Taylor Energy

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Taylor Energy
TypePrivate
IndustryOil drilling
Founded1979
FounderPatrick F. Taylor
Defunct2008
FateDefunct. Shares sold to Korea National Oil Corporation and Samsung C&T Corporation
Headquarters
New 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.

Patrick F. Taylor[]

The company's founder, Patrick F. Taylor, grew up in Beaumont, Texas, and attended Louisiana State University. 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.[citation needed]

Circa February 1, 2008, Taylor Energy Company, one of the largest privately owned oil and gas companies operating in the Gulf of Mexico, agreed to sell all its energy assets to a joint venture between Korea National Oil Corporation and Samsung C&T Corporation.[3]

2004 Taylor oil spill[]

Main article: Taylor oil spill

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 has only one full-time employee.[4] By October 2018, the continuing spill was approaching the level of the 2010 Deepwater Horizon oil spill,[5] the largest marine oil spill in the history of the petroleum industry.

In 2019, Taylor Energy went to court to stop the government's efforts to fix the leak, filing four lawsuits against the Interior Department, U.S. Coast Guard and Couvillion Group.[6] The Couvillion Group, a small marine construction company, was hired[when?] by the government to recover and contain the spill; in April 2019 the company built an underwater containment system.[7] In its first year of operation, the system retrieved around 400,000 gallons of oil; the Coast Guard considers a release of 100,000 gallons of oil in coastal waters a “spill of national significance.”[8] The lawsuit against Couvillion Group was dismissed by U.S. District Court Judge Greg Guidry on Aug. 21 2020.[9]

References[]

  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. ^ Carr, Martha (February 1, 2008). "Taylor Energy being sold to Korea National Oil, Samsung". The Times-Picayune. Retrieved March 3, 2015.
  4. ^ 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.
  5. ^ 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.
  6. ^ Darryl Fears (March 2, 2019). "The U.S. is making an effort to end the longest oil spill in history. This company is fighting against it in court". Chicago Tribune.
  7. ^ "A 'volcano' of oil is flowing in the gulf, and this ex-fish boat captain is trying to contain it". Washington Post. Retrieved June 1, 2021.
  8. ^ writer, TRISTAN BAURICK | Staff. "How a Louisiana engineer's invention protects the Gulf from a 'volcano' spewing oil". NOLA.com. Retrieved June 1, 2021.
  9. ^ TRISTAN BAURICK (September 1, 2020). "Judge dismisses Taylor Energy lawsuit against company cleaning up its oil leak". NOLA.com.

External links[]

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