The San Antonio Express-News reports Jeff Clark and Daniel "Sam" Chance will be sentenced later this year. They face possible 20-year prison terms plus making restitution.
Clark, who worked for Denver-based DCP Midstream LP, pleaded guilty Wednesday to wire fraud. Chance in June pleaded guilty to conspiracy to launder money.
The FBI in San Antonio says Clark in 2010 was a contract right-of-way damages agent for DCP and had a company checkbook. Prosecutors say Clark used company money to buy cattle, fix his barn and purchase a truck. Chance was accused of helping launder the funds.
A message left with DCP wasn't immediately returned Thursday.