[1][2] From 1997 to 2001, he served as chairman and chief executive officer of the R&B Falcon Corporation, the world's largest offshore drilling company, until it merged with Transocean.
[3] He graduated from Southern Methodist University in Dallas, Texas with a Bachelor of Business Administration in Economics in 1968, where he played on the football team.
[1][4] In 2012, he donated US$5 million to SMU for the construction of new student housing building, called Loyd Commons.
[2] He also serves on the board of trustees of the Houston Children's Charity and the Boys & Girls Clubs of America for American Samoa.
[2] His wife, Penny, chairs the Marshall Plan Charities for Afghanistan and serves on the advisory board of Boys and Girls Clubs.