The Day of The “Wildcat”
From the Aug. 15, 1921 issue
The Journal is not the only paper that has praised the efforts of the oil operators who may be termed “wildcat,” and the Texas Oil Ledger in a recent issue has the following to say regarding them:
This is the day of the “wildcat”—the pioneer company that drills a well on a large block of acreage with a small capitalization back of the company.
Hard times, low prices of oil, or no other condition can keep such a company from paying big profits to their stockholders, for in the “wildcat” or pioneer company, you are primarily interested in whether the company is going to discover oil or not. If they do, your profits are large and sure.
While drilling activities in the proven fields have recently taken a decided slump, at the same time there are more good-looking “wildcat” companies on the market than ever before. This will probably mean the discovery of several new oil fields throughout this great state, and history will again repeat itself in the payment of immense profits to those who have the courage to back the wildcatter with sufficient funds to enable him to put down the well.
Three cheers for the “wildcatter”—the man who drills a discovery well—for no new oil fields would ever be opened up without him.
The Rocky Mountain Oil Journal recently ceased publication. It was originally the Montana Oil Journal and was established in 1921 in Great Falls, which was Montana’s “Oil City” until the first “Bakken Boom” in 1953.