Mayell sold out all his personal oil and gas holdings to Alta Mesa in 2011 for over $13 million....not bad considering they bought all of TMR for a net of $26.8 million. Heard he moved out here from Houston and built a house but so far haven't seen him in the LA Times society section. Reeves still operates his own oil empire out of the same original office space that the old Texas Meridian occupied in the 1980's that now where Alta Mesa is headquartered.
2.2 Purchase Price . Thirteen Million Four Hundred and Fifty-Three Thousand and No/100 Dollars ($13,453,000.00) (the “Mayell Purchase Price”) shall be paid by Buyer to Seller in immediately available funds on or before the Closing Date. The Mayell Purchase Price is to be adjusted on the Closing Date as provided in Article 2.3 below (the Mayell Purchase Price, as so adjusted, is referred to as the “Mayell Net Closing Amount”)
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http://agreements.realdealdocs.com/Purchase-and-Sale-Agreement/PURCHASE-AND-SALE-AGREEMENT-2933879/#ixzz3Uqxk8joe