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Magnolia is a city in southwestern Montgomery County, Texas, United States within the Houston metropolitan area. It is named for the magnolia trees that grow in the area. [ 8 ] The population was 2,359 at the 2020 census .
The Magnolia Petroleum Company was an early twentieth-century petroleum company in Texas. The company was established in 1911, being later acquired by the Standard Oil of New York , which operated it as a wholly-owned subsidiary until its demise in 1959.
[5] [24] One of the first significant wells in Texas was developed near the town of Oil Springs, near Nacogdoches. The site began production in 1866. [25] The first oilfield in Texas with a substantial economic impact was developed in 1894 near Corsicana. [26] In 1898, the field built the state's first modern refinery. [26]
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Of the 4,800,000 square feet (450,000 m 2) of office space under construction in Greater Houston, over one third was in The Woodlands. [ 91 ] On February 11, 1999, Anadarko Petroleum announced that it would purchase a 7.5-acre (30,000 m 2 ) tract from The Woodlands Land Company, to build a 800,000-square-foot (74,000 m 2 ), 32-story ...
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In 1881, more oil was discovered at a deeper level, resulting in another oil boom for Oil Springs. Two oil pipelines were built to Petrolia, and in 1886, a spur line of the Canada Southern Railway connected the village to Oil City (operating until 1960). [5] In 1914, Charles Fairbank, son of John Henry, found a gas gusher in Oil Springs that ...
More important in the city's history was the discovery of oil in the region during the 1920s. The early discoveries in the area marked the beginning of the oil industry in the Permian Basin area of West Texas, and the oil industry has continued to be a dominant part of the area's economy. The oil industry in Big Spring reached its peak during ...