American businessman, and real estate developer George Phydias Mitchell has died. He was 94. Mitchell was also a philanthropist from Texas and also known for pioneering the economic extraction of shale gas.

He started Mitchell Energy & Development Corp., an independent oil and gas company, and built it into a Fortune 500 company. He died at his residence in the Tremont Hotel in Galveston.

Funeral arrangements are pending at Carnes Brothers Funeral Home in Galveston.