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The personal representatives, trustees, and Jean True
individually, resided in Casper, Wyoming, at the times they filed
their petitions with this Court.
B. Formation and Growth of True Companies
1. Reserve Drilling
Dave True graduated from college and married Jean True in
1938. During the next 10 years, he worked in the oil and gas
business for the Texas Co. (later known as Texaco) in various
positions, eventually becoming Wyoming State superintendent of
drilling and production, based in Cody, Wyoming. During this
time, Tamma (1940), Hank (1942), and Diemer (1946) were born.
In 1948, Dave True left the Texas Co., moved his family to
Casper, Wyoming, and became manager of Reserve Drilling Co.
(Reserve Drilling), a one-rig contract drilling business. Dave
and Jean True’s youngest child, David L. True, was born in 1950.
By 1951, Dave True owned 15 percent of Reserve Drilling, Doug
Brown, an attorney, owned 10 percent, and unrelated companies
owned the remaining interests. Reserve Drilling generated
substantial profits and acquired additional rigs under Dave
True’s management. Eventually, the unrelated companies sold
their interests to Dave True and Doug Brown, who financed their
purchases with borrowed funds.
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