Louisiana Land and Exploration Company
Nicely engraved antique stock certificate from the Louisiana Land and Exploration Company dating back to the 1960's. This document, which contains the printed signatures of the company President and Treasurer, was printed by the American Bank Note Company, and measures approximately 12" (w) by 8" (h).
This certificate's vignette features a female figure holding a test tube. In the background are a pair oil fields and two trains.
The Louisiana Land and Exploration Company (LL&E) is one of the largest independent oil and gas exploration companies in the United States. Headquartered in New Orleans, it operates a crude oil refinery near Mobile, Alabama, and conducts exploration and production operations in the United States and selected foreign countries. Of the company's 225 million barrels of oil equivalent reserves, nearly 60 percent are garnered from domestic sources. Foreign reserves are located in the U.K. and Dutch sectors of the North Sea, Canada, and Columbia.
Founded as the Border Research company in 1926 and renamed Louisiana Land and Exploration a year later, LL&E, for its first twenty years, essentially collected royalties from fossil fuels extracted from nearly 600,000 acres it controlled in southern Louisiana. During the 1950s, CEO Robert M. Youngs began investing in working interest wells. During the 1960s, CEO Fred Graham began a process of diversification that would eventually include a Hawaiian resort, a coastal industrial real estate operation, and coal, gold, and copper mines. During the early 1980s, lackluster exploration results and fluctuating prices destabilized the company's finances and forced it to sell its non-oil and gas efforts and concentrate on finding new low-cost reserves.