George P Mitchell Net Worth is$2 Billion
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Nickname: George Mitchell
Profession: Entrepreneur, Businessperson
Nationality: United States of America
Date of Birth: 1919-05-21
Place of Birth: Galveston
Date of Death: 2013-07-26
Place of Death: Galveston
Cause of Death: Natural causes
George Mitchell Net Worth: George Mitchell was an American oil and gas magnate and real estate developer who had a net worth of $2 billion. Born George Phydias Mitchell on May 21, 1991, in Galveston, Texas, he is known as the father of natural gas shale grilling. Of Greek origin, Mitchell launched the Mitchell Energy & Development Corp. soon after his graduation from Texas A&M University where he gained a BA in Petroleum Engineering. During the 80s and 90s, the energy company carried out many experiments in different techniques of hydraulic fracturing to open the Barnett Shale field. Eventually, it succeeded in finding the right one, and soon, the company introduced a brand new horizontal drilling technology combined with hydraulic fracturing in order to economically extract natural oils from rock formations. Immediately, the technology became a top hit in the US because it made the country less dependent on foreign energy sources. In 2002, Mitchell sold his energy company to Devon Energy for $3.5 billion, but he remained the major shareholder. Then, he turned to real estate becoming a developer of The Woodlands, a huge community based in the north of Houston that has accommodated more than 97,000 people. Moreover, he and his wife Cynthia had been a part of the revitalization of their hometown of Galveston, and Mitchell had also given about $24 million in renovations of his hotels that were damaged of Hurricane Ike in 2008. Being a great philanthropist, together with his wife, they had founded the Cynthia and George Mitchell Foundation that had donated over $400 million in grants to different programs, institutions and causes. George P. Mitchell died at the age of 94 on July 26, 2013 at his home in Galveston, Texas.
George Phydias Mitchell (May 21, 1919 ??? July 26, 2013) was an American businessman, real estate developer and philanthropist from Texas credited with pioneering the economic extraction of shale gas.
According to The Economist, "few businesspeople have done as much to change the world as George Mitchell."


George Mitchell was born to Greek immigrant parents in the port city of Galveston, Texas in 1919. Mitchell???s roots reached back to Greece, where his father Savvas Paraskevopoulos from the village of Nestani in Arcadia, tended goats before immigrating to the United States in 1901, arriving at Ellis Island at the age of 20. He worked for railroads, and gradually moved west. When a paymaster got tired of writing his long name and threatened to fire him, Mr. Paraskevopoulos took the paymaster???s name, Mike Mitchell. Mike Mitchell settled in Galveston, where he ran a succession of shoe-shining and pressing shops. When he saw the picture of a beautiful woman in a local Greek newspaper, he headed for Florida, where she had settled, according to family lore. He persuaded her to abandon her fianc?(C) and marry him. They lived above the shoeshine shop.
George Mitchell earned a degree from Texas A&M University, graduating first in his class in petroleum engineering.
He started an independent oil and gas company, Mitchell Energy & Development Corp. and built it into a Fortune 500 company. He participated in the development of about 10,000 wells, including more than 1000 wildcat wells.
In the 1980s and 1990s, the company experimented with application of different techniques of hydraulic fracturing of the Barnett Shale of Texas, eventually finding the right technique to economically extract the natural gas in the formation. The new approach has been widely adopted by the gas industry and spawned a new gas boom in North America. The Potential Gas Committee estimates that U.S. recoverable reserves will last 118 years at current production levels. but pro

George P Mitchell Latest News

George Mitchell, a Pioneer in Hydraulic Fracturing, Dies at 94

George P. Mitchell, the son of a Greek goatherd who capped a career as one of the most prominent independent oilmen in the United States by unlocking immense natural gas and petroleum resources trapped in shale rock formations, died on Friday in Galveston ...
Posted: July 25, 2013, 5:00 pm

Texas billionaire George P. Mitchell, the father of fracking, dies at 94

Get Unlimited Digital Access Your first month is less than a dollar. $0.99 for first 4 weeks Subscribe Now HOUSTON — Billionaire Texas oilman, developer and philanthropist George P. Mitchell, considered the father of fracking, died Friday at his home in ...
Posted: July 26, 2013, 2:37 pm

3 new reasons to visit this booming Texas college town

W. Bush, as well as George P. Mitchell, the distinguished petroleum engineer and graduate of Texas A&M University. The George’s whiskey bar, 1791, pays homage to the year of the whiskey tax rebellion under the leadership of George Washington. The hotel ...
Posted: December 1, 2016, 1:25 am
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