Our Team

Loyd Walter Powell, Jr.
In Memoriam

Loyd W. Powell was a drilling machine born to "make hole" and deliver American oil. While other boys were involved in school activities, young Loyd was constantly by his father's side visiting drilling rigs, catching samples from the shale shaker, and learning the doghouse lingo. After he purchased his first string of drill pipe as a college student, there was no looking back.

At the age of 29, Loyd became CEO of Cholla’s predecessor company L&M from L.W. Powell, Sr. after his passing. He held this title until his passing on September 11th 2021. At the time, the company had $80k in net assets, consisting of $1,811 in cash, $153K in account payables, a couple of stripper wells, and some service equipment. Over the next 50 years, Loyd grew Cholla Petroleum, Inc. into one of Texas' largest independent oil and gas exploration companies, personally overseeing the completion of more than 1,150 oil and gas wells.

Until the very end, even from the hospital bed, Loyd continued to wildcat for oil and gas, reviewing reports, asking for updates on wells and even monitoring progress on his most recent venture into bitcoin mining. Loyd has left operations to his sons who will continue to lead Cholla into the next phase of exploration. By all measurements, Loyd left Cholla in a far better position than it was in 1975.

Loyd was a great leader in the community and mentor to so many in the oil and gas business. There was no one like Loyd Powell. He could decipher a log in no time, sniff out BS, prioritize effectiveness over movement, and would leave no detail unaccounted for. He was in so many ways larger than life—the quintessential Texas oilman. Loyd loved this business and leaves giant shoes to fill.

Loyd took pride in being the youngest member admitted to the Dallas Petroleum Club at the age of twenty-one. He was a proud supporter of the Bullock Texas State History Museum and countless charitable organizations. Additionally, he was an active member of the Texas Alliance of Energy Producers, Texas & Southwestern Cattle Raisers, Dallas Wildcat Committee, along with the Dallas Producers Club. He was a longtime member of TIPRO and was honored by them in 2013 for his work in the oil and gas industry.

Loyd's love of the oil and gas business was only overshadowed by his love for his "cute" wife, Michal Powell, and their large, loving family. He considered Michal his most significant discovery; his life changed forever the day he met her. They were each other’s best friends and his beloved wife truly brought him more joy and pride than any well ever did. Together, they had four children and Loyd affectionately took on his father's nickname, to be known as "Slim," to their many grandchildren.

It was of the utmost importance to Loyd that he be an honest businessman with the highest integrity, who preferred to do business on a handshake and take a man at his word. Loyd was an employer who valued his employees. He was a proud Texan and an American patriot. Most importantly, he was a man of quiet yet steadfast faith.

Loyd found great pleasure in spending weekends out at the ranch with his family making sure the grass was well mowed, the cedar trees were chopped, and the cows were fat and happy. He always had his dog riding shotgun and enjoyed a good hunt with his boys. Loyd was an avid collector of Southwestern art and also had an eye for picking out a new dress for his wife. He was a voracious reader and maintained a vast collection of books, particularly highlighting his depth of knowledge of Texas and oil history.

Loyd had a lot of character and was quite a character himself. He said what he thought and never left anyone questioning where he stood. Loyd will be dearly missed but confidently left operations of Cholla to a team of capable leaders.