At the turn of the 20th century, the federal government dissolved the Indian Nations land by distributing parcels into private ownership. At age nine, Gilcrease's 1/8 Creek heritage entitled him to receive 160 acres (650,000 m²), located about twenty miles (32 km) southwest of Tulsa, Oklahoma. In 1905, drillers struck oil in the area. His land, sitting astride the huge Glenn Pool Oil Reserve, made Gilcrease a multi-millionaire by the time he was twenty. Though he struggled early in his career, he proved to be an astute businessman. He founded the Gilcrease Oil Company in 1922, and with early successes, was able to purchase more land. Gilcrease established his company headquarters in San Antonio, Texas in 1937 and also maintained an office in Europe. In 1949, the headquarters of the company moved to Tulsa.