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Forbes Daily Briefing

Legendary Texas Wildcatter’s Granddaughter Makes Energy’s Riskiest Bet

Forbes Daily Briefing

Forbes

Business, Tech News, News

4.418 Ratings

🗓️ 21 June 2026

⏱️ 6 minutes

🧾️ Download transcript

Summary

It’s almost 8 a.m. when Gloria Moncrief arrives at her oil firm’s hangar at Meacham Airport in Fort Worth, Texas. She climbs into an eight-seater Cessna Citation, explaining that her Boeing 737, Lucky Liz, is in the shop. The flight to a small airfield in southern Louisiana takes about an hour. Then it’s a 45-minute drive along the levee into the Atchafalaya river basin, the largest swamp in North America, followed by 15 minutes on a flat-bottomed boat past alligators, nesting bald eagles and fishermen muscling their bass boats into the bayou. Rounding a bend in the waterway, the boat arrives at a giant drilling rig with a 150-foot-tall derrick and roaring engines. Tall and thin, decked out in jeans and knee-high ostrich-skin boots, the 44-year-old Moncrief steps onto the rig, where a handful of mud-covered roughnecks maneuver 40-foot lengths of steel pipe with massive hydraulic tongs.  Moncrief is the head of Montex Drilling Company, the family business that owns Moncrief Oil and has been spending $300,000 a day to rent the rig and staff it around the clock with 60 folks working 12-hour shifts, 14 days on, 14 days off, all to drill the second-deepest natural gas well ever in the U.S. The Highlander 2 goes down 30,862 feet (almost six miles), where it intersects an 800-foot-thick (gross) zone of sand saturated with trillions of cubic feet of natural gas. The well was recently completed after 389 days of drilling. By Christopher Helman, Senior Editor Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Okay, Micah, what do you want now?

0:03.0

Roy, it's coming home, baby.

0:06.0

Can't you feel it?

0:07.0

The excitement, the group chats, the atmosphere.

0:11.0

Well...

0:12.0

Come on!

0:14.0

I've got a good feeling about this one, Roy.

0:17.0

The world's gone football!

0:24.6

Okay, Dan, a bit.

0:28.1

Getting on the action this summer with Skybet.

0:29.9

18 plus gambleaware.org.

0:38.3

Today on Forbes, legendary Texas Wildcatter's granddaughter makes energy's riskiest bet. It's almost 8 a.m. when Gloria Moncrief arrives at her oil firm's hangar at Meacham Airport in Fort Worth, Texas.

0:46.3

She climbs into an eight-seater Cessna citation, explaining that her Boeing 737, Lucky Liz, is in the shop.

0:59.0

The flight to a small airfield in southern Louisiana takes about an hour.

1:04.7

Then it's a 45-minute drive along the levee into the Atchafalaya River Basin,

1:10.0

the largest swamp in North America, followed by 15 minutes on a flat-bottomed boat,

1:13.6

past alligators, nesting bald eagles, and fishermen muscling their bass boats into the bayou.

1:16.6

Rounding a bend in the waterway, the boat arrives at a giant drilling rig with a 150-foot-tall

1:22.6

Derek and roaring engines.

1:24.6

Tall and thin, decked out in jeans and knee-high ostrich skin boots,

1:29.2

the 44-year-old Moncrief steps onto the rig, where a handful of mud-covered roughnecks

1:34.1

maneuver 40-foot lengths of steel pipe with massive hydraulic tongs.

...

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