The Petroleum Building
Midland, Midland County, Texas
Marker Inscription
T. S. Hogan, a Montana attorney, rancher and oilman, came to the Permian Basin in 1925, where he became active in the oil business. He was convinced Midland was situated in the center of the petroleum basin and that it would become the leading city of the region. In 1927 he announced the construction of this building, which would serve as a center for the area oil companies. Designed by the prominent Fort Worth architect Wyatt C. Hedrick, it was completed in 1929. A formal dedication was held on July 4 of that year. Many believed that Hogan's enterprise signaled Midland's future as a major oil production center. The projections, unfortunately, were premature. Only months after the building was completed, the stock market crash occurred that resulted in the Great Depression of the 1930s. With the discovery of oil in East Texas, the price soon dropped to 15c a barrel. Many companies closed their Midland offices and it was not until 1935 that they began to return to the Permian Basin. When Midland eventually became a leading center of oil production as Hogan had earlier envisioned, the Petroleum Building played a significant role in the town's development. Recorded Texas Historic Landmark - 1982
Erected by Texas Historical Commission
The Story
Convinced Midland sat at the heart of the Permian Basin, oilman and rancher T. S. Hogan announced this office building in 1927 as a hub for the region's oil companies, dedicating it on July 4, 1929. Designed by Fort Worth architect Wyatt C. Hedrick, it opened just before the stock-market crash sent oil to fifteen cents a barrel and drove companies away. When Midland finally became a leading oil center in the years that followed, the Petroleum Building played the role Hogan had imagined.
Why it matters
The building embodies the boom-bust gamble of the early Permian Basin, whose oil wealth would reshape West Texas and fuel the nation.
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Themes & tags
Nearby & related markers
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Riding Midland's oil-fueled growth, T. S. Hogan announced this multipurpose theatre in 1927 and hired architect Wyatt C. Hedrick, who gave it an elaborate Gothic Revival facade over an Egyptian Revival interior. The Yucca opened on December 5, 1929, with a screening of "Rio Rita" and a New York musical revue. Through the Depression it stayed busy with vaudeville, opera, recitals, and graduations, and it still recalls Midland's rise as a petroleum capital.
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