Evans was chosen to be the Non-Executive Chairman of TXU Energy, following the completion of its acquisition by Kohlberg Kravis Roberts and TPG Capital.

In 1975, Evans moved to Midland, Texas from Houston and began working on an oil rig for Tom Brown Inc., a large independent energy company now based in Denver.

[5] On January 4, 2001, Evans became the first of President-elect Bush's Cabinet picks to face a confirmation hearing, appearing before the United States Senate Committee on Commerce, Science, and Transportation.

[8] On October 29, 2001, Enron Chairman Kenneth Lay telephoned Evans, asking for help in persuading the credit rating agencies to refrain from a downgrade.

[9] Following Bush's re-election, Evans announced his intention to resign as Commerce Secretary but pledged to stay in office until his successor was confirmed by the Senate.

[10] Carlos Gutierrez was sworn in as Commerce Secretary by White House Chief of Staff Andrew Card on February 7, 2005.

[11] Multiple news publications reported on May 26, 2006, that Evans had emerged as the front-runner to take become United States Secretary of the Treasury pending John W. Snow's then rumored resignation.