Amidst World War I, the Buck Run Oil and Refining Company incorporated in Delaware on November 13, 1917.
After the war, on July 12, 1920, the company combined with the Republic Oil Company and the Oklahoma Oil and Gas Company to form the Fulton Group of Oil Companies.
At the time of consolidation into the Fulton Group, Buck Oil & Refining was contributing “the greater part of the oil,” but production soon fell off to less than 100 barrels of oil a day.
Producing wells in remote locations and transportation costs compounded Buck Run Oil’s problems.]
With diminished production, increased costs, and oil prices declining, the newly formed Fulton Group could not pay dividends. Its shares “attracted very little attention” on the unlisted market, according to American Investor magazine.
In April 1919, National Petroleum News reported on the predations of stock hucksters:
“Aroused to action by complaints of the many victims, local, federal and state authorities are tightening their grip on the stock jobbing charlatans who have mulcted their victims of millions in cash and Liberty Bonds in exchange for worthless stocks. Fake oil promotions schemes figure prominently.”
The Illinois Secretary of State published a list of 35 oil companies, “who have been denied licenses to do business under the Illinois Blue Sky Law since January 1st (1919.)”
Buck Run Oil& Refining Company was included: “The first action taken this week was a denial of a license to Chas. A. Wood & Company, stock brokers in the Westminister building, who were refused a license to sell Buck Run Oil & Refining Company at $2 a share.”
With its Delaware charter forfeited in 1921, Buck Run Oil & Refining Company disappeared from financial records.
Several other stock certificates share this certificate’s artwork: Buffalo Texas Oil Company; American Oil and Securities Corporation; Evangeline Oil Company; and Texas Production Company.
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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 bawells@aoghs.org. © 2018 Bruce A. Wells.
