Old Oil Stocks – in progress “E”
If you are seeking information here, chances are you will not find lost riches – see Not a Millionaire from Old Oil Stock. The American Oil & Gas Historical Society, depends on your support, and (alas) does not have resources to research all oil corporate histories.
AOGHS continues to look into forum queries as part of its energy education mission. Some investigations have revealed little-known stories like Buffalo Bill’s Shoshone Oil Company; many others have found questionable dealings during booms and epidemics of “black gold” fever like Arctic Explorer turns Oil Promoter.
Visit the Stock Certificate Q & A Forum and view company updates regularly added to the A-to-Z listing at Is my Old Oil Stock worth Anything? AOGHS will continue to look into forum queries, including these “in progress.”
Eagle Oil & Gas Company
Eagle Oil and Gas Company is notable for having drilled the first natural gas well in Van Buren County, Arkansas, in 1923. The well was reported to have production of four million cubic feet, but company president W.E. Hall (William Edward) died that year and the company soon disappeared. Hall bequeathed to his widow (Leona) property and mineral rights in Section 32, Township 9 North, Range 13 West, of Van Buren County.
Seventy-five years later, 15 heirs and about 65 other claimants created a leasing nightmare when SEECO Inc., a subsidiary of Southwestern Energy, wanted to drill for natural gas on the property. It proposed drilling deep into the Fayetteville shale formation. Each claimant had to be found, an audit trail substantiated, and lease agreements made in order to proceed. Hundreds of pages of research and documentation ensued, followed by litigation. SEECO ultimately drilled five producing gas wells on the property. Information about the early days of Eagle Oil & Gas Company may be found at the Van Buren County Historical Society in Clinton, Arkansas.
E.A. Johnston Oil Company
E.A. Johnston Oil Company was a relatively short-lived venture, incorporated January 27, 1919, with $1 million capitalization. The company held a lease for 500 acres in Archer County, Texas, just south of oil discoveries a year earlier around Wichita Falls (learn more in Boom Town Burkburnett). Records at the Texas Railroad Commission may have details of E.A. Johnston Oil drilling operations – if any were ever undertaken.
At the end of August 1919, enthusiastic E.A. Johnston Oil stock promotions briefly appeared in both the Pittsburgh Press and Post-Gazette, as well as the Washington Post, and the Rochester (N.Y.) Democrat & Chronicle. Each newspaper featured a prominent advertisement extolling the oil exploration company’s opportunities in Texas. The ads made a persuasive case in pursuit of investors and were headlined by the attention-grabbing “Oil or Money Back.” Little more is known about the abrupt disappearance and mysterious of the E.A. Johnston Oil Company. (more…)
