DALLAS, Aug. 25, 2021 /PRNewswire/ — Andrew Gautreaux, Phillip Peterson, and Brinn Bettis have announced, (through a joint press release with Legacy Exploration and T-REX Oilfield Services), the following:
Mr. Gautreaux, Mr. Peterson, and Ms. Bettis are pleased to announce that despite the phenomenal value they all bring to both companies, they entered into a settlement which includes an undisclosed amount of cash in lieu of compensation in exchange for a buyback of Peterson’s stock in both companies, and Bettis’ stock in T-REX Oilfield Services. Legacy Exploration, LLC and T-REX Oilfield Services, LLC will continue to operate under the direction of Andrew Gautreaux as its CEO and its board of directors for both companies.
Gautreaux was quoted saying, “Peterson was a three-time Texas Super Lawyer and the General Counsel of a publicly traded company listed on the NASDAQ for more than seven years that at one point was worth more than a billion dollars. I just think that at the end of the day, and I am confident that he would agree with me- we both have so much emotionally invested into Legacy Exploration and T-REX, that trying to accomplish our goals for these companies would have been very difficult to do, given the fact that the vision we each have for both companies is so different.
Legacy Exploration is an upstream oil and gas company established in March of 2014. Currently they are developing an oil field in the Fort Worth Basin and currently they have assets stretching just south of the Red River from Texarkana, Texas to oil fields approximately 50 miles southeast of Wichita Falls, Texas. They also have non-operated assets along the Texas/Mexico border.
Media Contact: Legacy Exploration – 4692831104