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Early oil derricks across the West Texas landscape

Marshall and Winston Oil and Gas

A century beneath the surface.

Our history

Deep roots.
Long judgment.

Based in Midland, Texas, Marshall & Winston is an independent oil and gas operator rooted in the Permian Basin since its founding in 1928.

The company began when geologist Samuel “Sam” Marshall and capital partner Donald “Don” Winston joined complementary strengths to pursue opportunity in a developing region. From mineral interests and royalty holdings to active drilling, the record has been shaped by geology, patience, and considered risk.

Read the record
Oil storage tanks and utility lines near Midland, Texas, in 1937
Oil tanks near Midland, western Texas, May 1937. Photograph by Dorothea Lange. Library of Congress, FSA/OWI Collection. Public domain.

A record written
in geology.

From the founders’ first meeting in 1926 toward the upcoming 2028 centennial, the record is a succession of decisions, discoveries, and people willing to look deeper.

  1. 1926

    Geology meets considered risk.

    The partnership begins

    Sam Marshall meets Don Winston in Los Angeles. Sam brings petroleum geology. Don supplies capital and a willingness to take considered risk.

  2. 1928

    A company takes root in the Permian Basin.

    Marshall & Winston is formed

    The partnership acquires interests across West Texas and southeastern New Mexico, laying the foundation for the company’s long operating record.

  3. 1941

    The subsurface reveals a larger story.

    Looking deeper

    A well drilled to 8,000 feet finds Glorietta and Clearfork production, helping define the shape of the Central Basin Platform.

  4. Late 1950s

    William S. “Bill” Marshall enters the field.

    A new generation joins

    Trained as a geologist, Bill joins Marshall & Winston and helps discover the Portal Field.

  5. 1967

    From royalty trading toward active drilling.

    A new chapter

    Following Sam Marshall’s death, Bill Marshall is elected president and chief executive officer and leads an expansion into more active drilling.

  6. 2007

    Three names, one Hall of Fame induction.

    A shared honor

    Sam Marshall, Bill Marshall, and Don Winston are inducted together into the Petroleum Hall of Fame.

  7. Upcoming2028

    The next landmark: one hundred years.

    The upcoming centennial

    In 2028, Marshall & Winston will mark its upcoming centennial, one hundred years after Sam Marshall and Don Winston formed the company.

Built on
complementary strengths.

The people behind the record brought geology, capital, judgment, and the patience to think in decades.

Portrait of Samuel Sam Marshall
Permian Basin Petroleum Museum archive · Samuel Marshall

Samuel “Sam” Marshall

Geologist · Co-founder · 1899-1967

Sam’s geological work in the Permian Basin preceded the 1928 partnership. His subsurface judgment became one of the company’s defining strengths.

Portrait of Donald Don Winston
Permian Basin Petroleum Museum archive · Donald Winston

Donald “Don” Winston

Capital partner · Co-founder

Don supplied capital and a willingness to take considered risk. His partnership with Sam gave the company its enduring balance of conviction and discipline.

Portrait of William Bill Marshall
Permian Basin Petroleum Museum archive · William Marshall

William S. “Bill” Marshall

Geologist · Elected president and CEO in 1967 · 1929-2013

Under Bill’s presidency, Marshall & Winston made discoveries including the Blackard-Clinta complex and Lonesome Dove Field II, and expanded the Francis Hill gas field.

Steven M. “Steve” Wyman

Member of the Winston family · Chairman emeritus

As a member of the Winston family, Steve carried its stewardship into a later generation, serving as chairman of Marshall & Winston and now as chairman emeritus.

William S. “Billy” Marshall, Jr.

Sam Marshall’s grandson · Third-generation stewardship

Billy, the son of Bill Marshall and grandson of founder Sam Marshall, represents the third generation of Marshall family stewardship and has managed the company’s oil and gas exploration business.

Prototype archive note: publication rights for museum-sourced portraits must be confirmed before public launch.

The next century is already being written.

Founded in 1928, Marshall & Winston will mark its upcoming centennial in 2028. Its record is measured in formations understood, relationships kept, and decisions made with the long view in mind.

A direct line
to Midland.

For landowner, mineral, operating, and business inquiries, contact the Marshall & Winston office in Midland, Texas.

Main office (432) 684-6373 Midland office 6 Desta Drive, Suite 3100
Midland, Texas 79705 New Mexico operations sroberts@mar-win.com
Mailing address P.O. Box 50880
Midland, Texas 79710