William Moncrief

William Alvin Moncrief Jr. (March 27, 1920 – December 29, 2021), also known as Tex Moncrief, was an American businessman in the oil and gas sector, often described as a wildcatter. He served as president of Moncrief Oil, and was a billionaire member of the 2006 Forbes 400, with an estimated net worth of US$1 billion. He was the second child of William Alvin "Monty" Moncrief (1895–1986) and wife Elizabeth Bright, 1897–1992). In 1931, at the age of ten, Moncrief witnessed the opening of a gusher oil well at Gregg County, a joint venture between his father and John E. Farrell. He later described the experience:

It was just the greatest thing I ever saw. People were jumping around and hollering and hugging each other just like they'd won a football game. I decided on the spot that I wanted to become an oilman.

Moncrief graduated cum laude from Culver Military Academy in Culver, Indiana, in 1937, before continuing his education at The University of Texas at Austin, where he graduated with a degree in petroleum engineering in 1942. Moncrief worked for Consolidated Vultee, and then as an engineer for Stanolind Oil. When the United States entered World War II, Moncrief was commissioned in the United States Naval Reserve and served as a communication officer in the Pacific.

Career Moncrief returned from military service and joined Moncrief Oil, becoming a 50–50 partner with his father. Their first major post-War success occurred in Scurry County, where the Moncriefs drilled 28 successful wells, which together produced more than 1.2 billion barrels of oil. Moncrief was accused of owing the United States government between $100 million and $300 million. Following a two-year investigation, Moncrief pleaded "no contest" to one count of criminal tax fraud; this charge alleged that he had "improperly deducted" $900,000 in business expenses from his company Montex Drilling on his 1990 personal federal tax return. In 1998, Moncrief gave testimony before the Senate Finance Committee regarding the IRS raid on his offices:

In my imagination, federal raids were always confined to Mafia bosses and drug lords. If you had told me that 64 IRS agents would storm my office, with sidearms holstered and boot heels trampling my civil rights and my business reputation, I wouldn't have believed you. Throughout his career, Moncrief strictly adhered to rules originally held by his father, to operate only through sole proprietorships and never go public. where he graduated and later served on the Board of Regents. In 1997, the W.A. "Tex" Moncrief Jr.-V.F. "Doc" Neuhaus Athletic Center was named in his honour. Moncrief was also noted for his patronage of Texas Christian University. and daughter Monty Francine died from leukemia at age seven or eight. By 2014, Moncrief was widowed.

In a 1998 article for FW Weekly, journalist P. A. Humphrey reported that family members, former employees and acquaintances had variously described Moncrief as "arrogant, controlling, opinionated, short-tempered, headstrong, [and] unyielding."

In 1996, Moncrief accused Mary Ellen Lloyd, a former file clerk at Moncrief Oil, of embezzlement and testified against her in her criminal trial.