Nice gushing oil rig imagery. Signed by the President.
100 Preferred shares, dated Jan 23, 1917. Sold to James Burns.
Two vertical folds, tears along folds, one a bit larger.
Henry H. Hoffman formed several petroleum companies and split his time between New York City and Houston. With interests in both oil exploration and refining, he had early hopes of finding his fortune at the Goose Creek oilfield 21 miles southeast of Houston.
Goose Creek produced many dry holes prior to a gusher in August 1916. The discovery well initially the well produced 8,000 barrels daily, a quantity indicating Goose Creek was a large oilfield. However, in October 1916, Hoffman withdrew from his interests in the Goose Creek and nearby Humble oilfields and organized two new companies. Hoffman Oil & Refining Corporation was formed to acquire and operate refineries. This company incorporated in November 1916 with Hoffman as president and was offered at $10 per share.
In August of 1918, Hoffman Oil & Refining acquired Buffalo Oil & Refining with the understanding that Buffalo shareholders were to receive 10 shares of Hoffman stock for one of their shares. There were few benefits. Although Hoffman’s company once again held properties in the Goose Creek oilfield – as well as leases in the “Roaring Ranger” oilfield and the Burkburnett oilfield – the company’s fortunes continued to fade. By July 1919, Hoffman Oil & Refining had lost its charter to do business in Texas.
American Oil & Gas Historical Society
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