The Texas Oil & Refining Company (sometimes known as Douglas-Texas Oil & Refining) was organized in Fort Worth in 1919 with capital of $200,000. It acquired an oil refinery in Port Arthur.
In October 1919, Texas Oil & Refining controlled leases in Comanche and Tillman counties of southern Oklahoma – 2,000 acres northwest of the famed Burkburnett oilfield.
Learn more about North Texas oil history in Boom Town Burkburnett.
The company also leased land south of Tulsa, where it drilled a 1,900-foot dry hole (No. 4 Henderson well) near Okmulgee.
Also in 1919, the company brought in two producing wells on its 680 acre lease in Oklahoma’s Beggs-Bixby oilfield also near Okmulgee.
In 1920, the company drilled a wildcat well in South Texas’s Gonzales County (No. 1 Hassman well) a mile west of the town of Coast. No results can be found.
The October 9, 1919, issue of Oil & Gas News promoted the company’s efforts with photos and names of company sites, principals, and investors.
A fair amount of dispersed activity and apparent success mark the company’s efforts, but it nonetheless soon disappears.
The petroleum business had a lot to do with the “Roaring 20s in Okmulgee, according to local historians.
About 35 miles north, a 1905 discovery of the Glenn Pool oilfield – located between Okmulgee and Tulsa – had brought the first rush of exploration companies and prosperity.
An oil find closer to Okmulgee came in the year of Oklahoma’s statehood, 1907.
The region’s wells were relatively shallow, about 1,500 feet deep, which lowered drilling expense. The high quality of the oil produced from these Oklahoma wells also made them attractive to investors.
“Unlike the thick, sour oil from Spindletop, the famed 1901 Texas discovery that had already played out, this oil was light and sweet – just right to refine into gasoline and kerosene,” says Norman Hyne, a professor of petroleum geology at the University of Tulsa. See Making Tulsa the Oil Capital.
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 firstname.lastname@example.org. © 2018 Bruce A. Wells.