(Bloomberg) -- A Texas oilman who has spent millions supporting conservative causes and a Connecticut private equity firm founded by Goldman Sachs Group Inc. alumni are set to make billions on Occidental Petroleum Corp.’s acquisition of CrownRock LP.  

CrownRock chief executive officer Tim Dunn will collect nearly $2.2 billion of the $10.8 billion Occidental is paying to acquire his Midland, Texas-based shale driller, according to the Bloomberg Billionaires Index. 

Meanwhile, a fund managed by Westport, Connecticut-headquartered Lime Rock Partners, which specializes in energy investments, will collect roughly $6.5 billion. 

Liquidity from the sale could turbocharge Dunn’s political spending, which had already made him one of the most influential donors in Texas. Since 2011, his donations to candidates and committees at the federal and state levels has totaled $31.9 million. 

Dunn didn’t immediately respond to a voicemail and email seeking comment. 

Read more: Oil Titan Reshaping Texas GOP Targets a $10 Billion Windfall

A devout Christian who gives sermons at an evangelical church in Midland and who founded a private Christian school, Dunn supports candidates in favor of book bans, private-school voucher systems and criminalizing abortion. 

He may also be planning to ramp up his philanthropic spending. Last year, a Midland-based nonprofit called the Dunn Family Foundation was approved by the Internal Revenue Service.

Dunn founded CrownQuest Operating in 1996. In 2007, it formed the joint venture CrownRock, with Lime Rock investing an initial $75 million to acquire a majority stake and CrownQuest contributing assets. 

Dunn owns roughly 20% of CrownRock, while Lime Rock owns about 60%, Forbes reported last year. 

Lime Rock was founded by John Reynolds and Jonathan Farber, who previously worked together at Goldman Sachs. Lime Rock managed $11.2 billion at the start of this year.

A representative for Lime Rock declined to comment. 

The firm’s 16-year investment in CrownRock is unusually long for private equity. In 2018, Lime Rock raised $1.9 billion to buy the CrownRock stake from the fund that made the 2007 investment. Lime Rock employees made up 19% of the new fund’s investor base at the start of this year, according to filings, putting them in line for a major windfall from the sale. 

--With assistance from Mitchell Ferman.

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