The business that became Gulf Oil started in 1901 with the discovery of oil at Spindletop near Beaumont, Texas. A group of investors came together to promote the development of a modern refinery at nearby Port Arthur to process the oil. The largest investors were Andrew Mellon and William Larimer Mellon Sr., of the Pittsburgh Mellon family. Other investors included many of Mellon's Pennsylvania clients as well as some Texas wildcatters. Mellon Bank and Gulf Oil remained closely associated thereafter. The Gulf Oil Corporation itself was formed in 1907 through the amalgamation of a number of oil businesses, principally the J.M. Guffey Petroleum Company, Gulf Pipeline Company, and Gulf Refining companies of Texas. The name of the company refers to the Gulf of Mexico where Beaumont lies.