Six Guilty Pleas In Permian Basin Crude Oil Theft Conspiracy

Six individuals have pleaded guilty to participating in a conspiracy to steal tens of thousands of barrels of crude oil from producers in the Permian Basin. The scheme involved stealing the oil and selling it at discounted rates to two buyers, Louis George Edgett and Brenden Floyd Strickland.

The defendants admitted to stealing crude oil valued at up to $1.5 million. One conspirator sold 10,975 barrels of stolen crude oil between June 2022 and July 2024 for an estimated market value of $888,975, but the buyers paid only $164,625. Another conspirator sold 9,090 barrels during the first half of 2024 for over $724,000, but the buyers paid about $136,350.

The defendants face up to five years in federal prison and fines of up to $250,000. They also must pay restitution to victims and forfeit any profits made from the scheme.