Joiner’s trick was : he sold more than 100% of the well's interest, essentially gambling that he would never actually strike oil. If the well was a "duster" (dry), he could just move on to the next scam. However, in 1930, against all scientific odds, the Daisy Bradford No. 3 blew a massive gusher, revealing the East Texas Oilfield —the largest in the lower 48 states at the time. Instead of celebrating, Joiner was reportedly terrified; he had sold the same well so many times that he was in deep legal trouble. He eventually sold his entire stake to tycoon H.L. Hunt for $1.3 million to escape the chaos of 300 simultaneous lawsuits. How to Actually Buy In Today
How to Invest in Oil & Gas Wells (2026) - Kingdom Exploration how to buy an oil well in texas
Buying an oil well in Texas is rarely like buying a house; it is more like buying a complex, high-stakes business that happens to be buried deep underground. While you can occasionally find individual producing wells for sale on marketplaces like DealStream , most individuals participate through where they own a percentage of a well's production alongside a professional operator . The Famous "Daisy Bradford" Con Joiner’s trick was : he sold more than
The most legendary story of buying a Texas oil well involves " Dad" Joiner and the . In the late 1920s, Columbus Marion "Dad" Joiner was a classic wildcatter—and a bit of a con artist. He convinced hundreds of investors, mostly widows and small-town doctors, to buy shares in a well that expert geologists said would never hit oil. 3 blew a massive gusher, revealing the East