This Week in Petroleum History, January 26 – February 1
January 26, 1931 – Third Well reveals Size of East Texas Oilfield –
As East Texas farmers struggled to survive the Great Depression, an oil discovery confirmed the existence of a massive oilfield. W.A. “Monty” Moncrief of Fort Worth completed the Lathrop No. 1 well, which produced 7,680 barrels of oil a day from 3,587 feet deep. Geologists at first thought a third oilfield had been found. (more…)
