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1.
When a man pours a large amount of lube on his penis and in the asshole of his sexual partner in order to assure a well lubricated fit. After the male is finished with the intercourse, and pulls his penis from the other person and the other person shits creating a liquid that is a mix of shit and lube. This liquid looks similar to crude oil so the word is "Striking Oil"
"DUDE!!! I am totally striking oil with my girlfriend tonight."

"Dude I Struck Oil last night and it was all over the sheets"

by Kelvin Haus September 16, 2008
41 3
 
2.
The definition of striking oil is when the dirty bitch go's on all fours and spreads her ass hole open and squirts a hell of a lot of lube up that ass. Then the horny mother fucker approaches the lubed up ass hole and plow that bitches hole until she makes a ummpphh sound and a whole lot of brown shit and lube squirts out of her ass hole like a fucking hose. Then you punch that bitch in the face and take a hot steamy shit on her face.
Dude I saw bobby striking oil with lafonda

Bro no way I finna wanna strike oil will you plow my ass

Dude fersure!
by DatHellarFunny September 15, 2011
2 14
 
3.
when you bring on a period through intercourse with a woman.
"he went in so deep he struck oil"

"its that time of the month so im gonna be striking oil tonight"
by savagebjs April 26, 2009
5 27
 
4.
A Devious prank done by one male to another. It is done as the victim is sleeping on their back. You get naked from the waist down. Climb over said victim and hover your ass/choad/balls over there face, then smack them in the balls.
I'm totally striking oil on Jeff tonight! Yeah, but he's totally gonna kill you. I mean literally kill you man.
by Monknutz August 31, 2007
2 34