King of the Tulsa oil patch, oil and gas exploration and production independent Kaiser-Francis Oil Company buys, sells, and develops oil and gas properties, primarily in Arkansas, Colorado, Kansas, Nebraska, New Mexico, North Dakota, Oklahoma, Oregon, Texas, West Virginia, and Wyoming. The company teamed up with fellow Tulsa-based energy firm SemGas LP to help build the Wyckoff Gas Storage facility (6 billion cu. ft. of working gas storage) in Steuben County, New York. Local billionaire George Kaiser owns and manages Kaiser-Francis Oil. In 2009 Forbes pegged George Kaiser's estimated wealth at $9.5 billion.
In 2009 Kaiser committed $40 billion to several initiatives at The University of Tulsa, including $8 million to help fund the Tulsa-based National Energy Policy Institute, which is working with experts across the country to determine market-driven, pragmatic and alternative fuel sources to foreign crude supply.
German immigrant Herman Kaiser (Kaiser Oil) and his uncle Sam Miller (of Francis Oil) developed what was to become Kaiser-Francis Oil, by drilling in Western Kansas between 1948 and 1962. Herman's Harvard-educated son George took over the running of the company in 1969.