The Life and Legacy of Mack C. Chase: From Oil-Field Hands to Lasting Impact

A Humble Start that Foreshadowed an Oil Empire

Mack C. Chase was born on April 29, 1931, the fourth of eight children to Edgar and Marie Chase in Texas.  As a boy, he moved with his family to Artesia, New Mexico, where he would grow up, attend school, and eventually launch the ventures that would make him one of the most influential oil-industry figures in the Permian Basin. 

Chase’s early exposure to the oilfields began around age 14, when he started working on a pulling unit — the kind of demanding, hands-on oil-well job that built his work ethic and intimate knowledge of the industry. After high school (graduating in 1950), he served as an A&E mechanic in the U.S. Army during the Korean War (1951–1953). 

These formative years laid the groundwork for a self-made journey: Chase knew the oilfield from the ground up — literally — and understood both the labor and the promise embedded deep in the earth.

Building a Business Mosaic: Risk, Reinvention, Diversification

Returning home in 1953, Chase married Marilyn Yvonne Stack later that year.  What followed was decades of bold entrepreneurial moves that transformed him from an oil-field hand into a diversified business magnate.

• In 1954, he began Chase Well Service, offering well-servicing services.

• By 1968, he struck out on his own, purchasing a pulling unit from his brother and founding what would soon become a core of his business interests.

• In 1979 he partnered with John R. Gray to launch Marbob Energy. That venture — named after their wives — offered pumping services to well owners in southeast New Mexico.

• After parting ways with Gray, Chase founded Mack Energy Corporation — a company that would expand beyond drilling and pumping into other sectors: farming, aviation, supply and services, insurance, and more. 

• Among his many ventures were Chase Farms — which grew to become one of the largest pecan producers in the U.S. — and Deerhorn Aviation, a charter and aircraft dealer business.

Chase’s willingness to diversify — combining the grit of oil with the steadiness of agriculture and services — reflects a rare entrepreneurial agility. It allowed him to weather shifts in the energy market and build a legacy much larger than a single boom-and-bust cycle.

Wealth, Standing, and Shifting Valuations

Over decades, Chase’s success in oil, agriculture, aviation, and related services translated into substantial wealth. According to Forbes, as of 2019, he was listed among the richest individuals in his state, with a net worth estimated at US$700 million.

However, not all wealth trackers agree — and some estimates are significantly higher. For instance, a more recent valuation from a financial-tracking platform suggests his net worth might be at least US$2.0 billion, based on his historical holdings in Concho Resources, Inc. stock.

These discrepancies highlight a broader challenge when valuing the fortunes of private-company magnates whose wealth is often tied up in assets like land, private holdings, and legacy investments — not solely publicly traded stock. That makes Chase’s true net worth difficult to pin down definitively, but underscores that his impact — financial and social — was substantial.

Family, Giving Back, and a Life Rooted in Community

Marriage to Marilyn Yvonne Stack lasted more than six decades. Together they raised three children: two sons and a daughter — Robert Chase, Richard Chase, and Gerene Chase. Their commitment to family and community left a lasting mark.

In 2006, Mack and Marilyn established the Chase Foundation, intended to provide scholarships and educational opportunities to students in Artesia, New Mexico. Over the decades, the foundation helped thousands — allowing many from small-town backgrounds to attend college. 

Chase wasn’t content simply to build wealth; he saw responsibility in giving back. His philanthropy extended beyond scholarships — contributing to community infrastructure: sports facilities, libraries, aquatics centers, and youth programs. 

The enduring respect of his community became clear when local tributes poured in after his passing — a sign that for many in Artesia and beyond, Chase was more than an oilman: he was a pillar of generosity, opportunity, and local pride.

The Full Circle: Remembering His Birthday, Life, and Legacy

Mack C. Chase’s birthdate — April 29, 1931 — and birthday became more than a personal detail; they mark the beginning of a life that touched thousands, built industries, and reshaped a small community.

He passed away on October 2, 2023, in Artesia, New Mexico — leaving behind children, grandchildren, and a legacy that extends beyond balance sheets.

What remains most compelling about Chase’s story, though, isn’t just numbers. It’s the arc — from a teenager working on oil rigs, to a high-school graduate who served in war, to a self-made tycoon who never lost his roots or his resolve. His life reflects American entrepreneurship in its rawest form: risk, resilience, and reinvention — grounded in community.