FORT WORTH, Texas (AP) — Oil tycoon T. Boone Pickens, who is recovering from a series of strokes and a fall last year, said Friday that he is closing his Dallas energy-focused hedge fund after what he described as "one hell of a roller coaster ride."

"It's no secret the past year has not been good to me, from a health perspective or a financial one," the 89-year-old Pickens said in a statement published on his LinkedIn page. Slumping oil and natural gas prices knocked him off Forbes magazine's rich list in 2013.

Pickens founded BP Capital in 1996 after building one of the country's biggest ind...