Sinclair celebrates a century in business

Sinclair celebrates a century in business

(Ravell Call/Deseret News)


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SALT LAKE CITY — One of Utah’s most recognizable brands is celebrating its 100th anniversary today. And while it may be a virtual household name to drivers across the West, the Sinclair Oil Corp. has endured some of the nation’s most challenging economic times to keep its current place among the more successful petroleum producers in American history.

Founded by Harry Sinclair, Sinclair Oil and Refining Corp., as it was originally known, began operating May 1, 1916.

The native West Virginian had made some money previously buying and selling small oil leases, managing just enough profit to attract investors, said Clint Ensign, Sinclair Oil senior vice president.

Sinclair's successes snowballed as he rolled small profits into larger ventures that eventually led to a "gusher" in Oklahoma’s Glenn Pool oil field. That made him a millionaire by age 30. Within a year, the fledgling company was four times its original size, and in the 1920s, the company introduced the first modern service station, Ensign said.

During the Great Depression, Sinclair bought up dying competitors and was at the helm when the company launched the now famous Dino mascot and emblem. The well-known dinosaur icon was registered in 1932, after appearing in early marketing advertisements, then in an exhibit at the 1933 Chicago World’s Fair, which further confirmed Dino as the symbol of the company.

Sinclair retired as president of Sinclair Oil and Gas Co. in January 1949 after 33 years of leadership.

“Without question, for the first half-century of the company, he looms as the largest, most dominant figure that shapes the history of Sinclair,” Ensign said.

Sinclair Oil founder Harry Sinclair. Established on May 1, 1916, the company is celebrating its 100th year in business this year. Sinclair retired as president of Sinclair Oil and Gas Co. in January 1949 after 33 years of leadership. At the time, the company was among the Forbes top 100. (Photo: Sinclair Oil Corporation)
Sinclair Oil founder Harry Sinclair. Established on May 1, 1916, the company is celebrating its 100th year in business this year. Sinclair retired as president of Sinclair Oil and Gas Co. in January 1949 after 33 years of leadership. At the time, the company was among the Forbes top 100. (Photo: Sinclair Oil Corporation)

The company was among the Forbes top 100 for the next several decades and is one of the oldest continuous brands in the oil business, he said.

Sinclair Oil was acquired in 1969 by the Atlantic Richfield Co., which sold its assets to PASCO Inc. three years later. PASCO then sold all assets to Earl Holding in 1976.

Born in Salt Lake City, Robert Earl Holding, and his wife, Carol, built the Little America chain of hotels and gas stations — having become one of Sinclair’s biggest customers before they bought the company, Ensign said.

In 1952, the couple had purchased a failing motel in Little America, Wyoming — 35 miles west of Rock Springs. Following the installation of I-80, the hotel's service station had the world's largest filling station with 55 pumps in operation. It had become exceptionally profitable, he noted.

The couple's initial success afforded them the ability to build new hotels in Cheyenne, Wyoming; Flagstaff, Arizona, and Salt Lake City. Earl Holding was actively involved in the management and leadership of the company until his death in 2013, he said.

With an estimated current net worth of around $2.6 billion at the time of his passing, Holding was ranked among the Forbes 400 list as one of the richest people in America.

“In the second half-century of Sinclair, the largest figure is Earl Holding,” Ensign said.

Today, the Holding family continues to own and run the business under the leadership of son-in-law Ross Matthews, who has served as chairman and CEO since 2009.

Carol and Earl Holding. The Holdings purchased Sinclair Oil Corp. in 1976. Earl was the president for 33 years. The family-owned enterprise continues to run the business today. Established on May 1, 1916, the company is celebrating its 100th year in business this year. (Photo: Sinclair Oil Corp.)
Carol and Earl Holding. The Holdings purchased Sinclair Oil Corp. in 1976. Earl was the president for 33 years. The family-owned enterprise continues to run the business today. Established on May 1, 1916, the company is celebrating its 100th year in business this year. (Photo: Sinclair Oil Corp.)

Registered in Wyoming, Sinclair Oil Corp. has executive offices in Salt Lake City and operations that include exploration, production, refining, distribution and marketing of gasoline, diesel, jet fuel, asphalt and petrochemical feedstock. The company’s refineries are located in the Wyoming cities of Casper and Sinclair, Ensign said.

Employing more than 1,200 employees nationwide, the privately run company also owns and operates The Grand America Hotel in Salt Lake City, Little America hotels and travel centers, The Westgate Hotel in San Diego, Sun Valley Resort in Idaho and Snowbasin Resort in Huntsville. Additionally, the company operates working cattle ranches in Montana and Wyoming.

Sinclair owns, franchises and licenses more than 1,300 Sinclair branded stations across 24 states — mostly west of the Mississippi River. The company also operates the largest refinery operations in the Rocky Mountain region.

“It is remarkable that a company can survive (100 years) with the ups and downs of the oil and gas industry,” Ensign said.

Despite the turmoil of the global petroleum market, he said the company is firmly positioned to continue operating for the next century.

“Sinclair is a very American company. Most of the crude oil that we process is American (and) we only market in the United States,” he said. “Our exploration and production activities are in the United States.”

With that plan having worked so well for a century, there are no plans to change course anytime soon, he said.

“We’re very well poised to move into the future,” Ensign said. “People love a dinosaur!”

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