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3 results for"Burkburnett oil boom"

Drilling for water on his Texas farm, Fritz Fuchs hit oil at 300 feet; a deeper test followed, and leases paid $84,000 in cash plus a 1/6 royalty on 482 acres

Discover how Fritz Fuchs' search for water on his Texas farm led to an unexpected oil boom that transformed a small town and created economic opportunities for struggling farmers in 1915.

4h ago

World

After leasing drilling rights on his 71-acre Tennessee farm for 12.5%, Vernon Lawhorn saw an oil strike reportedly bring in $30,000 a month and bought a $6,500 Dodge

Discover how Vernon Lawhorn transformed his 71-acre Tennessee farm into an oil-producing asset, generating $30,000 per month after leasing drilling rights at a 12.5% royalty rate. Learn about the significance of this rare oil strike in a state not traditionally known for oil production.

3h ago

World

After buying a Pennsylvania farm in 1850, James McCray sold an oil lease to fund a nearby well; the venture brought him $70,000, and he later refused $1 million

Discover the remarkable story of James McCray, a farmer who sold an oil lease to fund a nearby well, turning a $70,000 profit while navigating the volatile oil market and rejecting a staggering $1 million offer for his land.

3h ago