moncrief came from a prominent family in Fort Worth. His father, William Alvin Moncrief Sr., was a successful oilman who instilled in him the principles of hard work and entrepreneurship. Moncrief's mother, Mary Alice Moncrief, played a supportive role in shaping his upbringing.

Moncrief had four surviving sons from his first two marriages: William, Richard, Charlie, and Tom. He later married for a third time and had five more children. Tragically, he lost two children: his son John Herbert in a motorcycle accident and his daughter Monty Francine to leukemia.

William Moncrief, Jr.: Career Highlights

Moncrief's career in the oil industry was marked by significant achievements. After completing his military service, he joined Moncrief Oil as a 50-50 partner with his father. The father-son duo formed a successful partnership, discovering oil and gas in various regions, including West Texas, Louisiana, Oklahoma, and New Mexico.

One of Moncrief's major successes came in Scurry County after World War II. He drilled 28 successful wells that produced over 1.2 billion barrels of oil.

This achievement solidified his reputation as a skilled and influential oilman.

In 1972, Moncrief acquired one-third of the Madden Deep natural gas field in Wyoming. This acquisition proved highly profitable and further expanded his business empire.

William Moncrief, Jr.: Companies

Tex Moncrief was the driving force behind Moncrief Oil, a successful oil and gas exploration company. Through his leadership and expertise, Moncrief Oil became a prominent player in the industry.

In addition to Moncrief Oil, Moncrief also invested in other ventures, including the Barnett Shale natural gas field and a stake in McMoRan Exploration Co.'s Davy Jones oil well. His business acumen and strategic investments contributed to his financial success.

William Moncrief, Jr.: Major Achievements

Moncrief's major achievements in the oil industry are widely recognized. He is credited with discovering and developing significant oil and gas reserves in various regions of the United States. His successful drilling operations in Scurry County and the acquisition of the Madden Deep natural gas field stand out as notable accomplishments.

Moncrief's business acumen and entrepreneurial spirit led to the growth and success of Moncrief Oil. His contributions to the industry earned him respect and admiration from peers and industry experts.

William Moncrief, Jr.: Awards & Achievements

Tex Moncrief received numerous awards and recognitions for his contributions to the oil industry and his philanthropic efforts. Some of his notable awards include:

The Independent Petroleum Association of America's "Wildcatter of the Year" award in 1981.
The American Association of Petroleum Geologists' "Honorary Member" award in 1986.
The Fort Worth Chamber of Commerce's "Distinguished Citizen" award in 1990.

Moncrief's achievements were widely celebrated, and he left a lasting impact on the industry and his community.

William Moncrief, Jr.: Personal Life & Legacy

Tex Moncrief was known for his strong personality and civic pride. He was described by acquaintances as arrogant, controlling, opinionated, short-tempered, headstrong, and unyielding. Despite these traits, he was also known for his generosity and support of various causes.

Moncrief's personal life included three marriages and a total of nine children.

He faced personal tragedies with the loss of two of his children. Despite these challenges, he remained a prominent figure in Fort Worth society.

Moncrief's legacy is marked by his contributions to the oil industry, his philanthropic efforts, and his impact on the Fort Worth community. He left a lasting impression on those who knew him and will be remembered for his achievements and influence.

William Moncrief, Jr.: Trivia

Tex Moncrief was a founding member of Shady Oaks Country Club and a close friend of professional golfer Ben Hogan.
In 1996, Moncrief accused his former file clerk, Mary Ellen Lloyd, of embezzlement. The case went to trial, and Lloyd was found not guilty.
Moncrief celebrated his 100th birthday in March 2020 and passed away on December 29, 2021, at the age of 101.

Wealth History

Timeline

March 27, 1920

William Alvin Moncrief Jr. is born in Fort Worth, Texas.

1930

Witnesses the opening of a gusher oil well at Gregg County, inspiring his interest in becoming an oilman.

1937

Graduates cum laude from Culver Military Academy.

1942

Earns a degree in petroleum engineering from the University of Texas.

World War II

Serves in the United States Naval Reserve as a communication officer in the Pacific.

Post-War

Joins Moncrief Oil as a 50-50 partner with his father after military service.

1972

Acquires one-third of the Madden Deep natural gas field in Wyoming, which proves highly profitable.

1994

Faces an IRS raid on Moncrief Oil offices, accused of owing $100 million to $300 million in taxes.

1996

Pleads "no contest" to one count of criminal tax fraud, agreeing to pay $23 million to settle with the IRS.

2006

Estimated personal wealth reaches $1 billion.

March 2020

Celebrates his 100th birthday.

December 29, 2021

Passes away at the age of 101.

William Moncrief, Jr. : FAQs

What is William Moncrief, Jr.'s net worth?

As of 2014, William Moncrief, Jr.'s net worth was $1.00 billion.

What are William Moncrief, Jr.'s main sources of wealth?

William Moncrief, Jr.'s main source of income comes from Oil.

In which industry does William Moncrief, Jr. primarily operate?

William Moncrief, Jr. is primarily involved in the Energy industry.

What is William Moncrief, Jr. educational background?

William Moncrief, Jr. holds a Bachelor of Arts / Science from The University of Texas at Austin.

Is William Moncrief, Jr. dead?

Yes, William Moncrief, Jr. died on December 29, 2021 (aged 101).

How many children does William Moncrief, Jr. have?

William Moncrief, Jr. has 5 children.

Who was William Alvin Moncrief Jr. and why is he significant in the oil industry?

William Alvin Moncrief Jr., also known as Tex Moncrief, was a prominent figure in the oil industry, known for his successful ventures in discovering oil and gas across the United States. His career highlights include drilling 28 successful wells in Scurry County and acquiring a profitable stake in the Madden Deep natural gas field in Wyoming.

What were Tex Moncrief's contributions to World War II?

Tex Moncrief served in the United States Naval Reserve during World War II as a communication officer in the Pacific, contributing to the war effort through his military service.

How did Tex Moncrief impact philanthropy and education in Texas?

Tex Moncrief was known for his civic pride and charitable generosity, especially in Fort Worth. He was a long-time supporter of the University of Texas, donating over $27 million, and also supported Texas Christian University and various conservative causes.

What were some of the challenges Tex Moncrief faced in his career?

Tex Moncrief faced several challenges, including an IRS raid on Moncrief Oil offices in 1994 over accusations of owing significant taxes. He pleaded "no contest" to one count of criminal tax fraud in 1996, agreeing to pay $23 million to settle with the IRS.

Can you describe Tex Moncrief's personal life and legacy?

Tex Moncrief had a complex personal life with four surviving sons from two marriages and was married a third time with five surviving children by 2006. Despite being described as arrogant and controlling by acquaintances, he left a significant legacy through his philanthropic efforts and contributions to the oil industry. He celebrated his 100th birthday in March 2020 and passed away on December 29, 2021, at the age of 101.