1930 - East Texas Discovery: Deal of A Lifetime

In November 1930, H.L. Hunt acquired the Daisy Bradford No. 3 from J.M. “Dad” Joiner near Kilgore, Texas. H.L. Hunt bought the lease out “lock, stock and barrel,” financing the deal with a first-of-its-kind agreement to make payments from future “down-the-hole” production. The Bradford No. 3 turned out to be the discovery well of the great East Texas oil field, which, at the time, was the greatest oil field in the world.