Oil in Arkansas — The Wildcatters

Oil in Arkansas — The Wildcatters. . During the oil boom numerous individuals, or wildcatters, made their mark on the South Arkansas scene. H. L. Hunt, at one time the richest man in the world, opened a barrelhouse on Hamburger Row, made his financial stake there, and then started investing in drilling ventures in the Smackover Oil Field as the Hunt Oil Company. C.H. Murphy, the founder of Murphy Oil Corporation, was a successful businessman in El Dorado, and his timber and land holdings allowed him to start Murphy Oil Corporation now a Fortune 500 company. Pat Marr, a Texas oilman, staked a well near the Smackover Field and offered a money-back guarantee to his investors, promising them he would bring in a gusher, and he did. J. D. Nantz, a Fort Worth, Texas oilman, formed the Smackover Company and predicted his investors would be receiving $75,000 a day in income within a few weeks. Colonel T. H. Barton started with a gas gathering system, and later purchased a small refinery, expanded it into the Lion Oil Company, which at one time had several thousand gasoline stations across the mid-South. Other South Arkansas businessmen who invested in the oil boom and became successful were Joe Mahony, Emon Mahony, Sr., H. C. McKinney, John Trimble, Sid Umstead, Dean McGee, O. G. Murphy, W. E. Corey, J. E. Berry, and Dr. J. S. Rushing. Charles Murphy, Jr., the son of C. H. Murphy, took over Murphy Oil Corporation in 1947 and over several decades built the Corporation into an international oil giant. Chesley Pruet expanded an interest in a single drilling rig into a multi-million dollar oil and gas exploration company. O. C. Bailey and Boyd Alderson, former chairmen of the Arkansas Oil and Gas Commission, were responsible for the orderly development of the industry during this formative period.