Crude Oil Thieves Plead Guilty to Stealing Tens of Thousands of Barrels
Six individuals have pleaded guilty to their roles in a conspiracy to steal crude oil from Permian Basin producers and resell it at discounted rates, according to federal prosecutors. The scheme involved stealing tens of thousands of barrels of crude oil from eastern New Mexico and selling it to buyers who paid significantly below the market price. The defendants admitted to stealing oil valued at up to $1.5 million.
Prosecutors said that the buyers, Louis George Edgett and Brenden Floyd Strickland, purchased the stolen oil for between $10 and $15 per barrel, while the market value was typically much higher. Court documents provided several examples of the profits made by the conspirators, with one defendant selling 10,975 barrels of oil valued at $888,975 but sold to Edgett and Strickland for $164,625.
The defendants face up to five years in federal prison, except Diana Marquez Rojo, who faces up to three years. They also face fines of up to $250,000, restitution for victims, and forfeiture. Sentencing dates have not yet been scheduled.