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The article focuses on the trial of Texan oil executive Oscar S. Wyatt Jr., who pled guilty to doing business with the Iraqis illegally. In 2005, he was indicted on five criminal counts, including wire fraud, in connection with what came to be known as the Oil-for-Food scandal. Wyatt admitted that he agreed with others to cause a surcharge payment to be deposited in a bank account controlled by Iraqi SOMO officials at the Jordanian National Bank.

The article reports on the shortage in the supply of natural gas in the state of Texas due to the move by intrastate gas pipeline operator Coastal States Gas Producing Co. to abruptly reduce deliveries to consumers of gas as boiler fuel like electric utilities by 50% in late May 1973. The worst hit public utilities by the gas cutback are those in Austin and San Antonio, as well as the electric utility cooperative, the Lower Colorado River Authority. Coastal States Gas Producing Co. is founded by Oscar S. Wyatt, Jr.

The article focuses on the settlement of the dispute of Coastal States Gas Corp. and its intrastate subsidiary, Lo-Vaca Gathering Co., with its customers in Texas. It says that 12 customers of Lo-Vaca filed breach of contract lawsuits against the company and demanded payment of more than 1.4 billion dollars for damages. It adds that United Texas Transmission Co. approved the proposed settlement with Lo-Vaca. Moreover, the settlement called for the separation of Lo-Vaca from Coastal States.

The article discusses the Coastal States Gas company and its founder Oscar Wyatt. It examines the economic aspects of the purchase of Texas natural gas by the company when supplies were high, which it can now sell at a profit. The role of executive management in making the company successful is highlighted.

The article offers information regarding how C. David Culver manages Pioneer Corp. as president of the company. Since taking over as president in 1982, Culver has overseen as business shakeup which helps in the development of the Amarillo, Texas-based natural-gas producer and transporter. Culver has tried to turn the Pioneer into an aggressive exploration and production company.

The article reports on the apparently doomed takeover attempt launched by Houston, Texas-based Coastal Corp. for control of Houston Natural Gas Corp. (HNG). HNG is one of the top intra-state natural gas pipelines with sales half of Coastal's $5.8 billion but with a threefold higher market value. However, HNG stock fell far below Coastal's offer of $68 a share, while Coastal shares rose by 11 percent.

The article explores the Texan periodical "Texas Monthly" (TM). It notes that the magazine is offensively bold, telling Texas residents what sets them apart from other Americans and what does not. It mentions that it was launched in 1973 by reporter-turned-lawyer Michael R. Levy, and had covered almost everything in Texas including football, the Miss Texas Pageant, oil barons, Texas Rangers baseball team and Dallas banks. It states that its circulation has increased from an initial 20,000 in 1973 to nearly 200,000 in 1976, and is available on newsstands throughout the U.S.