When Clem Dawlish and Amos Grant discover a valuable oil field near the town of Carterville, they plan to eliminate the ranchers and homesteaders in order to stake their claim. They create a phantom to head a gang of outlaws and destroy the ranchers. The scheme works and Dawlish becomes a power in Carterville. But another phantom arises: one who would avenge all who had died at Dawlish's orders. Now the law of the gun — and justice.