Santa Rita No. 1
historical marker
Santa Rita No. 1 is a historical marker in Austin, Travis County, Texas. The original oil well struck oil on May 28, 1923. This became the first producing well on Permanent University Fund lands. The discovery transformed the university's endowment, making it one of the largest in the United States. The well was named Santa Rita, reflecting early skepticism about finding oil. In 1940, the original rig moved to the University of Texas at Austin campus, where it was unveiled in 1958. This marker commemorates the site's historical importance.