Chinese Billionaire’s Texas Company Owes Millions On Unpaid Bills

대한민국 뉴스 뉴스

Chinese Billionaire’s Texas Company Owes Millions On Unpaid Bills
대한민국 최근 뉴스,대한민국 헤드 라인

I write about billionaires and their companies, financial markets, white-collar crime and cryptocurrencies. I won a SABEW award in 2021 for my coverage of a Chinese billionaire's investments in Texas and the borrowing habits of the ultra-wealthy.

  • 📰 Forbes
  • ⏱ Reading Time:
  • 56 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 26%
  • Publisher: 53%

Sun Guangxin’s scuttled Texas wind farm helped spark a political movement to restrict foreign land ownership. Now 13 oil and gas outfits claim he owes them millions or was late to pay for work completed months ago.a two-decade veteran of Texas’ oil and gas industry, left his job as operations manager at energy firm GHA Barnett, which operates about 40 natural gas wells in Texas’ Barnett Shale, to pursue a new opportunity.

“It's excuse after excuse. Sometimes you don't even get a response,” says Monty Roberts, one of those owners. His company Stealth Thru Tubing, which provides tubes for fracked wells, billed GHA for $300,000 of work completed back in March, but is still owed $146,000. “We've just been getting the runaround.”

Some progress is being made. Oil and gas equipment firm Grady Rentals, which filed a lien in August to claim $504,000 in unpaid invoices, was made whole last week, says its CEO Brad Grady. And another GHA vendor, Extreme Pressure Control, received its remaining $250,000 balance last week, too, says its co owner Mike Scott.

A floor crew pulls steel pipe out of a natural gas well on in the Barnett Shale of Fort Worth, Texas.Sun quietly purchased his natural gas lease rights in 2016 from two U.S. firms, Beacon E&P Company and Newark Energy, spending over $130 million on the asset, according to one person familiar with the deal. . As critics decried the proximity of Sun’s proposed wind farm to Laughlin Air Force Base, no one seemed to care about his gas wells .

이 소식을 빠르게 읽을 수 있도록 요약했습니다. 뉴스에 관심이 있으시면 여기에서 전문을 읽으실 수 있습니다. 더 많은 것을 읽으십시오:

Forbes /  🏆 394. in KR
 

대한민국 최근 뉴스, 대한민국 헤드 라인

Similar News:다른 뉴스 소스에서 수집한 이와 유사한 뉴스 기사를 읽을 수도 있습니다.

Jacksonville company — Dee’s Nuts — sues company tied to YouTube star MrBeast, claiming trademark infringementJacksonville company — Dee’s Nuts — sues company tied to YouTube star MrBeast, claiming trademark infringementMrBeast, 25, made his fortune using a long list of revenue streams that include posting highly produced and sometimes controversial videos to his 189 million YouTube followers, selling merch and through his Feastables snack bar line. Feastables is now being sued by a Jacksonville company.
더 많은 것을 읽으십시오 »



Render Time: 2025-01-13 23:52:29