 In September 1918, he incorporated a new firm, Guffey Gillespie Oil Company with E. N. Gillespie.It leased 220,000 acres in the Mid-Continent and Texas oil fields and was valued around $3,500,000 in 1921.After the United States joined its allies in the World War I, Guffey entered the government service and was appointed a member of the War Industries Board (Petroleum Service Division), as well as the Director of the Bureau of Sales in the Office of Alien Property Custodian.