Great Western Oil & Gas Company was solvent in 1959 with owners listed as James C. Meade (later of Meade Energy), Firth C. Owens, and R.P. Ross.

The company held geologically “promising” leases at that time, but heavy expenditures in the unsuccessful development of these leases led to financial difficulties beginning in 1961.

By February 1962, Great Western properties were worth only $60,000 and the bankruptcy presumably followed in 1964. A number of similarly named but unrelated oil companies have come and gone over many years – beginning as early as the 1860s.

A long defunct namesake was established in 1864 as the Great Western Oil Company. That company’s zenith was a 1902 gusher, discovered at a depth of 683 feet, which opened the Sour Lake oilfield 20 miles northwest of Beaumont, Texas.

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