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In 1904, Alexander Massey, owner of Spurlock Petroleum Company, hired Tom Slick, who already had acquired a reputation as a good "lease man" to assist him in buying up oil leases. Massey already had a string of successes drilling in Kansas, finding either oil or gas in 25 consecutive wildcat wells.
He then began selling lumber for derricks in the oil fields of southeastern Kansas. On the side, he started speculating in oil leases. [2] The opportunity in the rapidly expanding oil industry saw him become a lease broker and acquire an interest in the White Oil Company. In 1904, Sinclair married Elizabeth Farrell of Independence, Kansas.
When Kenneth died in 1960, Helen liquidated their companies by selling them to Gulf Oil. She kept their various oil and gas leases in Kansas, Oklahoma, and Texas. In 1972 she decided to finally sell the oil and gas leases to Rex D. Archer, an employee that Kenneth had hired in 1955 to find these leases.
He became an oil broker and entrepreneur, buying and selling oil leases, and started a real estate business. During the Great Depression, he sold Oklahoma farmland to African Americans in East Texas, who had made money in the oil boom. [2] Meanwhile, he expanded his oil lease-trading business into Texas, Louisiana, Arkansas and Kansas. [1]
The foundational legal document of the U.S. oil and gas industry is the oil and gas lease. [6] Oil and gas producing companies do not always own the land they drill on. Often, the company (the lessee) leases the mineral rights from the owner (the lessor). Major points in a lease include the description of the property, the term (duration), and ...
Monday's lawsuit in the U.S. District Court in Alaska challenges the federal government's December 2024 decision to offer oil and gas drilling leases in an area known as the coastal plain with ...
The Department of Interior's scrapping of the leases comes after the Biden administration disappointed environmental groups earlier this year by approving the Willow oil project in the petroleum ...
Haroldson Lafayette Hunt Jr. (February 17, 1889 – November 29, 1974) was an American oil tycoon. [1] By trading poker winnings for oil rights according to legend, but more likely through money he gained from successful speculation in oil leases, he ultimately secured title to much of the East Texas Oil Field, one of the world's largest oil deposits.
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