Six Plea Guilty to Stealing Crude Oil in Multi-Million Dollar Scheme

Six individuals have pleaded guilty to their roles in a conspiracy to steal tens of thousands of barrels of crude oil from Permian Basin producers.

The scheme, which involved 14 defendants, saw the guilty parties stealing crude oil and selling it at discounted rates to Louis George Edgett, 69, and Brenden Floyd Strickland, 26.

Court documents revealed that Edgett and Strickland purchased the stolen oil for between $10 and $15 per barrel, significantly lower than its market value.

The defendants admitted to stealing crude oil valued at up to $1.5 million, with one conspirator selling 10,975 barrels of oil for an estimated market value of $888,975 but only receiving $164,625 from Edgett and Strickland.