On this day in Texas history, February 4, 1918, the oil well No. 1 Chaney began producing in Breckenridge, TX. This event marked the beginning of a significant oil boom in the area, leading to a rapid population increase from 800 to 30,000 in a short period of time. The discovery of oil had a profound impact on the local economy and solidified Texas as a major player in the oil industry.