Hastings Oilfield
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| Hastings Oilfield | |
|---|---|
  Location of Hastings Oilfield | |
| Coordinates | 29°29′14″N 95°14′15″W / 29.4872°N 95.2374°W |
| Owner | Amoco |
| Field history | |
| Start of production | December 23, 1934 |
| Peak of production | 656.2 million |
| Peak year | 1984 |
| Production | |
| Producing formations | Marginlina, Frio, Vicksburg |
Hastings Oilfield is an approximately 20-square-mile petroleum reservoir in Brazoria and Galveston County, Texas, United States.
Hastings Oilfield was discovered by J. W. Surface of Amoco, and was first drilled on December 23 or 29, 1934. Within two days of the discovery, Edgar F. Bullard, also of Amoco, purchased the deed to the land, for $1 per acre. The price soon rose to $5,000 per acre. On October 1, 1958, Hastings Oilfield split between Hastings West and East due to the Long Point–Eureka Heights fault system.[1][2] Production had stagnated by 1990. In 2009, Denbury Resources acquired the land from Venoco, for $201 million.[3] In 2010, production resumed.[4][5]