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The Cushing Oil Field, also known as the Cushing-Drumright Oil Field, is an oil field in northeastern Oklahoma, part of the Mid-Continent oil province.The 10-mile (16 km) by 3-mile (4.8 km) field includes southeastern Payne County, northwestern Creek County, and northeastern Lincoln County.
Graph of weekly Cushing Stocks excluding SPR of Crude Oil from 2004 to 2018. The city of Cushing in Oklahoma is a central hub within the United States and worldwide oil industry. It connects major pipelines within the United States and is the location where the oil futures contracts end up being delivered.
Cushing was established after the Land Run of 1891 by William "Billy Rae" Little. It was named for Marshall Cushing, private secretary to U.S. Postmaster General John Wanamaker. A 1912 oil boom led to the city's development as a refining center, [7] with over 50 refineries operating in Cushing over its history. [8]
Rising U.S. crude oil exports are boosting the prominence of Gulf Coast price benchmarks and buoying trading volumes on Houston contracts, eroding the significance of the Cushing, Oklahoma ...
Giant oil storage tanks in Cushing Oklahoma Oil Crossroads of the World where most of the WTI oil in the USA is stored and traded. (Susan Vineyard via Getty Images) (Susan Vineyard via Getty Images)
The Wheeler No. 1 Oil Well was the first well drilled in the Drumright-Cushing Oil Field of northeast Oklahoma, near Drumright.The success of the well, drilled in 1912 by Thomas Baker Slick, Sr., led to the development of the Cushing field and gave impetus to the early development of Oklahoma oilfields. [2]
The Oil Fields and Santa Fe Railway ("Oil Fields") was an Atchison, Topeka and Santa Fe Railway ("AT&SF") subsidiary. It owned trackage in and about the Cushing-Drumright Oil Field in Oklahoma, and was leased to and operated by the AT&SF from its inception in the 1915-1916 timeframe until its merger into the AT&SF in 1941. All of its tracks ...
It was the first well in the Cushing field to produce 1 million barrels of oil and established the Oklahoma record for production from a single well. The well was capped in the mid-1960s. The site includes concrete foundations, the capped well casing, and a sign. In 1980, eight neighboring wells continued to produce oil. [2]