Beautifully engraved antique stock certificate from the Big Gusher Oil Co. dating back to the 1920's. This document, which is signed by the company President and Secretary, measures approximately 10" (w) by 8 1/4" (h).
This certificate's vignette features a broad, bold oil field scene, including a large geyser at the center.
The Bug Gusher Oil Co. was formed as a reorganization of the Ranger & Burkburnett Oil Company No. 2. The new entity was incorporated in Delaware in 1920.
The company had properties in Texas' Luling Territory - between Luling and Robinett. One of the most significant events in Luling's history was the discovery of oil by Edgar B. Davis. Davis mortgaged everything he owned to finance drilling operations around Luling. On August 9, 1922, the Rafael Rios No. 1 well struck oil at 2,161 feet, producing 150 barrels per day.
Davis' discovery opened up an oilfield 12 miles long and 2 miles wide. The economy quickly moved from the railroad and agriculture to oil. The population of the town rapidly increased to over 5,000. By 1924, the Luling Oil Field was producing over 15 million barrels of oil per year, and oil formed much of Luling's economy for the next 60 years.
This company was probably formed to sieze on the momentum of the Rafael Rios No. 1.
The company also had a 20,000 acre lease at Turnbow Ranch.