Acadiana Oil timeline

Life from the Oil Patch: "The Acadiana Story"

1543- Oil first discovered in southwest Louisiana by the Hernando de Soto expedition.

1859- The beginnings of the American oil industry in Titusville, Pennsylvania.

1900s- Small discoveries in the Lafayette area led to the organization of local independent firms, such as the Martin Oil Company. Lafayette business and political leaders began looking to oil as a viable alternative to the unstable agricultural industry.

1901- First commercially producing oil well in Louisiana, the Heywood Well, drilled near Jennings.

1902- Opening of Anse la Butte field between Lafayette and Breaux Bridge, becomes center of activity in the region. Formation of Martin Oil Company. Further attempts to extract oil and gas seepages around Lafayette.

c.1910- First over-water well drilled near Shreveport by the Gulf Refining Company of Louisiana.

1911- Center of oil extraction in the state shifts away from southwest to north and central Louisiana; many wells in southern portion of state dried up.

1930s- The Great Depression hits Lafayette's agricultural economy hard.

1932- Superior Oil makes discovery at Bosco in Acadia Parish, bringing the oil industry back to the Acadiana area. Depression years also see oil companies begin to locate in Lafayette because of its proximity to new fields opened due to technological advances.

1936- A majority of oil companies operating in the area has offices in Lafayette. Lafayette Chamber of Commerce begins promoting city to oil companies.

c.1938- Pure-Superior well drilled about 1 mile off the coast of Cameron in Creole field. Credited by some as the beginning of the offshore oil industry in South Louisiana.

1940s- Military demands for oil increase during and after World War II. The number of automobiles after the war increases by 65 percent.

1945- 15 oil companies located in Lafayette.

1947- Kerr-McGee drills the first oil well out of sight of land ten and a half miles south of the coast of Morgan City in eighteen feet of water. The offshore oil industry is born.

1949- Opening of Petroleum Helicopters, Incorporated (PHI), currently the world's largest commercial helicopter company.

1952- Responding to oil company demand for a central office location near the fields of operation, Maurice Heymann sets plans into motion for construction of an Oil Center in Lafayette.

1955- Lafayette Petroleum Club organizes first Louisiana Gulf Coast Oil Exposition (LAGCOE) to promote regional oil industry.

1957- 428 oil-related companies in Lafayette, 150 in Oil Center.

1959- 586 oil companies in Lafayette, 190-250 oil firms located in Oil Center. Oil employee payroll in city over nine million dollars. State severance taxes on oil exceed $100 million.

1969- Peak of Louisiana oil extraction.

1972- Arab oil embargo has little affect on local petroleum industry.

Late 1970s- 23 percent of Lafayette population derives income directly from oil industry

1980s- Due to general oil bust resulting from O.P.E.C. crisis of 1970s and depressed oil prices, south Louisiana experiences severe economic downturn that continued into the 1990s. Oil production drops dramatically.

1982- Severance taxes, leases and royalties paid to Louisiana set record highs at over $1.5 billion.

1986- Lafayette area unemployment at 14 percent.

1987- U.S. Census Bureau report states that average Acadiana worker up to 56 percent more productive than average American worker.

1988-15% of United States oil supply comes from Louisiana. Of that 15%, 47% produced out of Acadiana. 52% of people in Louisiana's oil and gas industry work in Acadiana. Severance taxes and royalties to state total $703 million.

1990s- Resurgence in industry accompanied by economic diversification in order to prevent general economic decline arising from oil decline and to help sustain economic growth.

1993- First study of the impact on the oil industry in Louisiana conducted by the Louisiana Mid-Continent Oil and Gas Association shows economic impact of more than $3 billion per year on the state.

1996- Industry shows definite signs of recovery from downturn of the 1980s.