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Oil Tycoon Pickens' Holdings Shrink in Prolonged Downturn

2015-11-17 18:48:13| Oil & Gas - Topix.net

The value of energy stocks held by his Dallas-based TBP Investments Management LLC fell by more than half in the quarter to $35.6 million, according to data compiled by Bloomberg. TBP exited stakes in 13 companies, including smaller oilfield contractors Pioneer Energy Services Corp., C&J Energy Services Ltd. and Patterson-UTI Energy Inc. Many of the positions Pickens sold were stakes he had bought in the second quarter.

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