| The history of Texas oil exploration
| |
| | Barret was forced to close up shop on his
|
| began as far back as 1859, when a
| |
| | "oil man" dreams and return to his
|
| determined young entrepreneur, Lyne
| |
| | previous humble occupation of general
|
| Taliaferro Barret leased 279 acres near
| |
| | store owner in Melrose, Texas.
|
| an area in East Texas aptly named Oil
| |
| | Though Barret's naïve foray in the oil
|
| Springs for its oil and gas seepage that
| |
| | business could be considered a failure
|
| had been observed by Native Americans and
| |
| | when looking at the financial risks
|
| early Texas settlers for many years. His
| |
| | versus the small rewards, his findings,
|
| preliminary exploratory pursuits were
| |
| | called the "Nacogdoches field" continued
|
| unfortunately interrupted by the Civil
| |
| | to produce oil into the 1950's for
|
| War and were postponed until after
| |
| | several different outfits. Barret
|
| fighting had ceased. In 1865, Barrte
| |
| | secured his place in Texas oil history,
|
| secured another drilling contract with
| |
| | and helped pave the way for the companies
|
| the heirs of the previous owner of the
| |
| | like Triple Diamond Energy Corp that call
|
| site and formed the burgeoning "Melrose
| |
| | Texas their home today. In 1966, the
|
| Petroleum Oil Company."
| |
| | Texas State Historical Survey Committee
|
| The Melrose Petroleum Oil Company began
| |
| | placed a historical marker on the site of
|
| drilling in earnest the summer of 1866
| |
| | the "No.1 Isaac C. Skillern", forever
|
| and was rewarded on September 12, 1866
| |
| | cementing his key addition to Texas' oil
|
| when the "No. 1 Isaac C. Skillern" oil
| |
| | heritage. Texas continues producing the
|
| well was struck. It yielded ten barrels
| |
| | highest amounts of the precious commodity
|
| a day, quite modest in today's terms of
| |
| | in all of the United States.
|
| course, but had achieved undeniable
| |
| | Visitors to Nacogdoches, Texas, are
|
| historical notability as the first
| |
| | afforded the wonderful opportunity of
|
| commercially producing oil well in Texas.
| |
| | experiencing and discovering the vast
|
| At that time, the price of oil was at $20
| |
| | history of oil production for themselves.
|
| a barrel, but swings in price (in 1867 it
| |
| | Barret's 1848 homestead, added to the
|
| dropped to $2.40 a barrel) left many
| |
| | National Register of Historic Places in
|
| investors impatient to see profits and
| |
| | 1979, has been restored and is now a
|
| that year Barret's biggest investors
| |
| | fantastic bed and breakfast destination,
|
| withdrew their financial support, and
| |
| | and currently a 700 acre working tree
|
| many others demanded to sell their
| |
| | farm as well.
|
| interests as well. In 1868, a dejected
| |
| |
|
