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In 1904, Alexander Massey, owner of Spurlock Petroleum Company, hired Tom Slick, who already had acquired a reputation as a good "lease man" to assist him in buying up oil leases. Massey already had a string of successes drilling in Kansas, finding either oil or gas in 25 consecutive wildcat wells.
When Kenneth died in 1960, Helen liquidated their companies by selling them to Gulf Oil. She kept their various oil and gas leases in Kansas, Oklahoma, and Texas. In 1972 she decided to finally sell the oil and gas leases to Rex D. Archer, an employee that Kenneth had hired in 1955 to find these leases.
He then began selling lumber for derricks in the oil fields of southeastern Kansas. On the side, he started speculating in oil leases. [2] The opportunity in the rapidly expanding oil industry saw him become a lease broker and acquire an interest in the White Oil Company. In 1904, Sinclair married Elizabeth Farrell of Independence, Kansas.
With the price of oil quickly increasing from 40 cents a barrel to more than $1 a barrel, the brothers decided to consolidate their holdings in a single company, Phillips Petroleum Company. They incorporated on June 13, 1917, under Delaware law. The new company had assets of $3 million, 27 employees and leases throughout Oklahoma and Kansas. [18]
Oct. 21—Friday's edition of the Great Bend Tribune will include a 32-page magazine celebrating the Kansas Oil & Gas Hall of Fame inductees of 2021. Eleven individuals will be honored Saturday at ...
He became an oil broker and entrepreneur, buying and selling oil leases, and started a real estate business. During the Great Depression, he sold Oklahoma farmland to African Americans in East Texas, who had made money in the oil boom. [2] Meanwhile, he expanded his oil lease-trading business into Texas, Louisiana, Arkansas and Kansas. [1]
The Department of Interior's scrapping of the leases comes after the Biden administration disappointed environmental groups earlier this year by approving the Willow oil project in the petroleum ...
Environmentalists are fuming after the Department of the Interior auctioned leases to drill for oil in an 80-million-acre section of the Gulf of Mexico on Wednesday morning.