Ray Lee Hunt

Ray Lee Hunt (born 1943) is an American heir and businessman.

Biography

Early life

Hunt is the son of the late H. L. Hunt (1889–1974), founder of Hunt Oil Co.. He is a graduate of Southern Methodist University in Dallas, Texas, where he was a member of the Phi Delta Theta fraternity and men's honorary Cycen Fjodr.

Career

After his father's death in 1974, he inherited Hunt Oil Co. along with his three sisters. In 1982, Forbes magazine estimated Ray Hunt's family's total net worth to be $200 million. Ray made a huge oil find in Yemen in 1984. It took two years for Hunt, partnering with other companies, to lay a pipeline and build a refinery for the oil. In 2006 Forbes estimated that Ray’s family's net worth increased from $200 million to $4.6 billion.

In September 2007, Hunt struck an oil deal with the Kurdistan Regional Government in the disputed territories of Ninewa near the Dohuk Governorate with an estimated value of $8 to $14.5 billion. The federal Iraqi Oil minister has denounced this deal as illegal, because under current Iraqi law only the central government is authorized to enter into contracts, though the Kurdistan Region believes it has a constitutional right to do so. The Kurds refuse to share details about the deal but insist that they will share profits. Likewise, Hunt Oil has refused to answer questions about the deal from US government officials who called for details when the deal became public. A U.S. Congressional committee concluded that George W. Bush administration officials knew that Hunt oil was planning to sign the oil deal with the regional Kurdistan Regional Government that ran counter to American policy and undercut Iraq’s central government. The issue is still open and the State Department's Office of Inspector General is reviewing the issue.

Lee Hunt

Lee Hunt may refer to:

See also