Hunt Oil sells ETX land that made them a household name
POSTED: Thursday, August 7, 2014 - 6:52pm
UPDATED: Monday, August 11, 2014 - 11:32am
Tyler, Texas(KETK) — Hunt Oil got its start right here in East Texas.
Back in the 20s, H. L. Hunt saw an opportunity and jumped on it. He jumped on board with Dad Joiner who was wanting to put an oil well on land found in East Texas. Hunt brought in equipment from Shreveport to start oil drilling and had tremendous success. He ended up buying several thousand acres of land in East Texas and putting oil wells on the land.
The company has since turned into one of the largest private businesses in the United States. Hunt Oil became well-known both nationally and globally how looking for oil in unlikely places. They were the first to strike oil in town in Scotland and the ancient Republic of Yemen.
This week, Hunt Oil announced they would be selling the original “East Texas Oil Field” to Vanguard Natural Resources, a energy investment firm based out of Houston. Hunt Oil sold 23 thousand acres of land for almost 300 million dollars.