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KFG's CEO has history in Texas. Grandfather founded

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JonnyRBuck12   Thursday, 10/15/15 10:05:05 AM
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KFG's CEO has history in Texas. Grandfather founded Wichita Falls on Oil

I have found an article which links the CEO of KFG Resources back to Texas. This shows how his family has been involved in the Witchita area for almost eighty years. It is very significant because it means the CEO has a better idea of the oil in that area than any other large cap company. After all, Robert Kadane's family created that city because of the industry they started. I confirmed this information with the CEO of KFG Resources, you can always call or email him yourself.


Kadane Discovery WellMarker Title: Kadane Discovery Well
Address: SH 25, S of Electra
City: Electra
Year Marker Erected: 1978
Marker Location: From Electra take SH 25 about 14 miles south. Marker is located on west side of highway.
Marker Text: Oil development in this part of Wichita County began in 1919 from shallow depths in the KMA Field. As the original wells went dry, and a severe national Depression blighted the country in the 1930s, the oil industry sought new production. The Mangold family, owners of land at this site, offered liberal terms for deeper exploration, but at first found no driller willing to take the risk on the scant capital then available. Finally veteran operator George E. Kadane (1881-1945) and sons Edward, Jack, and Mike had the courage to drill in this area of negative geologic readings. On Nov. 11, 1937, they struck oil at a depth of 3800 feet, bringing in Mangold No. 1 as a gusher. The discovery effected an extension of the KMA Field. This spot was labeled "Kadane Corner" on local maps. Other operators rushed in, starting a new Wichita County boom. Along with a rapid rise in population came new housing construction, new industries, new jobs, and an era of financial growth. In 1942 a test well on the Griffin Ranch came in at 4300 feet. Final development of the field resulted in more than 2000 producing wells in an area of 75,000 acres.

NOTE: George Kadane is Robert Kadane's grandfather.

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