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Architectural drawing of the Boston Building in Denver.

Architectural drawing of the Boston Building in Denver.

In 1917 and 1918, with the United States fighting in World War I, the Double Standard Oil & Gas Company sought investors for the booming oilfields.

“Double Standard Oil & Gas Company is the owner of valuable oil leases in Kansas, Oklahoma, and Wyoming,” the company told potential investors. Read the rest of this entry »

 

 Published in June 2013, Texas Oil and Gas, is part of Arcadia Publishing’s series of books featuring historic postcards. Using often rare postcards from the state's historic oilfields, author Jeff Spencer, a Houston geologist, conveys a lot of fascinating details through his carefully researched captions.

Published in 2013, Texas Oil and Gas, is part of Arcadia Publishing’s series of books featuring historic postcards. Using often rare postcards from the state’s historic oilfields, author Jeff Spencer, a Houston geologist, conveys a lot of fascinating details through his carefully researched captions.

For anyone interested in exploring petroleum history – or vintage postcards from Texas – one book combines both in an educational 128 pages.

The history of America’s oil and natural gas industry provides an important context for teaching young people the modern energy business. Arcadia Publishing’s Texas Oil and Gas by Jeff A. Spencer is a teaching resource that should be in many Texas high-school classrooms.

A geologist with Amromco Energy, Houston, Spencer has authored or co-authored more than 20 oilfield history papers. He has documented petroleum-related postcards from West Virginia, California, Ontario, Kansas, Pennsylvania and Texas.

A tenacious researcher and collector – the majority of the book’s more than 200 images are from the author’s private collection – Spencer acknowledges help received from Texas oil museums. Read the rest of this entry »

 

Texas Production Company was incorporated on June 18, 1917, with capitalization of $1 million.

By 1919, this company brought in the Renner No. 1 well at 475 barrels a day from the Waggoner oilfield, near Electra and the recent extension of the Burkburnett field.

According to the Texas Historical Commission, oil exploration and production in this area was minimal until April 17, 1919, when the Bob Waggoner Well No. 1 blew in at 4,800 barrels per day. It was the first well in what became known as the Northwest Extension Oilfield, comprised of approximately 27 square miles.

Oil had been found in 1912 west of Burkburnett in Wichita County, followed by another oilfield in the town itself in 1918. The Wichita Falls region’s drilling booms inspired a 1940 Academy award-winning movie. See “Boom Town of Burkburnett.”

The company also appears to have drilled productive oil wells in the in the Humble oilfield of Harris County, bringing in the Bissonnet Np. 1 well to a depth of over 4,000 feet, one of the deepest in the field at the time.

That well produced up to 2,000 barrels of oil a day in 1921. In the same year however, a Texas Production Company investor sought advice from a leading financial publication. The answer was not promising.

“So far as we can make out you bought into an oil production of little or no merit, which has simply gone the way of any number of such enterprises,” United States Investor noted.

“Shares of the Texas Production Company are now being offered at a few cents a share by unlisted brokers which would indicate that a sale of your stock would net you little,” the magazine added. “There is no way for you to get your money back.”

United States Investor encouraged its readers to avoid investing in any questionable petroleum-related bonds.

“This may be a time for strong companies to invest in oil at a low figure,” Investor  proclaims, “but a company which must bond itself to pull itself out of a hole can’t do much in the way of speculation on the future price of oil to get back for its stockholders what has been already taken by unscrupulous promoters.”

Note that the company’s certificate includes a vignette of derricks commonly seen on those of other companies formed (and failed) in oil regions: Centralized Oil & Gas Company, the Double Standard Oil & Gas Company, the Evangeline Oil Company, the Texas Production Company and the Tulsa Producing and Refining Company! See “Is my Old Oil Stock worth Anything?”

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