During 1919, the Cauble Oil Company solicited investors through frequent promotions in Texas newspapers.
Advertisements in the El Paso Herald and San Antonio Evening News declared the company to “Have the Proven Acreage” in Texas’ famous Burkburnett oilfield.
Learn about that historic 1918 discovery in Boom Town of Burkburnett.
Cauble Oil shares were offered at $10 and the company capitalized at $85,000 to secure enough funding to drill.
Advertisements declared, “Our property is surrounded by hundreds of PRODUCING wells.”]
Sufficient investors were found to enable Cauble Oil Company – sometimes promoted as the Cauble Oil and Development Company – to drill at least two wells on its 45 acre holdings near Wichita Falls.
Neither of the company’s exploratory wells, the No. 1 Dale Ranch well nor the No. 1 Burnett well, were successful. The company disappeared after 1920.
Shareholders were left with worthless stock certificates that now have only collectible value.
At the time, there were more than 850 producing wells at Burkburnett – in what would be called “the world’s wonder oilfield.”
The stories of exploration and production companies joining petroleum booms (and avoiding busts) can be found updated in Is my Old Oil Stock worth Anything? The American Oil & Gas Historical Society preserves U.S. petroleum history. Please support this AOGHS.ORG energy education website. For membership information, contact email@example.com. © 2018 Bruce A. Wells.