Black gold found on university land
On this day in 1923, Santa Rita No. 1 came in. It was located on University of Texas land in Reagan County. Early in the morning the well sprayed oil over the top of the derrick and covered a 250-yard area around the site. Santa Rita attracted the attention of scouts from major oil companies and proved that the Permian Basin was indeed rich in oil. In 1940 the Santa Rita pump was moved from its original site to the University of Texas campus in Austin. Its presence commemorates a time of transformation for both the University of Texas and Texas A&M University, which shared oil royalties on state university land.