Oil Reigns at King Ranch
America’s largest ranch signed a record-setting lease in 1933, launching a major oil company.
The largest U.S. private oil lease ever negotiated was signed in Texas during the Great Depression. The 825,000-acre King Ranch oil deal with Humble Oil and Refining, signed on September 26, 1933, would help the company become ExxonMobil, which has extended the agreement ever since.
Encompassing 1,289 square miles, the King Ranch is the largest ranch in Texas — and larger than the state of Rhode Island. Established in 1853 by Captain Richard King, the privately owned ranch spans four counties. Despite unsuccessful wells drilled on the South Texas ranch for more than a decade, a Humble Oil geologist was convinced an oilfield could be found. (more…)
