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Story
January 31, 1931
Montana Oil Journal
Great Falls, Cascade County, Montana
What is this article about?
Ed. W. Bateman, an oil promoter, strikes a gusher in East Texas at 3630 feet in the Woodbine sand, previously scorned by big companies. He sells the well and 1,400 acres to Humble Oil & Refining Company for $2,100,000, sharing profits with investors. The well flows at 21,600 barrels daily.
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OCR Quality
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Full Text
Wildcatter Gets Two Million Dollars For Leases Around Gusher
Ed. W. Bateman, newspaper man, oil promoter and advertising copy writer, has tamed an East Texas wildcat and sold out for a fortune—$2,100,000 to be exact.
Until the Bateman gusher roared in with an oil flow tapped in the Woodbine sand at 3630 feet, big companies scorned the location picked by Bateman.
When it became evident that he had opened up a new field, he was besieged with buying offers, the race being won by the Humble Oil & Refining Company.
The deal includes the well and Bateman's acreage block, which takes in only 1,400 acres.
Dozens of investors who helped Bateman drill the well will share in his profits.
The well flowed at the rate of 21,600 barrels daily when the initial test was made.
Ed. W. Bateman, newspaper man, oil promoter and advertising copy writer, has tamed an East Texas wildcat and sold out for a fortune—$2,100,000 to be exact.
Until the Bateman gusher roared in with an oil flow tapped in the Woodbine sand at 3630 feet, big companies scorned the location picked by Bateman.
When it became evident that he had opened up a new field, he was besieged with buying offers, the race being won by the Humble Oil & Refining Company.
The deal includes the well and Bateman's acreage block, which takes in only 1,400 acres.
Dozens of investors who helped Bateman drill the well will share in his profits.
The well flowed at the rate of 21,600 barrels daily when the initial test was made.
What sub-type of article is it?
Personal Triumph
Historical Event
What themes does it cover?
Fortune Reversal
Triumph
What keywords are associated?
Oil Gusher
Wildcatter
East Texas
Humble Oil
Oil Leases
Fortune Sale
What entities or persons were involved?
Ed. W. Bateman
Humble Oil & Refining Company
Where did it happen?
East Texas
Story Details
Key Persons
Ed. W. Bateman
Humble Oil & Refining Company
Location
East Texas
Story Details
Ed. W. Bateman drills a successful wildcat well in East Texas, striking oil in the Woodbine sand, leading to a $2,100,000 sale to Humble Oil including the well and 1,400 acres, with profits shared among investors.