The new name is going to start a new era for our company … Its ultimate meaning and what it stands for will depend upon what you and I make it.

M.A. Wright, Exxon USA Board Chairman
The most successful independent oil operations grew into major corporations. Spindletop launched Texaco, Sunoco, and Humble (now known as Exxon USA), among others. Phillips Petroleum Company, a progenitor of what is now ConocoPhillips and Phillips 66, worked the natural gas fields of the Texas Panhandle. Other companies, such as Pennzoil, operated elsewhere but still located their headquarters in Texas, further demonstrating the state’s significance to the American oil and gas industry.