Tuesday, April 28, 2015

This Week in Oil and Gas History

May 1, 1860

The oil industry of (West) Virginia began with a well drilled to 303 feet and producing 100 barrels per day. It was drilled near Burning Springs, so named because of the natural gas seeps in the area. Wirt County, where the lease was located, became part of a new Union state in 1862. The oil field was attacked and destroyed by Confederate troops in 1863.

May 1, 1916

The Sinclair Oil and Refining Company was formed. They used an Apatosaurus as their logo. It was featured in their exhibits in the 1934 and 1964 World's fairs.

May 1, 1931

The Texas Railroad Commission moves to limit production from the East Texas oilfield in an effort to shore up the price of oil which was as low as $0.10 per barrel. The East Texas field was one of the United States largest and has produced 5 Billion barrels to date.

During WW II, the then largest pipeline (24" diameter) in the country was built to the east coast to carry oil to refiners there. It had become too dangerous to ship oil on the seas.

No comments: