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TEAM's news room features top stories in the petroleum industry. We aim to deliver the latest oil and gas news; oil and gas pricing, and activity within our company.


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Today in Oil & Gas History: September 14, 1929

Today in Oil & Gas History:

September 14, 1929 – West Texas Well will set Record

The Yates field has been producing continuously since the 1920s. Pecos County alone covers more than 4,700 square miles.

A West Texas well struck oil at a depth of 1,070 feet and produced an astounding 204,672 barrels of oil a day- the most productive well ever drilled up until that time. The Yates 30-A well initially produced 8,528 barrels of oil per hour. The Pecos County well was just a few hundred yards from the 1926 discovery well of the Yates field, the Ira G. Yates 1-A.

First discovered in 1920, the Permian Basin’s huge size had been revealed in 1923 by the Santa Rita No. 1 well. The Yates 30-A well, operated by Transcontinental Oil and the Mid-Kansas Oil and Gas Company (then a subsidiary of Ohio Oil, now Marathon) helped bring great prosperity to Midland, Odessa, and new oil towns like Iraan. In 1985, the Yates field produced its billionth barrel of oil.

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