From the Annals of the Wildcatters –  In 1918, the No. 1 Chaney oil well began producing in Breckenridge.  There had been drilling in the area since 1911, but the success of the Chaney No. 1 began a boom which increased the population of Breckenridge from 800 to over 30,000.   Within months, over 200 derricks were drilling in the town and within two years there were over 2000 drilling sites in the immediate area. By 1919, production in the Breckenridge area was over 10 million barrels and peaked at over 31 million barrels in 1921.