Missing Oil Exec's Body Found in Mississippi River, Police Say

Police confirm the body pulled from the Mississippi River Tuesday is missing Houston oil executive Douglas Schantz.

Bob Young of the New Orleans police department says police believe Douglas Schantz drowned accidentally. The 54-year-old president of Houston-based Sequent Energy Management had been missing since early Friday.

Searching through videos from businesses in the French Quarter, police were able to trace Schantz from a Bourbon Street bar to the dock for the Riverboat Natchez.

He was in town to give Tulane University a $25,000 gift during a reception Thursday. A colleague who was with him says that after the dinner they went to Bourbon Street around midnight.

Police Superintendent Warren Riley said that Schantz, who left the Razzoo Bar and Patio about 2 a.m. Friday, was seen walking on a 2-foot walkway by the river.

Riley says the man had been drinking and seemed disoriented.

Schantz's son, Michael Schantz, and John W. Somerhalder II, chairman, president and chief executive officer of AGL Resources Inc., spoke about Schantz in downtown Houston on Monday. AGL Resources Inc. is the parent company of Sequent Energy Management, L.P.

"He's such a good dad. My mom dearly misses him," said Michael Schantz.

Young says Schantz had all of his credit cards and jewelry and foul play is not suspected.

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The Associated Press contributed to this report.