https://www.ktre.com/2026/09/10/pecos-oil-company-owner-indicted-theft-money-laundering-charges/

A Reeves County grand jury has indicted the owner and operator of a Pecos oil company on theft and money laundering charges.

44-year-old Derek Zubeldia the owner of Zubeldia Energy Services LLC was indicted on charges of theft of petroleum product, money laundering and engaging in organized criminal activity, the Reeves County Sheriff’s Office said.

The indictments followed a multi-year criminal investigation into the theft and illegal resale of crude oil and condensate by Zubeldia Energy Services, according to the sheriff’s office.

Charges filed

The jury handed up the following charges:

Theft of petroleum product $300,000 or more

Money laundering $300,000 or more

Engaging in organized criminal activity

The sheriff’s office said the case is part of a multi-year joint investigation by the Reeves County Sheriff’s Office and the 143rd District Attorney’s Office into the theft of crude oil involving Zubeldia and multiple co-conspirators.

The investigation centered on the theft of crude oil and other oilfield-related products that were consistent with other similar investigations previously investigated in Reeves County, according to the Sheriff’s Office.

The Sheriff’s Office said crimes of this type have been common in Reeves County because of the region’s oilfield industry.

Arrest and release

Zubeldia was arrested and booked into the Reeves County Jail on Sept. 4, the sheriff’s office said.

He was released the same day after posting a $300,000 bond.

The Sheriff’s Office said the investigation is ongoing and more indictments are possible in the near future.

According to Zubeldia’s defense attorney’s, Zubeldia was falsely accused of the three felonies.